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The move for RXR will serve as a recapitalization.

The company is extending its lease to include another 70,076 square feet.

The new senior managing director has helped execute over $20 billion in lodging transactions.

The deal marks the company's fourth purchase.

The excess of supply for the most part drove up vacancies in South Florida.

The $402 million deal includes 60 buildings and affordable 1,000 units.

The property recently went under a $9 million renovation.

The retail chain plans to shut down 500 stores by the end of FY2025.