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cove will extend its cove@Home offering to Rubenstein's Maryland tenants.

JLL arranged the four-year, floating-rate acquisition bridge loan through Bridge Investment Group.

Walker & Dunlop structured the transaction using staggered maturities across a mix of fixed and floating-rate, full-term, interest only financing.

The developer secured a $92 million construction loan, in addition to Opportunity Zone funding, for the 403-unit, Maryland asset.

The mayor stated on Wednesday that he will sign an Executive Order allowing construction work in the city to begin again on Friday morning with strict limitations in order to limit the spread of COVID-19.

The 10-story, Class A office building was traded by Jersey City-based Mack-Cali Realty Corp. to an undisclosed private investor.

"Despite the trying times we're living in now, the successful completion of this deal is proof of Manhattan's office sector resilience, says Ted Koltis.

In the short-term, JLL sees capitalization rates rising 25 to 75 basis points for active adult, independent living and assisted living facilities, and 50 to 100 bps for memory care and nursing care.