Landlords are under pressure to get their paperwork in order to meet the New York City Council’s Climate Mobilization Act (CMA) passed last year to reduce greenhouse gas emissions and improve efficiency for commercial and residential buildings larger than 25,000 square feet.
“It is clear that investors are basing values much more off of in-place cash-flow versus future upside.”
The financing was originated by Square Mile Capital Management, LLC of New York City for the development of parcels EF and Q1, which will contain lab, office and retail space.
Cushman & Wakefield has hired Michael Movshovich, formerly of CBRE, as executive managing director to lead its new Alternative Investment Advisory Group in New York, a division managing leasing and operations for clients that include hedge funds and private equity firms.
NETL, a net lease REIT ETF, is just getting started as they raise awareness about their strategy and the net lease sector, which is slated for significant growth as more and more real estate properties come online, and interest from investors seeking to deploy capital heightens.
Locally-based John Buck is reportedly in contract to sell the former CNA Center to a partnership of SHVO, Deutsche Finance and BLG Capital.
ViacomCBS could make a move to sell its CBS Broadcast Center at 524 W57th St. on Manhattan’s west side and potentially has plans to downsize its workforce into Viacom-occupied properties, sources tell GlobeSt.com.
Davis has hired healthcare real estate executive Stewart Davis as executive vice president of investments to manage its national acquisitions.
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