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Cole Capital Launches Non-Traded REITFriday, 05 February 2016 Written by Dan Moynihan
Cole Capital has launched its latest non-traded REIT offering, Cole Office & Industrial REIT III Inc. The unit of VEREIT Inc. is aiming to raise $2.5 billion through the entity, its first such offering in years. Its latest offering will adopt a net-asset value pricing model roughly two years after its stock offering launches.
Blackstone Lends $285Mln Against Manhattan's Rivertower ApartmentsThursday, 04 February 2016 Written by Dan Moynihan
Blackstone Real Estate Debt Strategies has provided $285 million of mortgage financing against Rivertower, a 311-unit apartment property in Manhattan's Sutton Place neighborhood. The 38-story property is owned by a venture of Slate Property Group and GreenOak Real Estate, which recently bought it for $390 million, or $1.25 million/unit, resulting in a low-3 percent capitalization rate.
Boston Properties to Retire $211.25Mln CMBS Loan Against Va. Retail, Office PropertyThursday, 04 February 2016 Written by Dan Moynihan
Boston Properties Inc. plans to use a portion of the proceeds from the sale of $1 billion of unsecured notes to retire $211.25 million of financing that encumbers the Fountain Square office and retail property in the Washington, D.C., suburb of Reston, Va. The REIT plans to retire the debt in April, after it becomes open to prepayment.
Will the Music Stop?Thursday, 04 February 2016 Written by Dan Moynihan
Commercial real estate prices are at record levels throughout the country. Interest-rate hikes are on the way, leaving many to worry that a drop in sales pricing is not that far behind.
Beacon Offers for Sale Arlington, Va., Office PropertyWednesday, 03 February 2016 Written by Dan Moynihan
Beacon Capital Partners is offering for sale Pentagon Center, a 911,817-square-foot office property in the Washington, D.C., suburb of Arlington, Va. The Boston investment manager has hired Cushman & Wakefield to market the 46-year-old property, which is one of 19 properties that remain in the collateral pool for a $1.1 billion CMBS loan.
Prudential Seen Partnering With SocGen on Conduit-Lending VentureTuesday, 02 February 2016 Written by Dan Moynihan
The buzz is that Prudential Mortgage Capital Co. will team up with Societe Generale on a CMBS conduit-lending venture similar to one it operates with Perella Weinberg Partners. That venture, formed in 2011, is set to be dissolved this summer, after having written some $2.8 billion of conduit loans.
Monday, 01 February 2016 Written by Dan Moynihan
New York company has hired Cushman & Wakefield to market for sale 55 Hope St., a 117-unit upscale apartment building with 6,200 square feet of retail space in the Williamsburg neighborhood of Brooklyn, N.Y. Units in the building are 97 percent leased, while the retail component is fully leased.
Middle-Market Lender Puts Portfolio of Performing Bridge Loans on Sales BlockFriday, 29 January 2016 Written by Dan Moynihan
Procida Funding & Advisors LLC has put a portfolio of $148 million of performing high-yield loans on the sales block, in what could be a first-of-its-kind offering. The Englewood Cliffs, N.J., bridge lender has hired NGKF Capital Markets' loan-sales advisory group to handle the offering, which involves 28 loans against properties within a 100-mile radius of its headquarters.
Friday, 29 January 2016 Written by Dan Moynihan
World Wide Group has paid $103 million, or $321,875/unit, for the SkyHouse Raleigh, a 320-unit apartment property in downtown Raleigh, N.C. The New York company bought the property, at 308 South Blount St., from a venture of Novare Group and Batson-Cook Development Co., which had offered it through JLL.
JCR Capital's Latest Investment Fund Gets Oversubscribed at $329.5MlnThursday, 28 January 2016 Written by Dan Moynihan
JCR Capital has raised $329.5 million of commitments for its latest investment vehicle, well exceeding its $250 million target. The Denver company's fund, JCR Capital Commercial Real Estate Finance Fund III LP, provides capital - including joint venture and preferred equity, as well as mezzanine and hard-money debt financing - against middle-market properties across the country.