BlackSwan Zine

Sixth Avenue property in Village with 178 units sold to an arm of Stonehenge Partners; bankruptcy court must approve the deal, the top bid of 23 received.

Grubb & Ellis AGA US Realty Fund manager Jay Leupp predicted last week that self storage real estate will bounce back before most of the rest of the real estate market, probably within a year or two.

Memorial Sloan-Kettering Cancer Center made a last-minute, $80.1 million bid earlier this week for the five-building complex that once housed the Cabrini Medical Center. The bid tops by a mere $100,000 a December offer from developer J.D. Carlisle.

by CJ Follini
The  J.D. Carlisle Development Corp. submitted a preliminary bid $80 million for the five-building complex that once housed the Cabrini Medical Center—44% less than the bankrupt institution needs to pay off its creditors.
On Friday, Grubb & Ellis filed a motion in the Bankruptcy Court for the Southern District of New York to approve [...]

Colliers International has negotiated the sale of the 40,000-square-foot Arrowhead Professional Park at 16222 N. 59th Ave. in Glendale, for $12.1 million.
Marc Bonilla, associate vice president with Colliers’ Scottsdale office, represented the seller, Arrowhead Health Office Properties, LLC, of Phoenix. Eric Wichterman and Ann Sondrol of Grubb & Ellis represented the buyer, Jomike Realty Co., [...]

When Menlo Capital Group Managing Partner Karan Suri decided to convert an empty former tourist hotel at 851 California St. to student housing, he knew there was a long-simmering need in San Francisco.
But he had no idea how dire the situation was. Within a week, nearly half of the building’s 100 beds had been leased [...]