Commercial Observer

UCLA is accelerating plans for a landmark life sciences research campus on L.A.’s Westside thanks to a $120 million gift from billionaire surgeon and investor Dr. Gary K. Michelson and his wife Alya Michelson. Read more: https://lnkd.in/egUG_SFX #RealEstate #CommercialRealEstate

Plymouth Industrial REIT and Sixth Street have formed a strategic partnership that will provide the real estate investment trust with approximately $500 million in new capital to pursue new acquisitions. Read more: https://lnkd.in/emEtWSsj #RealEstate #CommercialRealEstate

Report: Demand for data centers in the U.S. has increased significantly so far this year, even as operators struggle to fill the labor gap and face concerns over the country’s electrical capacity to power the properties. (via JLL) Read more: https://lnkd.in/eG7uaEnh #RealEstate #CommercialRealEstate

Vanderbilt Office Properties and Trinity Capital Advisors have scored a $96 million loan from BMO to refinance an office building in Downtown West Palm Beach, Florida. CBRE represented the borrower in the deal. Read more: https://lnkd.in/eecWWnmK #RealEstate #CommercialRealEstate

MTA Blames Harlem Landlords for Second Avenue Subway Project Delays Read more: https://lnkd.in/ek5wkBg7 #RealEstate #CommercialRealEstate

The Brodsky Organization, GFP Real Estate and Sorgente Group have filed an application to convert the Flatiron Building’s 204,593 square feet of aging office space into 60 luxury condominium units. Read more: https://lnkd.in/eGZxXQ_u #RealEstate #CommercialRealEstate

Ken Griffin continues to make waves in Miami. The latest undulation comes via the newly unveiled plans for a 54-story global headquarters for his Citadel and Citadel Securities in the Magic City’s Brickell enclave. Also for today: More New York office tenants aren’t moving that far when they move at all. #RealEstate #CommercialRealEstate

The Ronto Group, Inc. and Wheelock Street Capital have secured $234 million in construction financing from Apollo Global Management, Inc. to build Rosewood Residences Naples, a 42-unit, luxury condo in Naples, Florida. Read more: https://lnkd.in/eCZvCNFn #RealEstate #CommercialRealEstate

Elon Musk’s Tesla has paid $18 million to Adam I Gordon’s WILDFLOWER LTD for a 40,037-square-foot parking lot in Maspeth, Queens. Read more: https://lnkd.in/eszYfj2t #RealEstate #CommercialRealEstate

JBL Asset Management has purchased a strip mall in Davie, Florida from Continental Realty for $22.3 million. JLL represented the seller in the transaction. Read more: https://lnkd.in/eRCvB4pB #RealEstate #CommercialRealEstate