Top News - Free (8281)
BofA Lending Group Provides $388.1Mln Loan Against Atlanta OfficesTuesday, 05 May 2015 Written by Dan Moynihan
A group of lenders led by Bank of America has provided $338.1 million of senior financing, while Invesco Mortgage Capital Inc. has provided $50 million of mezzanine financing against the Concourse Corporate Center, a 2.2 million-square-foot office complex in Atlanta that recently was purchased by Building and Land Technology Corp.
Transfer of Large CMBS 2.0 Loan to Special Tied to Liquor LicenseMonday, 04 May 2015 Written by Dan Moynihan
The transfer to special servicing of a $96.4 million CMBS loan against three hotels owned by Ty Warner Hotels & Resorts could very well have been tied to issues surrounding liquor licenses at two of the collateral properties. Ty Warner, who holds the licenses through an affiliated entity, last year pleaded guilty to tax evasion, which might put those licenses in jeopardy.
MetLife Lends $310Mln Against Boston's Fleet CenterFriday, 01 May 2015 Written by Orest Mandzy
Metropolitan Life Insurance Co. has provided $310 million of mortgage financing against the Fleet Center, a 1.1 million-square-foot office and retail building at 75 State St. in downtown Boston. The financing was part of a broader recapitalization of the property, which involved the sale of a 49 percent stake to AustralianSuper.
Point at Alexandria Apartment Property in Va. Offered for SaleFriday, 01 May 2015 Written by Orest Mandzy
A venture of Pantzer Properties and Dune Capital Management has listed for sale the Point at Alexandria, a 532-unit apartment property in the Washington, D.C., suburb of Alexandria, Va. JLL has the listing, which should fetch $130 million, or $244,361/unit, resulting in a cap rate in the mid-5s.
Pantzer to Pay $111Mln for 432-Unit Apartment Property in North Bethesda, Md.Thursday, 30 April 2015 Written by Dan Moynihan
Pantzer Properties has struck a deal to pay about $111 million, or roughly $256,944/unit, for the Monterey, a 432-unit apartment property in the Washington, D.C., suburb of North Bethesda, Md. The New York investor is buying the property from Angelo, Gordon & Co.
San Francisco Hotel Seen Selling for $88.4MlnThursday, 30 April 2015 Written by Dan Moynihan
Walnut Hill Group is in the market to sell the 221-room Best Western Plus Tuscan hotel in San Francisco. Eastdil Secured has the listing for the full-service property, which is expected to fetch about $400,000/room, or $88.4 million.
Strengthened Multifamily Market Crimps New Investment Fund's Return ProjectionWednesday, 29 April 2015 Written by Dan Moynihan
Sares-Regis Group is marketing its second investment fund targeting multifamily properties and telling prospective investors that it will generate a lower return than its predecessor because of the run-up in apartment-sector prices in recent years.
Freddie Mac, which started securitizing multifamily loans through its K-series program in 2008, has completed 80 such transactions backed by some 5,500 loans totaling $100 billion. Roughly 10 percent of the $964 billion of the country's outstanding multifamily loans have been funded through the K series.
Shorenstein Shops D.C.'s Franklin TowerMonday, 27 April 2015 Written by Dan Moynihan
Shorenstein Properties is shopping for sale Franklin Tower, a 227,000-square-foot office property in the East End submarket of Washington, D.C. The 12-story building, next to the McPherson Square mass transit station and three blocks from the White House, is 74 percent leased.
Moody's Says Conduit-Loan Leverage Hits Levels Reached During PeakFriday, 24 April 2015 Written by Dan Moynihan
Conduit loans that were securitized during the first quarter had leverage levels, as determined by Moody's Investors Service, that were similar to the levels reached during the market's peak. It added that, based on deals it's reviewed in the current quarter, leverage levels could very well top those reached during the peak.