Commercial Real Estate Direct

A total of $1.87 billion of CMBS loans against Philadelphia office buildings are delinquent. Six of the collateral buildings, which back $525.18 million of financing, are or soon will be in receivership.

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Philadelphia Business Journal A venture of Brickstone Cos., Madison International Realty, and Scully Co. is offering for sale the residential portion of The Collins mixed-use complex in downtown, or Center City, Philadelphia. Newmark has been tapped to market the seven-story property, at 1112-28 Chestnut St., with pricing expected in the low $30 million range. The […]

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Charlotte Business Journal Onward Investors has paid $51 million, or $99.74/sf, for a portfolio of three buildings totaling 511,344 square feet within the Coliseum Centre office park in Charlotte, N.C. The Minnetonka, Minn., investor acquired the buildings from Praelium Commercial Real Estate of Irvine, Calif., and South Street Partners of Charlotte, which had bought them […]...

Atlanta Business Chronicle Pinnacle Financial Partners has signed a lease for 165,000 square feet at Ten Twenty Spring, a 525,000-sf office building in Atlanta. The bank, which merged with Synovus Financial Corp. earlier this year, will use the space as its corporate headquarters. It will begin moving in during the second half of next year. […]

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Atlanta Business Chronicle Allen Morris Co. has lined up $113.7 million of financing for its Star Metals Offices, a 267,000-square-foot office building in Atlanta. Banco Inbursa provided the loan, which retires $100 million of construction financing from Bank OZK and Barings. Allen Morris, of Miami, completed the 15-story property in 2021 at 1055 Howell Mill […]

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