An affiliate of Ares Management issued the 5-year variable-rate loan to replace an original Wells Fargo construction loan facility.
Medical office has captured the real estate spotlight with its strong investment sales from large hospitals buying up doctor practices and increased development outpatient facilities.
Trinity Church Wall Street has set its sights on developing a 260,000-square-foot office building at 561 Greenwich St.
South Korean financial services firm Hana Financial Group approached MRC to provide the first mortgage loan alongside their $31.1 million mezzanine loan.
Philadelphia now joins San Francisco, New York City, Cleveland and Newark, NJ in the right to counsel movement. Similar legislation is advancing in Detroit, Los Angeles, Denver, and other cities across the country.
The Blackstone entity acquired the property in partnership with Roman Real Estate Holdings, Inc., according to NAI James E. Hanson, which brokered the deal on behalf of the buyer.
The 105,000-square-foot office building was sold by New York City-based Torchlight Investors to a private real estate investor, according to brokerage firm JLL, which represented Torchlight in the transaction.
The tech behemoth has locked down a 1.5 million-square-foot lease spanning the Hudson Yards commercial development.
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