archivechannel

A Los Angeles-based investment firm has spent north of $300 million on two multifamily properties on opposite sides of the country, Commercial Observer has learned. JRK Property Holdings put down a combined $315 million to acquire Chase Knolls, a 401-unit, garden-style community in Los Angeles’ Sherman Oaks neighborhood, and WestEnd25, a 283-unit high-rise in Washington, D.C. JRK declined to disclose the names of the sellers, though property records show that Chicago-based Waterton sold Chase Knolls, and D.C.-based JBG Smith sold WestEnd25. JRK purchased WestEnd25 for $186 million, according to property...

The Canadian pension investment fund that in April acquired majority ownership of Washington, D.C.’s The Wharf has landed a $1 billion loan to refinance the development’s debt. Public Sector Pension Investment Board (PSP Investments) secured the five-year, $1.03 billion loan in the wake of its $1.8 billion deal to take over The Wharf from Hoffman & Associates and Madison Marquette. Wells Fargo, Goldman Sachs and Morgan Stanley originated the loan according to Fitch Ratings, and the trio plan to sell the debt as a commercial mortgage-backed securities trust, expected to...

It’s been only 18 months since Chad Tredway rejoined J.P. Morgan as head of real estate for the Americas for J.P. Morgan Asset Management (JPMAM), but the industry vet is already going global.  The firm just appointed Tredway global head of real estate, Commercial Observer can first report. In his new role, Tredway will oversee JPMAM’s real estate operations in the Americas, Europe and Asia Pacific, further extending the platform’s footprint and investment know-how across the world. SEE ALSO: Ariel Aber Embracing Brokerage Change at CBRE “I am thrilled to be...

Indianapolis-based mall giant Simon Property Group saw a mixed bag in its first-quarter numbers amid mounting caution over the impact of tariffs on retail. The retail real estate investment trust saw funds from operations drop to $413.7 million in the first quarter of 2025 compared to $667.2 million in the previous quarter, while funds from its real estate operations totaled $1.113 billion compared to $1.261 billion in the last three months of 2024. The company reported more than $1.47 billion in revenue, up from $1.44 billion-plus in the fourth quarter...