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Rates & lending news – page 44
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My New $100 Mortgage Company — Just in Time for NY’s Tax on $1M All-Cash Home BuysNew York lawmakers are reportedly considering a new 1 percent tax on all-cash home purchases over $1 million. The proposal is designed to raise revenue and help close New York City’s budget gap.
Haussmann Development Closes on Construction Loan for Manhattanville Mixed-IncomeHaussmann Development announced the closing of a $40,750,000 construction loan with Affinius Capital LLC, in partnership with Axonic Capital LLC, to finance the ground-up development of an 84-unit multifamily residential building at 16–20 Convent Ave. in Northern Manhattan.
Naftali and Access Real Estate Close on $374M Refi for Phase I of Williamsburg WharfNaftali Group and Access Real Estate have closed on a $374.35-million refinancing for Phase I of Williamsburg Wharf, Naftali’s 3.75-acre master-planned development along Williamsburg’s East River shoreline. The refinancing was provided by Barings.
Vermont Legislature Sends C-PACE Bill to Governor for SignatureThe Commercial Property Assessed Clean Energy (C-PACE) program is on the verge of becoming law in Vermont. Sponsored by Sen.
Industrial Realty Group, Sachem Capital Merge to Form $3.4B Industrial REITOne of the largest private owners of U.S. industrial real estate is merging with a public mortgage trust.
Representative imageSouthern Land Company Launches Mortgage DivisionForty years after its founding as a Tennessee developer, Southern Land Company is writing a new chapter.
Gradiant Closes on Series E Financing to Drive Advanced Water SolutionsBsoton-based Gradiant on Monday announced the close of Series E financing, valuing the company at $2 billion. The financing was led by Safar Partners and Hostplus Superannuation Fund, with participation from ClearVision Ventures and other global investors.
San Jose’s Bank of Italy Building Set for Residential ConversionCushman & Wakefield arranged $74.1 million in financing on behalf of the Silicon Valley Initiative Partnership for the conversion of the historic Bank of Italy building at 12 S. 1st St. in downtown San Jose. Deutsche Bank provided the financing.
Barings Refis Williamsburg Wharf With $374M LoanA joint venture between Naftali Group and Access Industries has landed a $374.35 million loan to refinance a master-planned residential development along the Williamsburg waterfront in Brooklyn, Commercial Observer can first report.
Representative imageFoss Real Estate Arranges $7M in Bridge Financing for Arlington Industrial PropertyARLINGTON, TEXAS — Local financial intermediary Foss Real Estate Partners has arranged $7 million in bridge financing for Oakhollow Business Park, an 84,469-square-foot industrial property in Arlington.
Silicon Valley Initiative Partnership Receives $74.1M in Financing for Office-to-Residential Conversion Project in San JoseSAN JOSE, CALIF. — Silicon Valley Initiative Partnership has received $74.1 million in financing for the conversion of the historic Bank of Italy building, located at 12 S. 1st St. in downtown San Jose, into a mixed-use residential and retail property.
20 Times Square Loan Returns to Special ServicingA commercial mortgage-backed securities (CMBS) loan secured by a 99-year ground lease on Maefield Development’s 20 Times Square property has returned to special servicing, according to an alert from Morningstar Credit.
CIM Group Launches National Power PlatformCIM Group has launched Permanent Power Company, a national power platform, following a series of recent transactions that include securing a long-term power purchase agreement (PPA) and a $400-million financing commitment from HPS Investment Partners, part of BlackRock Private…
Development Team Closes on $100M Loan for Sr. Living CommunityBLDG Real Estate and The Fellowship Family closed on $100 million in financing for the 205-unit Fellowship Wildlight in Nassau County.
Dermot Secures $355M Refinancing on Upper West Side ApartmentsThe Dermot Company, a vertically integrated multifamily investment manager, owner, and operator, has secured a new 10-year, $355 million loan to refinance 21 West End Ave., a 48-story, 616-unit apartment community on Manhattan’s Upper West Side.
UBS Refis Chelsea Office Building With $161M LoanA joint venture between Vornado Realty Trust and Aurora Capital Associates has sealed a $161 million loan to refinance an office and retail asset in Manhattan’s Chelsea neighborhood.
Brookfield, Qatar Investment Authority Refi 2 Manhattan West for $1.9BBrookfield at the Qatar Investment Authority have secured a $1.9-billion refinancing for 2 Manhattan West, part of the Manhattan West mixed-use complex. The non-recourse mortgage comes with a10-year term and a coupon of 5.53%, or a 107-basis point spread.
Affinius, Axonic Provide $43M Construction Loan for Sarasota Multifamily ComplexAllen Morris Company has secured $43 million in construction financing to build the second phase of Bayside North, a seven-story, 96-unit luxury residential complex in Sarasota, Fla., Commercial Observer can first report.
MCEC Closes $43M C-PACE Loan for Marriott Downtown Frederick Hotel in MarylandFREDERICK, MD. — The Maryland Clean Energy Center (MCEC) has closed a $43 million loan for the development of the Marriott Downtown Frederick at Carroll Creek, a 204-room hotel underway in downtown Frederick.
Representative imageOak Street Capital Arranges $15M Construction Loan for Mixed-Use Project in Taylor, TexasTAYLOR, TEXAS — Oak Street Capital, an Austin-based financial intermediary, has arranged a $15 million construction loan for a mixed-use project that will be located in the Central Texas city of Taylor.