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.
TH Real Estate, an affiliate of Nuveen (the investment management arm of TIAA), will retain the remaining 50.1% interest in 501 Boylston St., which totals 610,000 square feet of office and retail space.
The cash and stock merger deal, which was announced on May 2, is expected to close on Sept. 7. The deal values MTGE at $19.65 per share of MTGE common stock based on the closing price of Annaly's common stock on April 30, 2018.
“There are still value-add opportunities in southern New Jersey, especially compared to those in the northern part of the state where pricing is considerably higher," says Kislak senior vice president Matt Weilheimer.