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Crescent Heights Inc., which had developed the NEMA San Francisco apartment property in the city's SoMa area, has negotiated the modification of the $110 million of mezzanine debt that the 754-unit property supports.
The Phoenix crowdfunding company has launched Arizona Multifamily Opportunistic Fund, through which it's aiming to raise $75 million of equity commitments that it'll invest opportunistically. Its strategy is to renovate the properties it buys, allowing it to bring rents up...
Ashford Hospitality Trust Inc., which has been paring its portfolio as it faces the maturity of more than $2.55 billion of debt this year and next, has launched a private REIT that it has seeded with four of its select-service...
The $55 million CMBS loan against the 64,460-square-foot office property at 57 East 11th St. in Manhattan hasn't had a payment made against it since last November, when its sole tenant, WeWork Inc., rejected its lease through bankruptcy. The loan...
Commercial property prices declined last year by 5.3 percent, according to the Trepp Property Price Index. Prices had dropped by 0.82 percent from the third quarter and are now 7 percent lower than they were at their peak, during the...
Vero Capital has partnered with Prime Finance to recapitalize a portfolio of four office properties with 987,072 square feet in a deal that involved the discounted pay off of a $198 million loan.
Commercial Real Estate Direct Staff Report Wells Fargo Bank, Goldman Sachs and Societe Generale have provided $260 million of senior financing against the Kenwood Towne Centre enclosed shopping mall in Cincinnati. The loan allowed the property's owner, a 50-50 venture...
The amount of office space in Cleveland totaled 90.8 million square feet in the fourth quarter of last year, according to Cushman & Wakefield. That's down from 157.4 million sf at the start of 2023. The removal of so-called "zombie"...
The average rent for multifamily units nationwide is expected to increase by 1.8 percent this year, to about $1,741/unit, according to Yardi Matrix. That's been revised upward from the market-research company's original projection of a 0.8 percent rental rate increase...
The volume of CMBS loans in special servicing increased again in February, by 1.74 percent to $42.42 billion, according to Trepp Inc. That amounts to 7.14 percent of the $594.04 billion universe the company tracks, up from 6.95 percent in...
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