The 234 Apartment

The two towers comprising the Sherman Plaza in Van Nuys have sold for about $62 million, according to CBRE Group Inc. in Los Angeles. The office complex , which totals nearly 270,00 square feet at 15350 and 15400 Sherman Way, was bought by Pacific Reach Properties of Vancouver, British Columbia. The purchase is the company’s first office building in the U.S., Pacific said in a statement, although it owns and manages the National City Tower apartments in downtown Los Angeles and Blu Apartments in Beverly Hills. Majestic Asset Management Inc. of Agoura Hills was the seller. The complex was at least 93 percent occupied at the time of the current transaction. Majestic bought the buildings in 2011 for $49.5 million, according to CoStar Group Inc. To compare to other recent-area sales, 5161 Lankershim Blvd., a 197,000-square- foot office building in North Hollywood, sold for $69 million in May. Majestic also sold a 14,600-square-foot building at 4373 Park Terrace Drive within The Cam...

NEW YORK, Aug. 23, 2017 (GLOBE NEWSWIRE) -- Greystone, a real estate lending , investment and advisory company , today announced its closing of a $550,000, 000 permanent Freddie Mac loan made to joint-venture partners The Moinian Group and SL Green Realty Corp . for Sky Residences (“Sky”), one of Manhattan’s premier mixed-use residential buildings . The Greystone Bassuk debt advisory team , led by Richard Bassuk and Drew Fletcher, represented the Borrower and assisted in obtaining the Freddie Mac loan through Greystone’s Affordable Lending team . The transaction marks the largest-ever single-asset tax- exempt financing completed by Freddie Mac and a first-of-its- kind private placement structure that includes permanent financing for hundreds of affordable housing units in New York City. Steve Rosenberg , CEO of Greystone, together with Billy Posey, Joe Mosley, and Jeff Englund, collaborated with Freddie Mac on the structure for Moinian and SL Green, and spearheaded the loan proc...

Along Florida's Turnpike in South Miami -Dade, where potato farms and fields of row crops stretched all the way to the visible horizon at the time when Hurricane Andrew struck , it’s virtually all rows of close-packed houses and townhomes today. Now the unavoidable noise walls are going up to forever block vistas once among the most beguiling in South Florida. Along South Dixie Highway , where scraggly lots, small farm fields and vegetable- and fruit-packing houses once mixed it up with used-car lots and budget motels, the landscape is a cornucopia of strip malls, Publix and Wal-Mart stores and fast- food chain restaurants . And everywhere there is traffic, backed up one way in the morning, when three-quarters of all employed adults in South Miami - Dade head north to downtown Miami , Coral Gables or even Doral to work, and the other way when they drive back home in the evening. Lightning struck as thunderstorms swept through the ruins of Homestead in the days after Hurricane...