Commercial Observer’s Post

Philadelphia-based investment group EQT Exeter has purchased PGIM Real Estate’s Baltimore #industrial portfolio for $141 million. Read more: https://lnkd.in/e_C8Wj-6 #CommercialRealEstate #RealEstate

The Beverly Hills City Council has rejected Leo Pustilnikov’s 19-story project appeal, effectively rebuking California’s controversial ‘Builder’s Remedy’ housing rule. Read more: https://lnkd.in/exxpcNiF #CommercialRealEstate #RealEstate

Paul Singer’s Elliott Investment Management L.P. has signed a deal to take 149,000 square feet at SL Green Realty Corp. and Vornado Realty Trust's 280 Park Avenue. Read more: https://lnkd.in/e725YF5c #CommercialRealEstate #RealEstate

Gary Barnett’s Extell Development has landed a $620 million loan to refinance 50 West 66th Street, a 69-story, 127-unit luxury condo being erected east of Lincoln Center. Read more: https://lnkd.in/efGkz36V #CommercialRealEstate #RealEstate

Macy's has sold one of its aging department stores in Pinecrest, Fla., to the University of Miami for $40 million. The 77,861-square-foot building sits on 4.6 acres at 13251 South Dixie Highway. Read more: https://lnkd.in/eaV4u7bN #CommercialRealEstate #RealEstate

Wells Fargo has supplied $256 million of financing as part of a $332.3 million funding package that will help renovate a Staten Island affordable housing complex. New York City Housing Authority (NYCHA) is partnering with BFC PARTNERS, CB-Emmanuel Realty, LLC and nonprofit group Catholic Homes New York on the renovations. Read more: https://lnkd.in/egh8C-jK #CommercialRealEstate #RealEstate

The massive Brooklyn Tower cleared up its mezz problem. The 74-story property looming over King's County changed hands with mezzanine lender Silverstein Capital Partners taking control in a $672 million deal. Across the river, the Kushner Companies secured a massive $295 million construction loan for its 1 Journal Square project in Jersey City, N.J. #CommercialRealEstate #RealEstate

Newport Beach, Calif.-based Green Street has promoted firm veteran Kris Rindt-Hoffman to the newly created role of chief strategy officer, while former Autodesk Chief Revenue Officer Walter X. Palhetas has been hired as chief growth officer. Read more: https://lnkd.in/equnsZfC #CommercialRealEstate #RealEstate

Kushner has landed a massive $295 million construction loan from Apollo and RXR to fund the second phase of its 1 Journal Square project in Jersey City, N.J. Meridian Capital Group's Ronald Levine and AJ Bruno were the debt brokers on the deal. Read more: https://lnkd.in/eRGAnq_4 #CommercialRealEstate #RealEstate

See who made the cut⁠ of this year's Top Young Professionals list: https://lnkd.in/g26HssTU ⁠ ⁠#CommercialRealEstate #RealEstate #COYoungProfessionals