Announcing Commercial Observer’s Top Young Professionals of 2023!

Announcing Commercial Observer’s Top Young Professionals of 2023! This week, who says there’s no debt financing out there? Closed transactions brought the festive cheer (finally!) by showing there’s plenty for the right transactions, and that lenders certainly aren’t always shying away from sizable opportunities. For example, Naftali closed a $236 million construction loan for its Upper East Side condo project; Madison Realty Capital contributed toward a $241 million debt package on Cronin Development’s planned residential condominium tower in Boston; and Macerich sealed a $710 million refinance for Tysons Corner Center. Phew! Also, riding high on this momentum of transaction activity, Commercial Observer highlights some new, young blood in the industry in our 2023 Top Young Professionals lists this week. So pull up a chair to the fireplace, settle in (in the words of Mrs. Doubtfire, “Yo, yo, make a wicked cup of hot cocoa”) and learn more about the CRE industry’s rising stars in Finance, Leasing and Sales, and AEC. Top Young Professionals 2023 These are the people who will be taking over the business one day. As we look at them, the future looks much brighter. [Read More](   Top Deals Of The Week   - Mall Giant Macerich Closes[$710M Refi](for Tysons Corner Center in NoVA - [JPMorgan](, [Starwood]( Lend $236M on Upper East Side Condo Project - Prospera Growth Fund Nabs $97M Financing Package for [Utah Student Housing]( Asset - Barclays, Argentic Refi Fort Lauderdale [Office Property]( With $55M Loan - Howard U Secures $31M From [Amazon Fund]( to Preserve Affordable Apartments - [Basis Industrial]( Acquires Four Warehouses, Refinances Two for $220M   Guest Column   JPMorgan Chase’s Al Brooks Gives His 2024 CRE Outlook Multifamily and neighborhood retail remain strong, but commercial real estate faces uncertainty from interest rates. [Read More](   Q & A   Dayssi Olarte de Kanavos On Ritz-Carlton Projects in NYC and South Florida Dayssi Olarte de Kanavos is the president and COO of Flag Luxury Group, which owns several Ritz-Carlton properties. [Read More](   People Moves   KSR Hires Seasoned Brokers to Expand Retail Leasing Kassin Sabbagh Realty is stacking its retail leasing bench with new hires from the likes of Newmark, Colliers and an in-house broker from JTRE Holdings. [Read More](   Other Stories From This Week   SoCal Office Campus Limps to Foreclosure Auction The Pasarroyo office complex in Pasadena is heading to a foreclosure auction later this month. [Read More]( Hudson Pacific Sells Studio Debt and Silicon Valley Land for $189M The Los Angeles-based real estate investment trust divested certain tranches of a loan secured by its Hollywood Media Portfolio of studios and soundstages. [Read More]( Developer Buys Boerum Hill Office Building for $39M to Redevelop Into Apartments The new owner of an office building in Boerum Hill, Brooklyn, plans to tear down the structure and replace it with a 154-unit residential tower. [Read More]( Developer Buys Boerum Hill Office Building for $39M to Redevelop Into Apartments The new owner of an office building in Boerum Hill, Brooklyn, plans to tear down the structure and replace it with a 154-unit residential tower. [Read More]( Count It Up: L.A.’s Property Values Climb to Near $2 Trillion, Assessor Reports Los Angeles County and its more than 4,000 square miles are home to nearly $2 trillion worth of residential and commercial real estate, according to Assessor Jeff Prang. [Read More]( Walker & Dunlop Partners With Black Commercial Real Estate Network BCREN, an advocacy group launched in the summer of 2020 with the goal of amplifying the voices of Black members of a largely white industry, has formed a strategic partnership with Walker & Dunlop. [Read More]( CRE Markets Poised for Growth in 2024: Newmark CEO Distress in the commercial real estate market has bottomed out and conditions will soon be on the upswing as more investors from the private equity world seize opportunities to jump into the space, Newmark CEO Barry Gosin said during a keynote discussion at the Real Estate Board of New York’s annual commercial brokerage holiday luncheon. [Read More](   What We're Reading This Week   - MetLife Downplays [Concern]( Over Commercial Real Estate [Bloomberg] - With Offices Sitting Empty, Landlords Are [‘Handing Back the Keys’]( [NYT] - Wall Street bank bosses warn lawmakers of [economic toll]( from tough new rules [Reuters]   [View in Browser]( | [Advertise]( | [Forward to a Friend]( [Manage your email preferences or unsubscribe]( [Share your thoughts: Help us improve with our quick feedback survey!]( [Commercial Observer]( © Copyright 2023 [Observer Media]( 1 Whitehall Street, Floor 7, New York, NY 10004 This newsletter was published 12/07/2023