Original Northeast commercial real estate news & events for New York, New Jersey, Boston, Philadelphia, and other northeastern US states, plus expert insights, commentary and analysis into secondary and tertiary regional and local markets.
Brookfield Infrastructure, an affiliate of Brookfield Asset Management, has committed to fund half of the required initial equity investment, currently estimated to be approximately $613 million.
The Silverman Group is buying a 41,000-square-foot, mixed-use warehouse building from the tenant for $3.6 million and has selected JLL as the exclusive leasing agent for the property.
In conjunction with the EdR purchase, Blackstone Real Estate Income Trust, Inc. and partner Greystar Real Estate Partners also reported they had closed on the $1.2-billion purchase of EdR's student housing portfolio.
If the STEM high school project at the former IBM Somers property secures all approvals and lease negotiations are finalized, the lease transaction and the subsequent adaptive reuse project would be the largest of their kind in memory in Westchester County.