Office

The financing replaces construction financing for the 673,852-square-foot class-A office building.

South of Market has the most flexible workspace centers, while the Financial District is the most expensive with an average monthly cost-per-desk of $1,500, higher than the citywide average at $1,046.

PGIM Real Estate Finance provided the loan for the building in the neighborhood where TAMI tenants continue to grow.

Highwoods now owns an 80% interest in the joint venture. The company estimates the project will involve a total investment of $72 million.

Invesco, which last week completed the acquisition of MassMutual's asset management affiliate OppenheimerFunds in a deal reportedly valued at $5.7 billion, will be adding 500 jobs and investing $70 million as part of its major expansion in Atlanta.

Svizeny will lead OceanFirst's expansion in the metropolitan Philadelphia market area, which the $8-billiom bank states is a strategic priority.

Secured on behalf of ASB's Allegiance Real Estate Fund, ASB Real Estate Investments obtained a five-year fixed-rate $100 million loan from Capital One at a 3.478% interest rate for 795 Folsom St.

If you are a developer who has demonstrated both innovation and leadership for adaptive reuse projects, we are seeking nominations to highlight you in our September Real Estate Forum magazine and GlobeSt.ADAPT: OPPORTUNITY ZONES event in September.