Mill Creek Residential Trust, a national multifamily development and acquisition company, brought the 504-unit apartment community in New York’s Rockland County called the Peak of Nanuet.
Safehold Inc., a REIT specializing in ground leases, has agreed to create a $180 million ground lease for 685 Third Avenue, a 31-story office tower one block from Grand Central Terminal.
The proprietary platform offers nonrecourse and recourse loans, with a permanent financing option granting 5-, 7- and 10-year terms across the single family rental sector.
With the sale-leaseback agreement, Transformco, the parent company of Kmart and Sears, continues to occupy the property to operate its main distribution center for the entire Southeast US that support Sears, Kmart, and Hometown stores.
Real estate players suspect the housing market has peaked and is heading modestly lower this year with new data that shows residential starts are down for the single family and multifamily sectors.
Tower Holdings Group is developing a co-living and hotel property in Bedford Stuyvesant, Brooklyn, betting that the asset type is a viable solution for access to affordable housing and community fosterment.
It’s the need for flexibility. So says a major new survey sponsored by flex-provider Hana.
Wharton Properties has acquired 116 Berry Street in Williamsburg, Brooklyn for $20 million, or $3,226 per-square-foot, in what is a record-setting transaction for the submarket.
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