Commercial Observer

Finance Forum 2024: Is commercial real estate set for a capital boost in 2025? Get a full event recap: https://lnkd.in/eegepJJA #RealEstate #CommercialRealEstate

Blackstone is the latest investor to buy up high-quality retail in SoHo, purchasing a four-property retail portfolio in the popular Manhattan shopping neighborhood from ASB Real Estate Investments for $197.5 million. Read more: https://lnkd.in/gXydbaPT Pictured: Jon Gray, President and COO at Blackstone

Drew Anderman (pictured) has exited Meridian Capital Group for CBRE, marking the latest in a large string of high-profile brokers to leave the firm. Read more: https://lnkd.in/eyiQd5_s #RealEstate #CommercialRealEstate

NYC Mayor Eric Adams’s (pictured) City of Yes for Housing Opportunity plan has cleared two New York City Council committees — with some changes. Read the story: https://lnkd.in/eFdsdqZX

GTS has signed a 15-year lease for 35,156 square feet at 625 Avenue of the Americas, which is owned by a private company led by Charles and Channa Taub. Asking rent was $85 per square foot. Read more: https://lnkd.in/eiin9k2U Pictured: Ari Rubenstein, CEO of GTS

An affiliate of EPIRE, a New York City-based development firm, has secured $38.7 in construction financing to build One Jones Park, a 75-unit residential property in Jersey City, New Jersey. BHI, the United States branch of Israel-based Bank Hapoalim בנק הפועלים, provided the financing. Read more: https://lnkd.in/e7hsjWGi Pictured: Ilana Druyan, Senior Vice President and Head of International Origination at BHI

The party might be over for many investors who jumped into the multifamily space amid crushing demand for housing right before and in the early days of the COVID-19 pandemic. Read on for the big reason why. And, speaking of multifamily, today also brings details of a nine-figure deal in Washington, D.C. #RealEstate #CommercialRealEstate

Clarion Partners LLC's Brent Jenkins (right) and Rick Schaupp (left) talk with Commercial Observer about how Clarion Real Estate Income Fund wants to democratize investing. Read the interview: https://lnkd.in/ebWuKu32 #RealEstate #CommercialRealEstate

The company that owns Fatburger and Johnny Rockets has signed a renewal agreement to keep its global headquarters in Beverly Hills. FAT Brands Inc. signed the five-year, 15,347-square-foot lease with Anderson Real Estate at 9720 Wilshire Boulevard. Read more: https://lnkd.in/eQR-J2uG Pictured: Andy Wiederhorn, Founder of FAT Brands

Tokyo-based Mori Building Co., Ltd. has acquired an 11% stake in One Vanderbilt Avenue from SL Green Realty Corp. in a deal that set the value of the building at $4.7 billion. Under the deal, SL Green — which opened One Vanderbilt during the height of the pandemic in 2020 — will still own a 60 percent stake in the 73-story skyscraper. Read more: https://lnkd.in/gN65S-gt Pictured: Marc Holliday, Chairman and CEO of SL Green Realty Corp; Shingo Tsuji, President and CEO of Mori Building Co., Ltd