Pacific Housing has recapitalized four affordable apartment properties and two seniors-housing properties with a total of 1,032 units in the Sacramento, Calif., area in a deal valuing them at $181.6 million. The recapitalization involved bringing in Avanath Capital Management LLC...
Commercial Real Estate Direct Staff Report Safehold Inc., which iStar Inc. took public five years ago, is in talks to merge with its former parent. Safehold, which specializes in buying and structuring ground leases, said a special committee of its...
Crain's Chicago Business John Buck Co. is offering for sale 33 North LaSalle St., a 403,000-square-foot office building in Chicago. The local developer has hired JLL to market the 38-story property. It is encumbered by a $58.4 million mortgage that...
Class Amt $mln Sub Level% Avg Life (yrs) Rating Fitch Rating Kroll Rating Moody's Pricing % Yield% Final Pricing (bp) Bnch mark A-1 16.16 30.00 2.46 AAA AAA Aaa 100.000 4.315 +125 P spread A-2 46.02 30.00 4.90 AAA AAA...
Crain's Chicago Business DRA Advisors has paid $106 million, or $185,639/unit, for the Bennington, a 571-unit apartment property in Bensenville, Ill., a suburb of Chicago. The New York investment manager purchased the property from FPA Multifamily, which had acquired it...
Atlanta Business Chronicle A venture of Jair Lynch Real Estate Partners and Nuveen has bought a pair of affordable-housing properties with a combined 716 units in the Atlanta suburb of Clarkston, Ga. Core Real Estate Partners of Windermere, Fla., sold...
Orlando Business Journal GVA Real Estate Group has acquired the Casa Mirella Apartment Homes, a 276-unit property in the Orlando, Fla., suburb of Windermere, Fla., for $80.2 million, or about $290,580/unit. The Austin, Texas, company purchased the property from an...
PCCP LLC has provided $43.4 million of financing for the construction of a 58,950-square-foot industrial property in the Hunts Point area of the Bronx, N.Y. The property, at 1100 Leggett Ave., two blocks from the Bruckner Expressway, already has been...
Square Mile Capital Management has provided $56.3 million of financing against the 306-room Sofitel Philadelphia, facilitating the property's $80 million, or $261,438/room, purchase by a venture of Clearview Hotel Capital and Oaktree Capital Management. The venture purchased the hotel from Pebblebrook...
Commercial Observer Chetrit Group and Stellar Management have secured a $365 million loan from Citigroup, BMO Capital Partners and Starwood Property Trust against the 850-unit Park West Village apartment property on the Upper West Side of Manhattan. Galaxy Capital arranged...
Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
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