Real Estate News

SL Green Signs 31 Office Leases Totaling 300,000 Square Feet in Last 60 Days

Year-to-Date Office Leasing Exceeds 800,000 Square Feet

NEW YORK, June 05, 2023 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), New York City’s largest office landlord, today announced that it has signed 31 office leases covering 299,137 square feet to date in the second quarter, increasing 2023 office leasing volume to 803,819 square feet, while maintaining an office leasing pipeline in excess of 1.0 million square feet.

Alpine Income Property Trust Provides Operational Update

WINTER PARK, Fla., June 05, 2023 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company”) announced today that in connection with the Company’s participation in NAREIT’s upcoming REITWeek Conference, the Company has published its June 2023 Investor Presentation to its website and provided an update on its year-to-date investment activity:

During 2023, the Company acquired nine net lease retail properties for total acquisition volume of $60.5 million at a weighted average going-in cash cap rate of 6.8%.

Park Hotels & Resorts Inc. Announces Cessation of Payment on $725 Million Non-Recourse CMBS Loan Secured By Two of Its San Francisco Hotels

TYSONS, Va., June 05, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE:PK) today announced that, starting in June, it ceased making payments toward the $725 million non-recourse CMBS loan which is scheduled to mature in November 2023, and is secured by two of its San Francisco hotels—the 1,921-room Hilton San Francisco Union Square and the 1,024-room Parc 55 San Francisco.

Greystone Arranges $287 Million Financing Package for Douglaston Development’s 456-Unit Mixed-Income Rental Development in Brooklyn, NY

NEW YORK, June 02, 2023 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, announced it has arranged $287 million in combined construction financing and preferred equity for Douglaston Development’s 1057 Atlantic Avenue, a 474,000-square-foot, 17-story, 456-unit mixed-income multifamily rental development in Brooklyn’s Bedford-Stuyvesant neighborhood.

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