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Private Real Estate Daily

from Private Wealth Daily

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The lead

Amazon leases 90,970-sf Everett warehouse for Leo satellite unit

The building at 6611 Associated Blvd. had not been physically occupied since at least 2022, and Colliers began marketing it for lease in March 2024.

The Wrap

Boston Properties closes 10.6% stake sale in 343 Madison to AVRS Partners

The 46-story Midtown tower is 56% pre-leased and carries $1.2 billion in construction financing, Commercial Observer reported.

Real estate debt

CRED iQ estimates a $6.8 billion equity gap in maturing multifamily debt

Loans written in 2021 and 2022 at a median 3.35% coupon account for the largest share of the shortfalls.

Deals

Irvine sells One North Wacker to Ortega's Ponte Gadea for $550M

The buyer assumes a $353 million CMBS loan Irvine took out in 2021, and the price is about $11 million above Irvine's combined 2011 and 2015 purchase price.

The Wrap

BXP sells 10.6% of 343 Madison tower to AVRS Partners

The 46-story Midtown project is 56% pre-leased and has $1.2 billion in construction financing, Commercial Observer reported.

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