Middle Market Digest For The Northeast

by Steve Lubetkin, Globest.com

Here is a roundup of Middle Market activity in the Northeast for Friday, December 30, 2016.

Commentary

A quiet holiday week wrapped up the year in the Northeast, with a few owners and developers taking advantage of continued low interest rates to reposition financing packages on several properties. Eastman Companies refinanced its Eisenhower Corporate Campus in Livingston, NJ for the second time in less than 10 years; and the Brooklyn Navy Yard Development Corporation refinanced outstanding EB-5 debt with two conventional loans totaling $62 million. As the new administration prepares to take office in less than a month, most observers are betting on continued low interest rates and tax relief.


Thanks to a brisk holiday season for retailers, both online and in bricks-and-mortar stores, capital continues to chase industrial properties in the New York-New Jersey metroplex as fast as ground can be broken, and many legacy multifamily properties are getting record sale prices as second and third-generation owners transition those assets to developers anxious to add amenities and attract a new cohort of millennial tenants.
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MIDDLETOWN, PA—Madison Hawk Partners will conduct a sealed bid auction for a 167-acre development site in the Woodland Hills planned residential community in Middletown Borough, Dauphin County, PA. The offering includes a 12.5-acre site fully approved for the construction of 150 rental units in five separate buildings.  The remaining acreage has preliminary approval for the development of 290 for-sale, single-family homes.  Bids can be placed on the entire development or either parcel individually. The sealed bid deadline is Thursday, January 19, 2017.

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