Top News - Free (8620)
Brexit Decision Not Seen Having Big Impact on U.S. Real Estate MarketWednesday, 29 June 2016 Written by Orest Mandzy
Great Britain's decision last week to split from the European Union should have little impact on commercial real estate in the United States. Initially, CMBS spreads had widened somewhat, but since have tightened. Meanwhile, trophy properties in major markets might see more demand.
Hanover Taps CBRE to Sell Upscale Baltimore ApartmentsWednesday, 29 June 2016 Written by Orest Mandzy
Hanover Co. is offering for sale Hanover Brewers Hill, an upscale 440-unit apartment property in the Canton area of Baltimore. The Houston developer has hired CBRE to market the three-year-old property, which consists of two neighboring four-story buildings at 3700 Toone St., less than four miles from the Inner Harbor.
Commercial Real Estate Direct Staff Report
CWCapital Offers $110Mln CMBS Loan Against N.C. Mall AgainTuesday, 28 June 2016 Written by Orest Mandzy
CWCapital Asset Management is once again offering for sale the $110 million mortgage that encumbers the Westfield Shoppingtown Independence Mall in Wilmington, N.C. It marks the second time in less than a year that the Bethesda, Md., special servicer has offered the asset.
Terra Capital Eyes Opportunity, Starts Writing Mezzanine Construction LoansTuesday, 28 June 2016 Written by Orest Mandzy
Terra Capital Partners, which opportunistically got back into the mezzanine-lending business in 2009, has now moved into the construction lending business. The New York investment manager recently has been able to take advantage of the pull-back from the construction sector by banks, which traditionally have provided such loans.
JLL Writes $118.25Mln Fannie Loan Against Mass., ApartmentsMonday, 27 June 2016 Written by Orest Mandzy
JLL Multifamily has originated a $118.25 million Fannie Mae loan against Windsor at Cambridge Park, a 398-unit apartment property in Cambridge, Mass. The property was recently purchased by GID for $215 million.
Friday, 24 June 2016 Written by Dan Moynihan
Morgan Stanley has provided a $265 million mortgage against the Shops at Skyview Center, a 560,000-square-foot retail property and neighboring 2,500-space parking garage in the Flushing section of Queens, N.Y. The loan takes out a $195 million mortgage that Morgan Stanley provided two years earlier.
Published in Top News - Free
Dominant Norfolk, Va., Retail Property Hits Sales MarketThursday, 23 June 2016 Written by Dan Moynihan
McKinley Associates is offering for sale the JANAF Shopping Yard, an 885,594-square-foot retail property in Norfolk, Va., among the largest shopping centers in the country when it was built some 57 years ago. The property could sell for some $110 million. It's being offered through CBRE.
Doug Cooper, Long-Time CMBS B-Piece Specialist, Joins CornerstoneWednesday, 22 June 2016 Written by Dan Moynihan
Douglas Cooper, a long-time player in the CMBS B-piece business, is joining Cornerstone Real Estate Advisers. He previously had built the dominant B-piece operations at American Capital Ltd., Allied Capital Corp. and Criimi Mae Inc. The thinking is that Cornerstone is positioning itself to take advantage of opportunities stemming from pending risk-retention rules.
Behringer's Efforts to Sell Houston Offices Fall FlatTuesday, 21 June 2016 Written by Dan Moynihan
Behringer Harvard Opportunity REIT I Inc.'s efforts to sell two office properties with 384,779 square feet in Houston have hit a wall. The two properties are encumbered by a total of $26.8 million of CMBS debt. One has already been turned over in a deed-in-lieu of foreclosure. The other might have a similar fate.
Wells Fargo Lends $105.5Mln Against Hotel PortfolioMonday, 20 June 2016 Written by Dan Moynihan
The bank has lent $105.5 million against a portfolio of five hotels totaling 1,396 rooms in New Jersey, Georgia and Florida. The floating-rate debt matures in June 2020 and can be extended for an additional one-year term. The hotels had been encumbered by a $98.4 million loan that was securitized through Wachovia Bank Commercial Mortgage Trust, 2007-C32.