Real Estate Rumors: Citi, Civic Builders, EastBanc

Law360 (February 22, 2021, 5:04 PM EST) -- Citigroup and Bank of America have loaned $99 million in commercial mortgage-backed securities for a portfolio of Boca Raton, Florida, office and retail properties, Commercial Observer reported Monday, citing sources with knowledge of the matter. The loan to TJAC Development is for City National Bank Plaza, The Boardwalk at 18th Street, Fountains Center and Grove Centre, which have a combined roughly two dozen retail and office buildings, according to the report.

Civic Builders has picked up a school building in Brooklyn, New York, for $11.5 million, The Real Deal reported Monday. The deal is for 720 Livonia Ave., a 28,000-square-foot property,...

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