A Prewar Building's History Becomes an Amenity

"[12 East 88th Street] was one of the quieter Candela buildings that was not on everyone's radar," said Matthew Baron, the president of Simon Baron, which is also a sponsor of 'Elegance in the Sky: The Architecture of Rosario Candela,' an exhibition at the Museum of the City of New York running through October 28. "It was important for us to bring awareness to the fact that the building had this rich history."

—The New York Times

Industry Leaders Share Predictions in Live-Voting Session on Capital Markets

Where are capital markets—and specific real estate sectors—headed? In a novel ULI panel at the ULI Spring Meeting in Detroit, 11 of the Institute's top leaders revealed their expectations through instant polls on ten market questions. Cia Buckley Marakovits, chief investment officer at Dune Real Estate Partners, and Ron Insana, a business broadcaster with CNBC and MSNBC, moderated the fast-paced session.

—Urban Land Magazine

Women at Work

"There were very few women in senior roles," Coatsworth recalls. "And in male-dominated fields, men often have no idea what we need to be more productive. It's not their fault, but we need to feel more comfortable advocating for ourselves." Coatsworth didn’t ask the company to accommodate her needs as a new mother, she says, because "I was embarrassed to ask. Looking back, I absolutely could have asked, and I am certain they would have accommodated."

—Columbia Business: Ideas and Insights

Allianz Real Estate Names Peggy DaSilva Head of Loan and Asset Management

Allianz Real Estate announced that Peggy DaSilva is joining its team as the head of the Loan and Asset Management Group for the Americas, effective May 7. DaSilva brings over 30 years' experience in commercial real estate and financial services to her new role. Her expertise includes complex deal structures and extensive experience in acquisitions and asset management, both in the U.S. and Canada.

—WLNS.com

ProMedica, Welltower Partner to Acquire HCR ManorCare and Create $7 Billion Network

"ProMedica's wellness focused strategy and investment commitment to the HCR ManorCare assets will make them more consequential sites of care and enhance their value," said Welltower CEO Tom DeRosa.

—Healthcare Finance

Welltower to Present at the NAREIT 2018 Investor Conference

Welltower Inc. today announced that Tom DeRosa, Chief Executive Officer of Welltower, will present at the National Association of Real Estate Investment Trusts (NAREIT) REITWeek 2018 Investor Conference.

—PR Newswire

Latham & Watkins Leases 407K SF at Iconic Rockefeller Center

The leading global law firm will relocate its Manhattan offices and occupy 10 floors in Rockefeller Group’s 1271 Avenue of the Americas by 2020. In the deal, Latham & Watkins was represented by Scott Gamber and Craig Reicher of CBRE, while building ownership was represented by a CBRE team of Mary Ann Tighe, Howard Fiddle, John Maher, Sarah Pontius, Evan Haskell and Dave Caperna, in coordination with an in-house Rockefeller Group leasing team of Guiltinan and Jennifer Stein.

—Commercial Property Executive

Law Firm Covington & Burling Expanding Digs to 193K SF at NY Times Building

"We are pleased that Covington & Burling has increased their commitment at 620 Eighth Avenue," CBRE's Howard Fiddle, who handled the deal for the landlord with colleagues Evan Fiddle and Evan Haskell, said in a statement. "Since the...building first opened in 2007, it has consistently outperformed the market in terms of occupancy and rental rates under the management of Forest City Ratner Companies."

—Commercial Observer

The Top 10 NYC Office Leases in April

[Law firm Latham & Watkins] signed a lease for the 25th through the 34th floors of the Midtown West building, totaling for 407,000 square feet at 1271 Sixth Avenue. Scott Gamber and Craig Reicher of CBRE represented the tenant. Jennifer Stein of Rockefeller Group represented the landlord in-house, alongside Mary Ann Tighe, Howard Fiddle, John Maher, Sarah Pontius, Evan Haskell and Dave Caperna of CBRE.

—The Real Deal

Boricua College in Brooklyn Sells for $31M

Cushman & Wakefield arranged the sale of the vacant, three-building asset in Williamsburg, which can be converted into a mixed-use development with luxury apartments. Cushman & Wakefield's team representing the seller included Guthrie Garvin, Brendan Maddigan, Ethan Stanton, Michael Gembecki and Alexander Ball. Gideon Gil, executive director in Cushman & Wakefield’s Equity, Debt and Structured Finance team, arranged a senior stretch financing facility of $30 million for a $36 million budget scope, with G4 Capital Partners as the lender.

—Commercial Property Observer

Developer Breathes New Life into Fairfield's Hotel Hi Ho

When you're driving on the Merritt Parkway, the iconic Hi Ho sign lets you know you’re in Fairfield. "That sign is burned into my brain as a little kid in the back of my parents' car, driving north to Bridgeport and seeing that neon sign meant we were only a couple of exits away from home," said Edward Gormbley, Managing Partner for Workforce Partners.

—Fox 61

Kayne Anderson, Bridge Group Begin Deploying Billion-Dollar Senior Housing Funds

Los Angeles-based KAREA is building a portfolio that will be "literally coast to coast," Max Newland, leader of the firm's senior housing real estate team, told Senior Housing News. "In terms of geographic locations, we don’t have certain markets that we've redlined or that we’re only going to look at," he said.

—Senior Housing News

Olshan Properties Announces Retail Highlights

"In the past year, we generated significant leasing activity throughout our retail portfolio and, most notably, within our mixed-use destination properties," says Andrea Olshan, CEO at Olshan Properties. "Our properties benefit from prime locations, strong demographics and a longstanding relationship with the communities in which they operate. We continually adapt our offerings to changing consumer habits by integrating experiential retail and fresh new entertainment and dining concepts to better serve the needs of our customer base at each property."

—PR Newswire

Developers Add a Missing Piece to Their Projects: Hotels

However, unfamiliarity with how hotels operate can hinder chances for success. Stores or office tenants may lease space for several years, for example, which can provide developers with rental income during challenging economic times. But hotels rent out rooms daily, which makes them more susceptible to downswings. Hotel brands typically require landlords to spruce up the property every few years, said Andrea Olshan, chief executive of Olshan Properties, a developer based in New York.

—The New York Times

SquareFoot Raises $7M to Modernize the Search for Office Space

"The pace of change in our industry is rapidly increasing since Charlie and I started out in real estate several decades ago," says Paul Pariser, Co-CEO of Taconic Investment Partners. "There is no better time to look to improve upon the essential building blocks of our business, so we're excited to be part of SquareFoot's mission to create efficiencies."

—PR Newswire

No Sci-Fi: The Future of Urbanism is Bright

"The future of urban living will not be like its past. At all. In fact, it will be quite the opposite. The 1960’s 'white flight' movement of middle classes from inner cities to suburbs has reversed, giving way in America and worldwide to the rebirth of city centers, oftentimes quite spectacularly."

—Medium

Robert Reffkin Shares the 8 Keys to Compass's Success in Agent Roundup

"No is the killer of dreams. No is the killer of great ideas. It's the end of a conversation," Reffkin said of creating a company that harnesses positive energy. "As an entrepreneur, you have to believe that challenges are what make opportunities possible. You have to believe in solutions."

—Inman

JLL Arranges $120M in Refinancing for Bryant Park Office Tower

JLL Capital Markets has arranged a $120 million floating-rate loan to refinance 130 West 42nd Street, a Class A office tower with ground-floor retail in the Bryant Park neighborhood of Manhattan. The borrower was Tribeca Associates. Aaron Appel, Jonathan Schwartz, Brett Rosenberg and Adam Schwartz led the JLL team in handling the debt assignment. The 29-story office building, which was built in 1918, totals 250,000 square feet and is located within one block of 15 subway lines.

—RE Business Online

JLL Team Arranges $120M Refinance at Bryant Park

Tribeca Associates has refinanced its Bryant Park office tower with a $120 million loan. JLL's Capital Markets team arranged a floating-rate loan to refinance 130 West 42nd, a Class A tower with ground floor retail. Aaron Appel, Jonathan Schwartz, Brett Rosenberg and Adam Schwartz led the JLL team handling the debt assignment.

—Real Estate Weekly

Simon Property Group to Spend $4B on Experiential Upgrades

"We're a company of experiences and therefore perfectly positioned to capture the hearts, minds and imaginations of our shoppers with new, exciting and dynamic ways to live, work, play, stay and shop at Simon," David Simon, chairman & CEO of Simon Property Group, said in a prepared statement.

—Commercial Property Executive

After Gut Renovation, Leslie J. Garfield's Old Townhouse Asks $23M

Slaven's two-year renovation involved pushing back the building on two levels, adding a fifth floor and excavating the basement. In all, 1,700 square feet were added to the property, which now totals 5,300 square feet. The below-grade basement has natural light, nine-foot ceilings and houses a media room and 500-bottle wine cellar.

—The Real Deal

Who's News: Deals and Dealmakers

Related Companies announced that Philippe Visser has been named President of Related Office Development. Visser will be responsible for the development and construction of the firm's commercial office pipeline nationally, including the current and future Hudson Yards office offerings, One Columbus Circle, 517 West 35th Street and Farley-Moynihan Station.

—Real Estate Weekly

SquareFoot Raises $7M to Give Offices an Easier Way to Find Space

Finding [office space for a growing startup] is a whole other story, outside of just searching on Google and crossing your fingers. It's why Jonathan Wasserstrum, Justin Lee, and Aron Susman started SquareFoot, which looks to not only create a hub for these vacant offices, but also have the systems in place—including brokers—to help companies eventually land that office space.

—TechCrunch

The Digital Trend in Finding Office Space

"Businesses today understand that an office is much more than a space to work. It's a physical extension of the brand, its culture, and values," said Jonathan Wasserstrum, co-founder and CEO of SquareFoot. "By bringing transparency and technology to an industry that's historically had neither, we're empowering businesses to find the perfect home with confidence and ease."

—PR Newswire

SquareFoot Has Raised $7 Million in Series A to Help You Find Your Perfect Office

SquareFoot is a commercial real estate startup that just raised $7 million in Series A, bringing the total raised to $13.4 million. Jonathan Wasserstrum is the Co-founder and CEO of SquareFoot. He joins Cheddar to discuss how SquareFoot is bringing tech to the commercial real estate space. (Video.)

—Cheddar