Top News

The long-expected half-point increase in the Federal funds rate is likely to make a slow year for CMBS even slower, bankers and analysts said today.

Prudential Insurance is also expected to put up $500 million in debt to help finance Heritage Property Investment's $1.2 billion purchase of Bradley Real Estate.

Merrill Lynch has launched a $258 million conduit transaction backed by Canadian mortgages. It's the third such deal by the underwriter.

Heritage Property Investment Trust, a private REIT in Boston, has offered to take Bradley Real Estate private for $22/share. Heritage counts Prudential Insurance among its investors.

Heritage Property Investment Trust, a private REIT in Boston, has offered to take Bradley Real Estate private for $22/share. Heritage counts Prudential Insurance among its investors.

Shurgard Storage Centers is poised to form another joint venture to develop self-storage centers. This time, it will have the wherewithal to develop $160 million of U.S. properties.

Wisconsin Energy has hired Eastdil Realty to market 80 percent of the properties owned by its development arm. The unit, Wispark, has been developing office and industrial properties in the rust belt for more than a decade.

Prudential will soon be able to offer borrowers Fannie Mae, FHA, conduit, mezzanine and bridge loans, thanks to its pending purchase of WMF Group. The acquisition will also give it the capability to become a player in the servicing arena.

The two former commercial mortgage professionals are joining the Internet revolution. But they won't be involved in real estate any more. They have formed a series of cardiology-related sites.

Prudential Mortgage Capital is buying WMF Group in a deal valuing the mortgage company at $138 million, or $8.90/share.