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American Landmark Pays $125.2Mln for Meadows Office Property in Rutherford, N.J.Friday, 04 September 2015 Written by Dan Moynihan
American Landmark Properties Ltd. has paid $125.2 million, or about $207/sf, for the 603,680-square-foot Meadows office property in Rutherford, N.J. It has lined up $104 million of financing for the purchase. Ladder Capital Finance provided a $92 million senior portion of the financing and is securitizing it in an upcoming CMBS deal.
Merchants Hospitality Aims to Increase Investment ActivityFriday, 04 September 2015 Written by Dan Moynihan
Merchants Hospitality Inc., a New York property investor that specializes in the hotel and restaurant sectors, is looking to become an active player in the broader commercial real estate market. The 25-year-old company has partnered with Adam Hochfelder and raised capital that it would use to pursue sizable investments, primarily in Manhattan and likely with a retail component.
Thursday, 03 September 2015 Written by Dan Moynihan
Tremont Realty Capital has originated $102.5 million of bridge financing to facilitate the acquisition of 260 West 78th St., a two-building property on Manhattan's Upper West Side that houses the Collegiate School. It funded a $37.5 million subordinate piece of the financing and sold off a $65 million A-note to a bank.
Deutsche Lends $300Mln Against Courtyard-Residence Inn in ManhattanWednesday, 02 September 2015 Written by Dan Moynihan
Deutsche Bank has provided $300 million of financing against the Courtyard-Residence Inn Central Park, a 639-room hotel at 1717 Broadway in midtown Manhattan. The debt was used to replace $180 million of construction financing that was provided by Wells Fargo Bank in 2011.
Oversea-Chinese Banking Lends $105Mln Against Manhattan HotelTuesday, 01 September 2015 Written by Dan Moynihan
The Oversea-Chinese Banking Corp. has provided a $105 million loan against the 411-room Element New York Times Square West hotel in midtown Manhattan. The financing helped fund Ascott Residence Trust's $163.5 million purchase of the property.
Private REIT MedEquities Aims for LiquidityMonday, 31 August 2015 Written by Dan Moynihan
MedEquities Realty Trust Inc., a Nashville, Tenn., REIT that owns 21 medical-related properties, is planning to go public. The company was formed roughly a year ago and is now looking to list its shares, which would give its existing shareholders liquidity, while providing it access to public equity that it would invest in healthcare-related properties.
Friday, 28 August 2015 Written by Dan Moynihan
John Hancock Life Insurance Co. has provided $100 million of mortgage financing against the 273-room Four Seasons Boston hotel in downtown Boston. The loan retires $71.4 million of debt that was securitized through JPMorgan Chase Commercial Mortgage Securities Corp., 2005-LDP3.
Allstate, Brandywine Venture Puts Va. Office Properties on Sales MarketThursday, 27 August 2015 Written by Dan Moynihan
A venture of Allstate Corp. and Brandywine Realty Trust is offering for sale two adjacent office buildings with 364,277 square feet in the Washington, D.C., suburb of Falls Church, Va. JLL has been hired to market the eight-story buildings, at 3130 and 3141 Fairview Park Drive, about 13 miles from downtown Washington.
Fortis Offers for Sale Recently Built Apartments in Brooklyn, N.Y.Wednesday, 26 August 2015 Written by Dan Moynihan
Fortis Property Group is offering for sale Atelier Williamsburg, a recently-completed apartment property with 120 units in the North Williamsburg neighborhood of Brooklyn, N.Y. The property's being offered through HFF and could sell for $865,000/unit, which would result in a capitalization rate, upon stabilization, of 4.5 percent.
Investment Manager Sells Stake in U.S. Office Portfolio; More Deals PlannedTuesday, 25 August 2015 Written by Dan Moynihan
Rosemont Realty has sold a majority interest in a portfolio of 16 million square feet of office space to a pair of Hong Kong investors, with which it plans to invest up to $3 billion of class-A office properties in the United States in the coming three years.