Real Estate

Newmark Group arranged a $675 million refinancing for Independence Plaza, a 1,328-unit residential complex in Manhattan’s Tribeca neighborhood, on behalf of Vornado Realty Trust and Stellar Management. This deal highlights investor confidence in the New York City multifamily market. Vornado and Stellar are key players in NYC real estate, with Vornado also focusing on sustainability. Newmark’s global presence and financial performance are also noted.

Encore Enterprises acquired a Class B medical office building in Dallas for $7 million, demonstrating resilience in a challenging market. The financing comes from Cadence Bank, marking a new partnership. The acquired property at 16980 N. Dallas Parkway will also become Encore’s new headquarters, expanding its portfolio to 27 properties.

DJI has secured a prime Shenzhen location for its global headquarters, winning the bidding for land in the super-headquarters zone for ¥2.287 billion. The facility, spanning 15,657.68 square meters, is slated to foster an intelligent aviation ecosystem and will exclusively house DJI and its affiliates for 30 years. The project is expected to generate substantial annual output and tax revenue, further solidifying DJI’s position in the global market.