27TH ANNUAL REIT SYMPOSIUM

PHOTOS BY ©GIORDANO COURTESY OF NYU PHOTO BUREAU

At The Pierre in New York City, the NYU School of Professional Studies (NYU SPS) Schack Institute of Real Estate hosted its 27th Annual REIT Symposium, titled “Mind the REIT Gap,” where more than 400+ REIT industry professionals joined more than 110 NYU SPS Schack Institute students for lively program sessions with industry leaders about the state of the REIT industry.

In addition, at the Symposium, the NYU SPS Schack Institute unveiled a ground-breaking, student-run REIT Investment Fund, giving students hands-on, real-world experience in real estate securities investment management.

GFP Real Estate LLC announced seven new lease transactions totaling 16,201 square feet at the Flatiron District’s 230 Fifth Ave. GFP Real Estate Principal Jane Gural-Senders and Executive Managing Director Harvey Richer represented the landlord, GFP Real Estate and the tenant in each of the leases.

The new leases were with: Marvel Home Fashions (1,999 square feet), Arroya Studio LLC (4,245 square feet), LS Mills Ltd (967 square feet), Reevooy Corp. (870 square feet), Maisonette Tekstil (3,989 square feet), Arkwright LLC (1,867 square feet) and Libeco Ligae (2,264 square feet).

MRA LEASES 70,000 SF AT HUB LIC

Metropolitan Realty Associates LLC (MRA) announced that five transactions totaling over 70,000 square feet of leases have been executed at Hub LIC, 47-25 34th St. in Long Island City, Queens, New York. Hub LIC is a four-story, 346,000-squarefoot flex industrial building. MRA owns and manages the building with Nuveen Real Estate. Newmark brokers Scott Klau and Ryan Gessin represented the landlord.

Satis&Fy leased 11,192 square feet to serve as its New York operations warehousing and offices. Satis&Fy was represented by Newmark’s Jordin Gosin and Alex Rosenblum.

JLL's Capital Markets group arranged a $350 million debt and equity capitalization for the development of The Italic, a luxury mixed-use community located in Long Island City, Queens, New York. JLL represented the borrower, American Lions, a joint venture between Fetner Properties and the Lions Group. JLL also arranged the joint venture equity.

The Debt Advisory team was led by Senior Managing Director Christopher Peck and Director Alex Staikos. Senior Managing Director Rob Hinckley, Senior Director Steven Rutman and Director Nicco Lupo led the Equity Advisory team.

Marx Realty announced that investment advisory firm Helix Partners Management has signed a five-year, 7,000-square-foot lease on the eighth floor at 545 Madison Ave. The firm is relocating from 399 Park Ave.

Helix Partners was represented by Greg Maurer-Hollaender of CBRE,

INNOVO, AFFINIUS CLOSE $334M RECAPITALIZATION while a Cushman & Wakefield team led by Tara Stacom represented Marx Realty.

Namded after Marx Realty Founder Leonard Marx, the recently unveiled, 7,000-square-foot Leonard Lounge represents the culmination of 545 Madison's top-to-bottom renovation.

Innovo Property Group (IPG) with Affinius Capital LLC (Affinius Capital) closed a $334 million recapitalization of 2505 Bruckner Blvd., a one million-square-foot, premium urban industrial facility in the Bronx. The existing construction lender, Bank OZK, provided a $250 million senior mortgage, while PIMCO provided a

$84 million mezzanine loan.

Delivered in 2022, 2505 Bruckner Blvd. is a multistory urban industrial facility featuring industrial amenities including 28- to-32-foot clear height ceilings, 106 loading doors and 664 interior parking spaces for cars and sprinter vans.

MERCY COLLEGE RENEWS LEASE AT HUTCHINSON METRO CENTER

Simone Development Companies has signed a long-term renewal with Mercy College for 125,522 square feet of classroom, administrative and amenities space at 1200 Waters Place in the Bronx.

James MacDonald, vice president of leasing at Simone Metro Properties, assisted by Sean Heneghan, assistant general counsel, represented the owners. Bill Cuddy and Greg Maurer-Hollaender of CBRE represented Mercy College in the renewal.

In 2003, Mercy College became the second anchor tenant at 1200 Waters Place.