KeyBank, special servicer of what had been a $285 million CMBS loan against the 248,457 square feet of retail space at 229 West 43rd St. in Manhattan's Times Square area, has hired...
Read moreBeach Point Capital Management has provided $39.6 million of short-term financing, allowing Basis Industrial to refinance a loan against a 60,000-square-foot warehouse in Armonk, N.Y., and its planned development of a self-storage facility and pickleball facility on an...
Multi-Housing News A venture of Accesso and The Meyers Group has lined up $88 million of financing against Avery Dania East, a 336-unit apartment complex in Dania Beach, Fla. BlackRock Realty Advisors provided $80 million, while SteepRock provided...
Dallas Business Journal The 381-unit 3700M apartment building in Dallas is expected to be offered at a July 2 foreclosure auction, according to a notice filed this week with Dallas County. Vero Sade of Houston bought the property...
Commercial Real Estate Direct Staff Report A fund managed by Blue Owl Capital has paid $35.5 million, or $390.66/sf, for the 90,871-square-foot research and development property at 1010 Rincon Circle in San Jose, Calif. The price was first...
Knighthead Funding has provided $22 million of financing against The Luna, a recently completed apartment property with 108 units in Nashville, Tenn. The two-year loan, which pays a fixed coupon, allows the property's developer, CA South of Nashville,...
ConnectCRE BlackRock's US Real Estate Debt team has provided $38.5 million of financing to facilitate the purchase of Chandler Airport Business Park, a 318,683-square-foot industrial property in Chandler, Ariz. Cushman & Wakefield arranged the floating-rate debt. CapRock Partners...
Thompson Thrift has raised $270 million of equity commitments for an investment vehicle that will fund the development and construction of apartment properties in certain suburban markets across the country. The Indianapolis investment manager was founded by John...
Commercial Real Estate Direct Staff Report Apollo Realty Income Solutions Inc. has paid $58 million, or nearly $82/sf, for a recently completed industrial building within the I-269 Industrial Park in the Memphis, Tenn., suburb of Byhalia, Miss. The...
Class Amt $mln Sub Level % Avg Life (yrs) Rating Fitch Rating Moody's Rating Kroll Price % Yield % Final Pricing (bp) Bnch mrk A-1 6.68 30.00 2.75 AAA Aaa AAA 99.999 5.499 +85 J-spread A-2 65.79...
Commercial Real Estate Direct Staff Report The $124.21 million CMBS loan against the 249-room Royalton Park Avenue Hotel in Manhattan has reached its extended maturity without a payoff. So, it's been transferred to special servicer LNR Partners for...
Commercial Property Executive GPR Ventures has paid $42.7 million, or $127.20/sf, for Capitol Industrial Center North & South, a 335,701-square-foot industrial property in Sacramento, Calif. The Campbell, Calif., company purchased the property from BKM Capital Partners. City National...
Crain's New York Business The Vornado Realty Trust venture that owns the 315,000-square-foot office building at 640 Fifth Ave. in midtown Manhattan has paid off its $500 million mortgage, ponying up $100 million of fresh equity and a...
Commercial Real Estate Direct Staff Report The Commodity Futures Trading Commission's plan to relocate from the Lafayette Centre in Washington, D.C., has prompted the transfer of the office property's $243 million CMBS loan to special servicer Rialto Capital...
Class Amt $mln Sub Level % Avg Life (yrs) Rating Fitch Rating Moody's Rating DBRS Price % Yield % Final Pricing (bp) Bnch mrk A-1 0.925 30.00 2.51 AAA Aaa AAA J-spread A-2 55.00 30.00 4.67 AAA...
Commercial Real Estate Direct Staff Report Praedium Group has paid $64 million, or $264,462/unit, for Livano Deer Valley, a 242-unit apartment property in Phoenix. The New York investment manager purchased the property from its developer, LIV Development, in...
Commercial Real Estate Direct Staff Report Arbor Realty Trust has provided $23.08 million of Fannie Mae financing against the 194-unit North Mountain Foothills apartment property in Phoenix. Tower Capital arranged the loan on behalf of the property's owner,...
Alternative lender 3650 REIT has provided $50 million of financing to fund the completion of the 62-unit 1 Park Row residential condominium property in lower Manhattan. The Miami lender funded the loan through its bridge and event-driven lending...
Blue Arch Capital has paid $15.25 million, or $169.30/sf, for Doctors Medical Park, a 90,076-square-foot medical-office property in the Washington, D.C., suburb of Silver Spring, Md. The Aventura, Fla., investment manager bought the property from Medical Center Associates...
Commercial Real Estate Direct Staff Report CIM Group has provided $125 million of financing for the expansion of HPC Campus, a 342,000-square-foot data center in Ellendale, N.D. The balance of the financing has the potential to increase to...
Commercial Real Estate Direct Staff Report A venture of Namdar Realty Group, Mason Asset Management and CH Capital Group has paid $15.75 million for the Westgate Mall in Spartanburg, S.C. The sale, completed last week, resolves what originally...
Tampa Bay Business Journal Strategic Facility Partners has bought The Henry, a 537-bed student-housing property in downtown Tampa, Fla., for $128.1 million, or about $238,547/bed. The Columbus, Ohio, nonprofit purchased the 23-story property, with 188 units at 100...
Commercial Real Estate Direct Staff Report Berkadia has hired Louis Friedel as senior managing director of the company's Los Angeles and San Francisco mortgage banking offices. Friedel joins the brokerage from TPG Angelo Gordon, where he was managing...
Commercial Observer Azora Exan has paid $47.9 million, or $748,437/room, for the 64-room hotel at 1149 Broadway in the Flatiron section of Manhattan. The U.S. arm of European real estate investor Azora acquired the property from Premier Equities...
BWE has provided $39.5 million of financing under the U.S. Department of Housing and Urban Development's 221(d)(4) program for the construction of Pueblo Springs, a 199-unit apartment property in Pueblo, Colo. The loan, which can transition to permanent...
Commercial Real Estate Direct Staff Report The appraised value of the Capital Bank Plaza in Raleigh, N.C., has been reduced to $18.2 million. That's down from $32 million in 2017 and is less than the $21.2 million loan...
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