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TPG Real Estate Finance Trust, which at the end of 2022 carried $1.24 billion of loans that were classified with its 4 or 5 risk ratings, meaning they were distressed in one way or another, has reduced that volume to...
The loan was one of a number against regional malls to have transferred to special servicers in recent weeks. Some loans have or soon will mature, while others have seen a deterioration in the performance of their collateral.
Spear Street Capital has acquired a stake in the Mills Building, a recently renovated and expanded office property that's one block from the White House in Washington, D.C. The building's recapitalization, which also involved a $123.27 million mortgage, allowed for...
Palisade Group, formed recently by three former EQ Office executives, has partnered with Sabal Investment Holdings on its inaugural investment: the $47.5 million, or $213/sf, purchase of 1000 and 1100 Dexter Ave. North, with a total of 223,233 square feet...
The CMBS loan against the 665,592-square-foot Jericho Plaza office property in Jericho, N.Y., has reached its initial maturity. Its term can be extended by up to three additional one-year terms, but for any of those options to be exercised, the...
Ladder Capital Corp. last year originated a mere $24 million of mortgages and had received $727 million in repayments. That resulted in a reduction in the size of its loan portfolio by nearly 20 percent, to $3.16 billion from $3.89...
Fitch Ratings has downgraded two classes of COMM, 2018-HOME, which holds a $120 million piece of the $550 million financing package against the 1,254-unit Gateway apartment property in San Francisco. The rating agency noted that cash flow at the four-building...
The transfer of two large CMBS office loans to special servicing last month propelled the total volume in special servicing to $41.69 billion - a level not seen since mid-2021, as the industry was starting its post-Covid lockdown recovery. One...
Highwoods Properties, which two years ago said it would exit the Pittsburgh market, where it owns two office properties totaling 2.16 million square feet, has put that plan on hold as market conditions aren't in its favor.
Berkadia last year had arranged 1,200 loans totaling $22 billion and completed more than 300 investment-sales transactions totaling $9 billion, for a total of $31 billion of transaction volume. That was down sharply from the $57 billion of total volume...
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© 2023 Commercial Real Estate Direct All rights reserved..