Moonachie
Moonachie, NJ · Real Estate
marejournal.com
Bergman’s 238,000 s/f 7 Giralda Farms reaches 100% occupancy
MADISON, NJ — Bergman Real Estate Group announced that 7 Giralda Farms, a 238,000 s/f class A office building in Madison has reached 100% occupancy. This milestone follows a successful repositioning that began when Bergman Real Estate Group acquired the property in July 2021. The achievement follows the signing...
jerseydigs.com
TripJaunt
multifamilyaffordablehousing.com
Merchants Capital Structures $185M Loan for $607M Brooklyn Project
BROOKLYN, N.Y. — The New York City Public Housing Preservation Trust, a public benefit corporation created in 2022 to finance major renovations of New York City Housing Authority (NYCHA) properties, has reached its first financial closing with the $607 million modernization of Nostrand Houses. Merchants Capital structured a $185...
The Bergen Record
greenlodgingnews.com
Host Hotels & Resorts Acquires 1 Hotel Brooklyn Bridge & Renaissance Dallas at Plano Legacy West
BETHESDA, MD.—Host Hotels & Resorts, Inc., the nation’s largest lodging real estate investment trust, announced that it has acquired the leasehold interest in the 195-room 1 Hotel Brooklyn Bridge (the “1 Hotel”) for $202 million in cash. The property has 83 years remaining on the ground lease with a government nonprofit lessor. The 1 Hotel acquisition price represents a 10.2x EBITDA multiple or a cap rate of approximately 8.2 percent on the property’s 2026 estimated results. The company has also acquired the fee simple interest in the 308-room Renaissance Dallas at Plano Legacy West Hotel (the “Renaissance Plano”) for approximately $172 million in cash. The Renaissance Plano acquisition price represents an 11.2x EBITDA multiple or a cap rate of approximately 7.9 percent on the property’s 2026 estimated results.