Despite predictions of a ramp-up in new deals, a lack of remaining properties and a dearth of development will likely keep new issuance in the UK at last year's levels.
The venture, known as National Office Partners, has tackled its seventh acquisition, that of 1100 Louisiana Street in downtown Houston. The building contains 1.3 million sf.
The real estate firm is evaluating 15 hotel management firms as potential acquisition candidates. Its plan is to buy up to $500 million of upscale hotels over the next five years.
Lenders are reporting ample funds to lend this year, according to a survey by a Boston mortgage broker. But they remain cautious. They're loathe to lend on hotels and speculative projects.
Witkoff has teamed up with First Boston and Lehman Brothers to win a heated bidding contest for Shell Mex House in London.
The firm has about $400 million of junior-grade bonds for sale, and the word is they should be sold by June.
The investment bank is preparing three deals, two involving Japanese assets and a third involving British assets. If they go well, more may follow later.
Armed with KeyCorp's balance sheet, the Kansas City, Mo., mortgage bank is planning to lead three conduit transactions this year. It is now looking for potential partners and underwriters.
The acquisition could make KeyCorp a more active player in the CMBS market. National Realty Funding, meanwhile, gets more muscle to write conduit loans.
What were once considered useless factories in the Boston area are finding new life as telecommunications facilities. And the sudden interest in such properties has brokers scrambling to find formerly unwanted properties.
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© 2023 Commercial Real Estate Direct All rights reserved..