NEW YORK CITY-The private equity firm is set to acquire a distressed 16-building office portfolio from Morgan Stanley, published reports show.

NEW YORK CITY-Ironstate Development closed on the sale of a former Naval Base on Staten Island’s North Shore Friday with a ceremony on the future site of a $150-million planned redevelopment. The project will include 900 market-rate units and 30,000 square feet of retail.

HACKENSACK, NJ-The company’s president and CEO Jeffrey Wolfer tells GlobeSt.com’s Jacqueline Hlavenka that the firm will emphasize low-cost, fast-funding.

NEW YORK CITY-The partnership plans to construct a 35-story, 165-unit apartment building at 309 Fifth Ave. between East 31st and 32nd streets.

HACKENSACK, NJ-The new firm, targeting loan sizes ranging from $5 million to $100 million, will be headed by industry veteran Jeffrey Wolfer.

NEW YORK CITY-The Bloomberg administration says the city will reach a record 90,000 hotel rooms by the end of 2011. At the same time, LW Hospitality Advisors’ Daniel Lesser tells GlobeSt.com that New York is still “under-hoteled.”

SHIPPENSBURG, PA-Under the first phase of the plan, the privately-held student housing developer will construct three housing facilities to accommodate 924 students at Shippensburg University, GlobeSt.com has learned.

NEW YORK CITY-HFF arranged the adjustable-rate loan with RBC Capital Markets for the six-story, 130,478-square-foot mixed-use property on the Upper East Side.