Mag Capital Partners has acquired a pie manufacturing facility in Rochester, New York. The transaction includes a 20-year leaseback of the 42,700-square-foot facility located at 155 Balta Dr. to current tenant SatisPie.
The Chicago-based firm also announced that CEO Brett White, CFO Duncan Palmer, COO Michelle MacKay and president John Forrester will forgo a large percentage of their base salaries.
Real estate stakeholders are on the sidelines trying to forecast just how much economic damage has been done, with many having their eyes toward the flood of forbearance requests mortgage servicers are fielding.
"The only path to a sustainable economic recovery is through a strong healthcare recovery. Then, and only then, do we position ourselves to fully ignite our economy and get the residents of our state back to work while minimizing the danger of this disease," Gov. Murphy said.
Active negotiations for storage developments have come to a screeching halt, and existing contracts are in threat of default due to an updated amendment in the New York State 2021 budget bill moving up the deadline for qualifiable self-storage facilities to earn tax abatements.
Zeta Charter Schools is leasing 65,000 square feet in the Bronx for its new elementary school called Zeta Bronx Tremont Park Elementary.
Multifamily has proved like any other asset class it is not immune to the effects of the coronavirus pandemic. However, it is still performing, even if it is haphazard.
Multifamily lender Arbor Realty Trust and its ecosystem of borrowers and property owners are extending a hand to tenants and families impacted by the coronavirus pandemic, partnering on the launch of a national $2 million rental assistance program.
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