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Law360 (May 26, 2020, 6:53 PM EDT) -- FivePoint Holdings LLC may opt to build health care-related space in San Francisco in place of office space amid concerns about the impact of the COVID-19 pandemic on the office sector, the San Francisco Business Times reported on Tuesday. The company is currently planning to build 750,000 square feet of office and research space at Candlestick Point in San Francisco, but may scrap those plans and instead build health care-related space, according to the report
Bank OZK has loaned $29 million to Piermont Properties for a development project in Queens, Commercial Observer reported on Tuesday. The 36-month loan is for 188-11 Hillside Ave., where Piermont is building a seven-story property that will have 101 residential units as well as 19,655 square feet of medical office space, according to the report.
Ocean Bank is hoping to get $16.5 million with the sale of a 2.79-acre Miami development site, the South Florida Business Journal reported on Tuesday. The bank has listed for sale 4238-4276 N.W. Seventh St., which is close to Miami International Airport, and the property currently has zoning for 260 new residential units, according to the report.
--Editing by Alanna Weissman.
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