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NorthMarq's acquisition of Texas Realty Capital adds a fourth NorthMarq location in Texas and a servicing portfolio of $900 million, which brings the total portfolio to more than $56 billion.
Nearly 46 acres on an in-fill industrial central site on the south side of Kearney Street west of Highway 352 with solid and diverse economics along with a large workforce was attractive to Dalfen Industrial.
“As HPD Commissioner, Vicki changed everything about affordable housing in New York City. As Deputy Mayor, she will dig deeper and ratchet up all our efforts to confront the biggest crisis facing our city: affordability,” said Mayor de Blasio.
In the aggregate, the four buildings are 87.7% leased and were acquired at an average capitalization rate of 5.3%. The properties expand Healthcare Realty's presence in three of its top markets and extend its relationships with three market leading, investment-grade health systems.
Barings and Bank OZK provided $100 million for the office building project. The equity was provided by MBR, LLC, an affiliate of The Allen Morris Company and ICM Asset Management, Inc. of Calgary. Holliday Fenoglio Fowler, L.P. arranged the transaction.
According to its best and final offer submitted to JEA, the Ryan Cos. project at 325 West Adams St. will cost approximately $72.2 million to construct. The building will total 207,810 square feet, including a 6,340-square-foot rooftop outdoor patio.
The financing deal was announced by Holliday Fenoglio Fowler, L.P., which arranged a fixed-rate loan for the development of the Home2 Suites Sarasota and a floating-rate loan for the development of the Home2 Suites Largo.