trending Market Intelligence /marketintelligence/en/news-insights/trending/yfucotv7uzv8_tsfkqttka2 content esgSubNav
In This List

NY building to sell for $90M; Blackstone affiliate pays $49M for Fla. assets

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise


FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


Infographic: The Big Picture 2024 – Energy Transition Outlook

NY building to sell for $90M; Blackstone affiliate pays $49M for Fla. assets

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

* Gorjian Real Estate Group is in contract to purchase a 17-story, nearly 140,000-square-foot office building at 192-196 Lexington Ave. in New York from the Gould estate for over $90 million, The Real Deal reported, citing unnamed sources.

* A Blackstone Group LP affiliate acquired the 120-room Residence Inn Orlando at Millenia and 134-room SpringHill Suites Orlando at Millenia hotels in Orlando, Fla., for $48.5 million from an affiliate of the Prisa Group, the Orlando Business Journal reported, citing Orange County documents.

* InterRent Real Estate Investment Trust bought a property at 236 Richmond Road and another property at Richmond and Churchill in Ottawa for about C$47.3 million on March 27.

* A joint venture between LEM Capital LP and Benedict Canyon Equities sold the 11-building, 104-unit Parc@5 apartment complex at 9140 Brookshire Ave. in Downey, Calif., for $37.5 million to Parc@5 Downey, The Real Deal reported, citing Real Capital Analytics.

* Cole Real Estate Income Strategy (Daily NAV) Inc. paid $37.2 million for a 100% interest in two real estate properties, subsequent to March 31.

* Cole Credit Property Trust V Inc. purchased a commercial real estate property for $26.8 million, subsequent to the first quarter.

* Pure Industrial Real Estate Trust sold its 50% interest in three investment properties in Alberta and one in Manitoba for gross proceeds of about C$23.8 million on May 1 to an existing joint venture partner, and another investment property in Edmonton, Alberta, for gross proceeds of C$2.4 million.

* Dream Unlimited Corp. sold a development property in downtown Toronto for C$10.4 million at its share. The company also, in a 25/75 joint venture with Dream Alternatives, acquired a 33.3% leasehold interest in the 100 Steeles mixed-use development at 100 Steeles Ave. W. in Toronto for C$7.8 million.

* Cole Credit Property Trust IV Inc. sold 11 properties for $15.9 million subsequent to the first quarter.

* Vornado Realty Trust agreed to lease 18,750 square feet at 731 Lexington in New York City to London-based Aqua Restaurant Group, the New York Post reported.

* Agellan Commercial REIT extended its lease with Shoppers Realty Inc. for 133,000 square feet at Parkway Place in Toronto, effective July 15, with Shoppers Realtyexiting 47,000 square feet at the building. The company also agreed to lease about 33,000 square feet of the same property to North York General Hospital at market rental rates. The company recently agreed to sell the property for about C$256.3 million.

Additional coverage

Midtown Equities buying 1 Broadway office building in NYC for $140M