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“Activity at these buildings demonstrates our belief that with a focus on capital improvements and aggressive marketing, tremendous value can be created,” says Joe Sergi of Clear Height Properties.
The company states with those two lease deals on the books, the firm's approximately 11.2 million square-foot California industrial footprint has grown to 93.5% leased.
Nelson Knight, EVP and chief investment officer of Apple Hospitality, says, “Through these attractively priced transactions, we adjusted our market exposure in ways that we feel will further enhance the strength and stability of our hospitality platform.”
An office portfolio represented an opportunity to acquire a high-profile selection of assets in Tulsa's affluent southern submarkets as the buildings offer an alternative to the area's higher-priced office assets.
Current MTA President Patrick J. Foye, a favorite Cuomo transportation appointee, was nominated by the governor as the new chairman of the MTA. Foye will succeed Acting MTA Chairman Fernando Ferrer.
Alpha Capital Partners of Bridgeville, PA reports that its Opportunity Zone fund has purchased 1501 Herman St. and is planning to develop a 300-unit multifamily project there, according to Jide Famuagun, CEO of Alpha Capital.
The deal follows another major financing transaction secured for a McWhinney project. Last week, Berkadia announced it closed $170 million in financing for McWhinney's Great Wolf Lodge in Garden Grove, CA.