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The firm sold the two properties after expanding into new facilities, according to Newmark Knight Frank, which represented the seller in the transaction.

New York real estate investor Allied Partners buys the South Beach drugstore.

The real estate investment and development firm plans to rebrand Hamilton Creek and spend $9 million in upgrades on the 45-acre property.

CrowdStreet Inc. launched a diversified investment fund through CrowdStreet Advisors LLC, which will focus on new development/redevelopment in small and mid-market US opportunity zone areas with growth potential.

Rittenhouse Realty is marketing the property as a development opportunity to build 208 apartments (147,070 square feet) above the garage, which will be master leased to Sonder Inc.

"Furthermore, we expect to be able to take advantage of our heavy lease expiration cadence over the next couple of years, to close underperforming stores or relocate stores to improve sales and profitability on a per-store basis," the shareholder letter states.

The loan is the second financing deal secured with AIG for One Park, coming on the heels of a $71.6-million construction loan in 2017.

The proposal also calls for replacing the existing cap on the GSEs' annual multifamily acquisitions with a cap that is based on the multifamily guarantors' share of outstanding multifamily debt.