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Rates & lending news – page 61
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JLL Arranges Sale, Financing of Edison Industrial Service FacilityJLL Capital Markets arranged the $24.5-million sale and acquisition financing of 76 National Rd., an approximately 5.5-acre, fully occupied industrial service and outdoor storage facility in Edison, NJ.
Miami Beach’s Goodtime Hotel Faces $149M Foreclosure SuitThe good times appear to be over at the Goodtime Hotel in Miami Beach, which counted famed music producer Pharrell Williams and Miami hospitality mogul David Grutman as partners, after the lender launched a $149.3 million foreclosure lawsuit.
SL Green Secures $1.65B Refi for Historic NYC Office TowerOne of SL Green Realty’s prime New York City office properties just got a new round of capital.
M&T Bank Deploys $138M for Philly Affordable Housing ProjectThe Philadelphia Housing Authority (PHA) has sealed a $137.5 million financing package for its planned affordable housing development in West Philadelphia, Commercial Observer has learned.
MDH Partners Closes $946.8M Refinancing for National Industrial PortfolioATLANTA — Atlanta-based MDH Partners has closed a $946.8 million refinancing for Project Interstellar, a 59-property, 13.5 million-square-foot industrial real estate portfolio that spans 15 states. The names and locations of the properties were not released.
War Shock, Yield Repricing and Central Bank Pauses That No Longer Feel DovishExecutive Summary Central banks are in a reluctant holding pattern. The Fed, BoE, ECB and others have paused, but futures curves now lean toward “no cuts” and assign a non‑zero probability to hikes as policy credibility collides with energy‑driven inflation. U.S.
Affinius Capital Provides $400M Loan for Refinancing of Downtown Brooklyn Multifamily ProjectNEW YORK CITY — Affinius Capital has provided a $400 million loan for the refinancing of 102 Fleet, a 30-story multifamily project in downtown Brooklyn.
Gantry Secures $14.8M Refinancing for Latitude Queen Anne Apartments in SeattleSEATTLE — Gantry has secured a $14.8 million permanent loan to refinance maturing debt for the Latitude Queen Anne, a multifamily property located in Seattle’s Queen Anne neighborhood. Located at 500 3rd Ave.
Affinius Lends $300M to Refinance Downtown Brooklyn ApartmentsAffinius Capital LLC closed on a $300-million loan to refinance 102 Fleet, a Class A, 495-unit, 30-story multifamily project with 3,700 square feet of ground-floor retail space located in Brooklyn.
Citi Refis Brooklyn Retail Asset With $29M CMBS LoanDeveloper Michael Orbach has sealed $28.5 million of commercial mortgage-backed securities (CMBS) debt to refinance a portfolio of retail assets in Clinton Hill, Brooklyn, Commercial Observer has learned.
Affinius Provides $300M to Refi 102 Fleet Street in Downtown BrooklynThe Jay Group has secured $300 million to refinance 102 Fleet Street, a 495-unit luxury multifamily property off Flatbush Avenue in Downtown Brooklyn.
Ytech Lands $25M to Expand Historic Brickell Mansion in MiamiDevelopment firm Ytech nabbed a $25 million construction loan to expand a historic mansion in Miami’s Brickell district and to turn it into the company’s headquarters, Commercial Observer has learned.
Representative imageWider Commercial Mortgage-Backed Securities Spreads Signal Investor FatigueWhile the commercial mortgage-backed securities market has been going gangbusters of late, investors seem to be saying there is such a thing as too much of a good thing. “Investors are showing some fatigue, as issuance has been very high,” said Lea Overby, head of U.S.
Avatar Financial Group Provides $16.1M Acquisition Loan for Flex Campus in Hawthorne, CaliforniaHAWTHORNE, CALIF. — Avatar Financial Group has provided a $16.1 million bridge loan for the acquisition of The Yukon, an industrial campus in Hawthorne.
Avatar Lends on Vacant Industrial Campus in Hawthorne’s “Space Corridor”Avatar Financial Group LLC has provided a $16.1-million bridge loan secured by The Yukon, a three-building industrial campus totaling 52,074 square feet and located at 13100-13130 Yukon Ave. in Hawthorne.
Gowanus Refi Scores a First with Freddie Mac’s New Lease Up ProgramJLL Capital Markets arranged a $136-million financing for 655 Union, a newly delivered 193-unit trophy multifamily property located in the Gowanus neighborhood of Brooklyn.
Representative imageCMBS Loan Backed by Lurin Capital Townhouse Community Headed to Special ServicingThe commercial mortgage-backed securities loan on an apartment complex owned by an embattled real estate developer is headed to special servicing following a recent bankruptcy and numerous lawsuits.
CBL Uses Four Texas Malls in Packaging Portfolio for RefinancingShopping center owner and operator CBL Properties used four Texas malls of 13 properties for collateral to secure corporate refinancing. CBL refinanced $425 million financing secured by its 13 enclosed malls.
Walker & Dunlop Provides $75M Acquisition Financing for Baltimore-Area ApartmentsQuest Management Group has secured $75 million in acquisition financing to purchase the Worthington Apartments, a 612-unit multifamily community in Pikesville, Md., a suburb 15 miles northwest of Baltimore. The seller was not disclosed, according to a release.
J.P Morgan, Vici Lend $4.3B for One Beverly Hills CompletionBillions in new financing will help raise some Cain in Beverly Hills.