General News
MONY Lends $23Mln for Ga. Hotel
MHI Hospitality Corp. has lined up $23 million of permanent financing from MONY Life Insurance Co., allowing it to refinance the Hilton Savannah DeSoto.MHI, which is headquartered in Williamsburg, Va., said it plans to use $11.2 million of the proceeds...
Equastone Pays $382Mln for Crescent’s Dallas Portfolio
Equastone has completed its $382 million acquisition of 3 million square feet of office space and 43 acres of developable land in Dallas from Crescent Real Estate Equities Co.The San Diego firm agreed last month to purchase the 13-property portfolio....
Collateral Lends $217.3Mln of Freddie Debt for Seniors Housing
Collateral Real Estate Capital has provided $217.3 million of Freddie Mac financing for a portfolio of 21 seniors housing properties with 1,927 units.The financing is comprised of a number of loans, each with a 10-year term and one-year extension. They...
Financing Conditions Worsen in Multifamily Sector
Commercial Real Estate Direct Report In a spillover from the subprime mortgage crisis, financing conditions are worsening for multifamily property.A July survey of multifamily housing executives, conducted by the National Multi Housing Council, found that conditions have deteriorated considerably more...
House Committee Approves Terrorism Insurance Bill Extension
Commercial Real Estate Direct Staff ReportA Congressional committee has approved a bill extending the federal backstop for insurers of terrorism risk.The House Committee on Financial Services this week approved the Terrorism Insurance Revision and Extension Act, which would extend until 2017...
Trinity Pays $27Mln for Suburban Phila. Office Complex
Trinity Capital Advisors has paid roughly $27 million for 1041 Cassatt Road, a 131,000-square-foot office complex in the Philadelphia suburb of Berwyn, Pa.The Philadelphia real estate firm purchased the five-building property from Vertex Inc., which manufactures tax software, and offered...
Collateral Lends $217.3Mln of Freddie Debt for Seniors Housing
Collateral Real Estate Capital has provided $217.3 million of Freddie Mac financing for a portfolio of 21 seniors housing properties with 1,927 units.The financing is comprised of a number of loans, each with a 10-year term and one-year extension. They...
Sterling, Hines Venture Sells San Francisco Office Building for $247Mln
A venture between Sterling American Property and Hines has sold 405 Howard St. in San Francisco for $247 million, or $490/sf.The buyer is a venture between GE Real Estate and Ashforth Pacific Properties of Portland, Ore. The price they paid...
Triple Net Paid $21Mln for Georgia Apartments
Triple Net Properties paid $21 million for Century Hills, a 200-unit apartment complex in Augusta, Ga.As reported, the Santa Ana, Calif., firm purchased the property on behalf of tenant-in-common investors from Centennial Investment Properties of Atlanta. But at the time,...
Financing Conditions Worsen in Multifamily Sector
Commercial Real Estate Direct Report In a spillover from the subprime mortgage crisis, financing conditions are worsening for multifamily property.A July survey of multifamily housing executives, conducted by the National Multi Housing Council, found that conditions have deteriorated considerably more...
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