Vornado Realty Trust has secured $500 million of financing against Penn 11, a 12-million-square-foot office building in Manhattan The interest-only loan, from an undisclosed lender, pays a coupon of Libor plus 275 basis points and matures in October...
Crain’s New York Business New York Governor Andrew Cuomo has extended the state’s moratorium on commercial evictions and foreclosures through the end of the year Cuomo initially announced the ban for 90 days starting on March 20, shortly...
Commercial Real Estate Direct Staff Report JLL has provided $255 million of Freddie Mac financing against the 285-unit 49th Street Apartments in Pinellas Park, Fla, about 10 miles north of St Petersburg, Fla The loan allowed the property’s...
Fannie Mae funded $489 billion of loans against apartment properties this year through September, down 61 percent from the $521 billion it funded during the same period last year The volume for the year so far is relatively strong, given that the...
Commercial Real Estate Direct Staff Report The Starwood Capital Group venture that owns the Louis Joliet Mall in the Chicago suburb of Joliet, Ill, is negotiating a handover of the property through a deed-in-lieu of foreclosure to its lender,...
Commercial Observer Nightingale Group has bought a 75 percent stake in the Whale Building in Brooklyn, NY, in a deal that values the 400,000-square-foot office property at $841 million The New York investment manager bought the stake from Madison...
A venture of Ramsfield Hospitality Finance and funds managed by CarVal Investors has purchased a $3148 million mezzanine loan supported by a portfolio of 11 Hilton-branded hotels with 2,034 rooms in Tennessee, Florida and Michigan The loan was...
Western Wealth Capital has paid $1175 million, or $178,300/unit, for the 659-unit Onnix apartment property in the Phoenix suburb of Tempe, Ariz The Vancouver, British Columbia, investment manager bought the property, at 1500 East Broadway Road, from...
Crain’s New York Business Orb Management has filed a lawsuit in New York State Supreme Court, alleging that fitness company Equinox defaulted on most of its rental payments since March for its space at 421 Hudson St in Manhattan Orb claims...
Commercial Observer A venture of MAG Partners, Atalaya, Safanad and Qualitas, an Australian asset manager, has secured $173 million of construction financing for a 479-unit apartment project in Manhattan Madison Realty Capital provided the...
