09 Oct, 2025
Harbor affiliate obtains $356M acquisition loan; Miami office trades for $274M
– An affiliate of Harbor Group International borrowed $356.4 million to acquire a four-property multifamily portfolio, according to Walker & Dunlop Inc., which arranged the Freddie Mac financing. The portfolio comprises 1,817 units and approximately 1.8 million rentable square feet across properties in Marlborough, Worcester and Bridgewater in Massachusetts, as well as Warwick, Rhode Island.
– Spain-based Pontegadea Inversiones SL, the family office of Zara founder Amancio Ortega, closed on the purchase of the 1111 Brickell office building in Miami for $274.4 million from KKR & Co. Inc. and Parkway, Commercial Observer reported, citing property records. The 30-story Sabadell Financial Center high-rise spans 1 million square feet. Tenants include investment bank Morgan Stanley, law firm Baker & McKenzie and hedge fund Millennium Management.
➤ Data Dispatch: Government shutdown intensifies pressure on DC banks
The district's economy has been strained since government budget cuts and layoffs sent shocks through the metropolitan statistical area earlier this year, but the shutdown could make it worse, experts said.
Under a joint proposal, banks would only receive matters requiring attention and enforcement actions related to continued practices that harm the financial condition of the bank or present failure risk.
RESIDENTIAL
– Madison Realty Capital provided $108.6 million of construction financing to Quintasen Holdings LLC for two rental communities in Florida, Commercial Observer reported. The loan will fund the development of Moccasin Wallow in Parrish and Terra View in San Antonio. Moccasin Wallow will feature 144 townhomes and 100 one-story villas, with the first units expected to be delivered in late 2025. Construction of Terra View, a 169-unit project, is scheduled to begin before the end of 2025. George Smith Partners arranged the transaction.
– Virtu Investments LLC purchased Link and Mural Apartments, two apartment communities in West Seattle's Junction neighborhood. The 331-unit portfolio includes Link Apartments, a 195-unit midrise community with 17,079 square feet of fully leased retail space, and Mural Apartments, a 136-unit midrise community featuring 5,275 square feet of fully leased retail space. JLL represented the seller in the transaction.
– Fengate Asset Management invested in Paradigm Grand, a mixed-use condominium development in Burlington, Ontario. The 380,000-square-foot project will feature 388 residential units plus retail and office space, located near the Burlington GO Station. Fengate is managing the investment for the LiUNA Pension Fund of Central and Eastern Canada.
RETAIL
– PGIM Real Estate Advisors LLC secured $132 million in refinancing from Wells Fargo Bank for The Promenade Shops at Saucon Valley in Center Valley, Pennsylvania, Commercial Property Executive reported, citing Yardi Research Data. The 475,000-square-foot open-air center is anchored by The Fresh Market. Other tenants include J. Jill, Bath & Body Works, L.L. Bean, J. Crew Factory and Pandora Jewelry.
HEALTHCARE
– Diversified Healthcare Trust is transferring management of 116 senior housing communities to seven different operators as part of the previously disclosed wind-down of AlerisLife Inc. The real estate investment trust said the transitions began in mid-September and are expected to be completed by year-end. Sinceri Senior Living will manage 38 communities with 7,299 units, while Discovery Senior Living will take over 44 communities with 5,338 units. Five other operators will manage the remaining facilities, including Tutera Senior Living & Health Care with 19 communities.
INDUSTRIAL
– EQT AB (publ)'s EQT Real Estate Industrial Value Fund V completed the sale of a seven-asset truck terminal portfolio across the US. The portfolio includes industrial facilities spanning 89 acres across Phoenix, Atlanta, Southern California's Inland Empire, Texas and Wichita. The properties comprise more than 312,000 square feet.
– Foundry Commercial LLC and an Ares Real Estate fund sold Midpoint Miami Logistics Park, a fully leased 312,834-square-foot industrial property in northwest Miami-Dade County. JLL represented the sellers in the transaction.
Disclaimer: This content may be AI-assisted and is composed, reviewed, edited and approved by a human at S&P Global.
__________________________________________
The Daily Dose is updated as of 8 a.m. ET. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.
