Come In, New York, Come In: COVID Has Companies Thinking Satellite Offices
When Mayor Bill de Blasio issued a state of emergency in mid-March in anticipation of a deadly contagion’s spread, some business leaders began to consider whether staying in New York was worth it. In...
View ArticleBNYDC Refinances EB-5 Debt at Brooklyn Navy Yard with $58M Loan From AIG
The Brooklyn Navy Yard Development Corporation (BNYDC) has nabbed $58 million in debt from life insurance company AIG to retire EB-5 financing that had been used to make improvements to the Brooklyn...
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Rockefeller Group’s Edward Guiltinan Heads to Mack-Cali as Leasing Head
Rockefeller Group veteran Edward Guiltinan — who recently leased up the landlord’s redeveloped 1271 Avenue of the Americas — was hired by Mack-Cali Realty Corporation as the head of leasing, Commercial...
View ArticleApollo, Deutsche Bank Finance Silvercup Studios Buy With $323M Loan
Funds affiliated with Apollo Global Management and Deutsche Bank are the lenders behind Hackman Capital Partners and Square Mile Capital Management’s purchase of Silvercup Studios, Commercial Observer...
View ArticleRudin Management Seals $38M Refi for 80 Pine Street in Lower Manhattan
Rudin Management has inked a $38 million refinance for 80 Pine Street, a 38-story property located in the heart of Lower Manhattan’s Financial District, according to property records filed with the...
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REBNY’s Fellowship Program Highlights Challenges Surrounding Diversity
DeVon Prioleau was one of the thousands of AIG employees laid off during the 2008 financial crisis. “It’s no secret,” said Prioleau, who was an associate in AIG’s real estate division at the time. “It...
View ArticleAIG Lends $57M on New Geothermal Mixed-Use Project in Chicago
DLG Management has nabbed a $57 million loan to refinance a newly constructed, geothermal mixed-use property in Chicago, Commercial Observer has learned. AIG provided the 15-year loan, which features a...
View ArticleAIG Lends $51M to Refinance Long Island City Industrial Building
A joint venture between North River Company (NRC) and North Colony Asset Management landed a $51 million loan for a refinancing of a Queens industrial building, Commercial Observer has learned. AIG...
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Eli Broad Was LA’s Great Champion, and the Catalyst to Its Evolution
It’s impossible to imagine today’s Los Angeles without Eli Broad, and it’s just as difficult to quantify the impact he had in helping to reshape what became his adopted hometown for more than a...
View ArticleAIG Lends $113M for Skyglass Tower Multifamily Development in Seattle
Gemdale USA Corporation has landed $113 million of construction financing for the development of Skyglass Tower, a 29-story multifamily building in Seattle’s South Lake Union submarket. AIG provided...
View ArticleGreystone Arranges $125M Refi for Harlem Multifamily Development
Blumenfeld Development Group (BDG) has secured a $125 million refinance for The Smile, a 233-unit Class A multifamily project located in Manhattan’s Harlem neighborhood, Commercial Observer can first...
View ArticleAIG Refinances Deerfield’s 345 Park Avenue South With $440M Loan
Deerfield has refinanced its life sciences innovation campus at 345 Park Avenue South, Commercial Observer has learned. AIG provided the $440 million, 15-year loan in its entirety, sources said, and...
View ArticleSunday Summary: What Will a Bear Market Mean for CRE?
This was a pretty good week to ignore one’s stock portfolio — and the news in general, for that matter. The Dow rode a roller coaster, the consumer price index rose 9.1 percent in June (more than was...
View ArticleMorgan Stanley, Apollo, AIG Lead $1.3B Loan for RXR’s 5 Times Square
RXR has sealed a $1.3 billion debt package for 5 Times Square as it gears up to gain new high-profile tenants in the revamped 1.1 million-square-foot office skyscraper. The loan, which matures in May...
View ArticleFormer AIG HQ at 175 Water Street Sells for $252M
Vanbarton Group has officially sold the 31-story office tower at 175 Water Street for $252 million, Commercial Observer has learned. The building, which previously served as AIG’s headquarters, was...
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