Excerpt from the Multi-Housing News website: Aptitude Development has started construction on The Marshall Tempe, a 485-bed student housing project near Arizona State University’s Tempe, Ariz., campus. Development partners include architecture firm BKV Associates and engineering company CHA Consulting. The project will rise on 1.4 acres on the former site of a 72-key hotel. According […]
Excerpt from Crain’s New York Business: Luxury builder Alloy Development has purchased a Boys & Girls Club facility near the Brooklyn Navy Yard for $15 million in a deal intended to generate funds for the club to help it pay for a $22 million settlement relating to abuse claims. A flood of lawsuits from the […]
Excerpt from the Commercial Observer website: Property Markets Group (PMG) has secured $26 million of acquisition and pre-development financing for its long-planned luxury condominium tower in Sarasota, Fla., that’s currently in the midst of a legal battle, Commercial Observer has learned. Maxim Capital Group provided the loan on PMG’s 18-story One Park Sarasota project on the Sarasota bayfront, where […]
Excerpt from the Real Deal website: Three years after buying a Long Island City site with a commercial building in mind, the Carlyle Group has shuffled it to another developer. Montperia Group — formerly known as Ampiera Group — and JLS Construction purchased the property at 24-02 Queens Plaza South for $49 million, Crain’s reported. […]
Excerpt from the Real Deal website: Madison Realty Capital is turning to a bridge lender to keep its poison-to-paradise development in Greenpoint going. Typically a lender itself, Josh Zegen’s firm scored a $40 million refinancing loan from Maxim Capital Group for an in-progress project at 65 and 75 Dupont Street, where Madison plans an eight-story, […]
Excerpt from the Commercial Observer website: It’s not a “Lidl” deal in this tight credit market. Seventh Street Development Group has secured $62.25 million in construction financing for a sprawling, 105,000-square-foot mixed-use project in Crown Heights, Brooklyn, that will be anchored by a 33,000-square-foot Lidl discount supermarket. The two-year, floating-rate loan was provided by Invictus Real Estate Partners, together […]
Excerpt from the Commercial Observer website: Not many boutique offices in SoHo are scoring $50 million construction loans in this market, but 40 Crosby Street just did. The 70,000-square-foot, five-story KPG Funds-developed building dubbed “The Crosby,” which is aiming to open in the first quarter of 2024, secured financing from Sabal Investment Holdings and GDS Brightstar, the lending arm of GDSNY, Commercial […]
Excerpt from the Real Deal website: Chris Xu is wasting no time revealing his plans for a Queens development site he scooped up last month from Steve Roth’s Vornado Realty Trust. Xu’s United Construction and Development Group — best known for developing Queens’ tallest building, Skyline Tower in Long Island City — released renderings for […]
Excerpt from the Commercial Observer website: United Construction and Development Group has landed $40 million of acquisition financing to purchase a Rego Park, Queens, development site to build a mixed-use multifamily project, Commercial Observer has learned. Maxim Capital Group provided the loan for United’s acquisition of 93-30 93rd Street, which spans nearly 140,000 square feet […]
Excerpt from Tampa Business Journal Website: A Miami developer is moving forward with plans to build a $200 million mixed-use project in downtown Tampa’s Encore district. LD&D said it has closed on 2 acres at 1101 E. Harrison St. for $10 million. The developer previously said it planned to build a 28-story, 365-unit luxury apartment […]
Excerpt from Commercial Observer Website: Watson Island, a prime publicly owned enclave between Downtown Miami and South Beach, may finally be getting a makeover. A joint venture between BH3 Management and Merrimac Ventures purchased the 75-year ground lease for a 10.8-acre parcel on the island from Flagstone Property Group. The pair declined to disclose the financial terms of the deal, […]
Excerpt from Commercial Observer Website: Caliber Companies has snagged a big catch, just before Super Bowl LVII kicks off at nearby State Farm Stadium. Maxim Capital Group and Beach Point Capital Management have provided a $55 million bridge loan to the sponsor for three of its airport hotels in Phoenix, Commercial Observer has learned. Read […]