Top News - Free (8446)
Real Estate Crowdfunding Platform Launches Non-Traded REITWednesday, 25 November 2015 Written by Dan Moynihan
Fundrise, among the pioneers in the real estate crowdfunding business, has launched an effort to raise $50 million for a REIT, whose shares will be sold to accredited and non-accredited investors, via its online platform. It would be the first such REIT to take advantage of recently relaxed rules governing capital-raising efforts.
Woori Lends $122Mln Against Manhattan's Martha Washington Hotel, Adjacent LandTuesday, 24 November 2015 Written by Dan Moynihan
Woori Bank has provided $122 million of financing against the 256-room Martha Washington Hotel and an adjacent parcel in the North of Madison Square Park area of Manhattan. The mortgage helped fund CIM Group's $157.75 million purchase of the property, at 29 East 29th St.
American Realty Capital Hospitality Says Might Be Short of CashTuesday, 24 November 2015 Written by Dan Moynihan
American Realty Capital Hospitality Trust Inc. has warned that it might end up short of the cash needed to complete its proposed purchase of three hotel portfolios containing 44 properties with 5,271 rooms. Its sponsor and broker-dealer affiliate have stopped raising equity on its behalf. But it might seek an equity partner or sale of certain assets to come up with the cash it needs.
Monday, 23 November 2015 Written by Dan Moynihan
New York Community Bank has provided a $128.5 million mortgage against Tower 52, a 300,000-square-foot office building at 150 East 52nd St. in midtown Manhattan. The financing was used to retire a $100 million CMBS loan that wasn't set to mature until next April. The bank this year through September has originated some $9 billion of multifamily and commercial mortgages.
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New York Life, TIAA Lend $648.4Mln Against 2 Boston Office BuildingsFriday, 20 November 2015 Written by Dan Moynihan
New York Life Insurance Co. and TIAA-CREF have provided $648.4 million of mortgage financing against 500 Boylston and 222 Berkeley St., a pair of adjacent office buildings with roughly 1.3 million square feet in the Back Bay area of Boston. The properties are owned by a venture of Oxford Properties Group and JPMorgan Asset Management.
Shorenstein in Talks with Wells Fargo for Loan Against Phila. OfficeThursday, 19 November 2015 Written by Dan Moynihan
Shorenstein Properties is said to be in talks with Wells Fargo Bank for floating-rate financing to fund its $200 million purchase of 1700 Market St., an 841,172-square-foot office building in downtown Philadelphia. The loan would be used to defease $107.8 million of CMBS financing and $12.2 million of mezzanine debt.
Realty Mogul Writes $49Mln Bridge Loan Against Atlanta ApartmentsThursday, 19 November 2015 Written by Dan Moynihan
Realty Mogul has provided $49 million of bridge financing, allowing Elite Street Capital to completely renovate a 431-unit apartment property in Atlanta's Buckhead area. The loan, against 3200 Lenox Road NE, is the largest so far written by the two-year-old Los Angeles firm, which is best known for its real estate crowdfunding platform.
C-III Buys CMBS B-Piece; First in More Than Seven YearsWednesday, 18 November 2015 Written by Dan Moynihan
C-III Capital Partners, which earlier this year launched an opportunistic investment fund, has circled its first CMBS B-piece in more than seven years. The fund that's buying the junior bonds of the transaction is designed to pursue high yields by investing in a variety of mortgage-related assets.
Parkway Fund Hires CBRE to Market for Sale Two Liberty Place in PhiladelphiaWednesday, 18 November 2015 Written by Dan Moynihan
A Parkway Properties Inc. fund is looking to sell the 940,654 square feet of office space in the 57-story Two Liberty Place building in downtown Philadelphia. It has hired CBRE to market it for sale. The property is expected to sell for more than $251 million, which would result in a 5.4 percent capitalization rate.
Mack-Cali Offers for Sale 2 Washington, D.C., Office BuildingsTuesday, 17 November 2015 Written by Orest Mandzy
Mack-Cali Realty Corp. is offering for sale a pair of office buildings with a combined 362,000 square feet in Washington, D.C., as part of its effort to reposition its portfolio. The two 12-story buildings, at 1201 Connecticut Ave. NW, with 190,000 sf, and 1400 L St. NW, with 172,000 sf, are being offered through Eastdil Secured.