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SL Green expands Yelp lease in NYC; Community Healthcare buys 10 assets in Q2

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SL Green expands Yelp lease in NYC; Community Healthcare buys 10 assets in Q2

This feature rounds up recent commercial property news and highlights larger deal coverage already published.

* SL Green Realty Corp. and PGIM Real Estate agreed to lease 39,565 square feet of additional space at their 29-story office tower at 11 Madison Ave. in New York City to online consumer reviews company Yelp Inc., Commercial Observer reported, citing unnamed sources. The lease expansion brings Yelp's footprint at the property to roughly 192,000 square feet, according to the Commercial Observer report.

* Community Healthcare Trust Inc. purchased 10 real estate assets for roughly $36.2 million in the second quarter. The properties encompass roughly 203,000 square feet in total and were fully leased at the time of acquisition.

* Armada Hoffler Properties Inc. picked up a retail building at The Shoppes of Wendover Village in Greensboro, N.C., from DDR Corp.'s operating partnership for $14.4 million, the Triad Business Journal reported. The property spans 35,895 square feet at 4203/4205 W. Wendover and has a tenant roster that includes Rooms to Go Kids, Panera Bread, Mattress Firm and Noodles & Co.

* Pennsylvania Real Estate Investment Trust in July purchased the former Macy's parcel at its Moorestown Mall in New Jersey for $8.9 million, and gained control of the Macy's parcel at Plymouth Meeting Mall in Pennsylvania via a long-term ground lease. In June, the company off-loaded nonoperating parcels at its Beaver Valley and Valley malls for a combined $4.2 million, realizing total gains of $500,000.

* National Health Investors Inc. provided a $10 million first-mortgage loan for the purchase of a 40-unit memory care community in Rye, N.H., and added Evolve Senior Living as a new partner. The company funded the purchase with a draw on its revolving credit facility.

Additional coverage

Healthcare Realty to purchase medical office portfolio for $613M

Report: Gaw Capital fund in talks to buy NYC hotel for $340M

Report: MetLife in talks for up to $150M stake in NYC office tower

Griffin-American Healthcare REIT IV strikes deals to buy assets for $118M

JLL Income Property acquires Las Vegas shopping center for $63M