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The transaction was facilitated by an unspecified preferred equity investment by national multi-housing owner and operator Pensam Residential of Miami. Pensam's preferred equity investment is structured behind Fannie Mae senior financing.
"The Philadelphia office market has seen immense momentum and rent growth over the past few years and the well capitalized Nightingale and Wafra partnership is in ideal position to capitalize on the favorable market dynamics,' says Walker & Dunlop's Rosenberg.
Navigating changing variables around rising construction costs, Stirling has had to put its head down with clients to massage a layout that is cost-effective.
SL Green is making a straight-forward spread investment; sell assets in the 4% to 5% cap rate range and buy a larger stake in a portfolio that includes trophy assets like 11 Madison Avenue, said BTIG REIT Analyst Thomas Catherwood.
The firm, which signed a lease for more than 331,000 square feet in January 2019, inked a lease expansion for 108,343 square feet at the recently completed development at 2075 W. 43rd St.
Brokerage firm JLL worked on behalf of LeCesse Development Corp. and MAS Development Group to secure a $55-million construction loan through Citizens Bank and Lakeland Bank for the Vinty.
The Irvine, Calif.-based firm has entered into an exclusive partnership with MTN Retail Advisors, a grocer-specialized data collection and analytics provider.