SL Green to Sell Palisades, N.Y., Event Space for $26.25Mln
April 24, 2024
Houston’s 777 Post Oak Blvd. Office Gets New Owner
April 24, 2024
City: New Orleans
TPG Lends $51Mln Against New Orleans Hotel
Commercial Real Estate Direct Staff Report TPG Real Estate Finance Trust has provided a $51 million loan against the Ace Hotel New Orleans, a 234-room property that opened in 2016. The floating-rate loan, arranged by HFF, was used to retire ...
Mall of Acadiana Sees Appraised Value Plunge to $47.6Mln
Commercial Real Estate Direct Staff Report The Mall of Acadiana, whose CMBS loan is in the process of being modified, has been re-appraised at a value of only $47.6 million. That compares with the property's $188 million appraised value ...
CBL Strikes Re-Do of CMBS Loan on Acadiana Mall
The following story has been edited. A previous version incorrectly indicated two additional anchors might be vacating. CBL & Associates said it "expects both stores to continue to operate as normal." Commercial Real Estate Direct Staff Report CBL & ...
2 New Orleans-Area Holiday Inn Hotels Offered for Sale
Commercial Real Estate Direct Staff Report Two Holiday Inn hotels with a total of 386 rooms in the New Orleans area are being offered for sale. The properties are the 181-room Holiday Inn New Orleans West Bank Tower, at 275 ...
Simon Sells 3 Retail Properties; Deal Valued at $200Mln
New Orleans Times-Picayune Simon Property Group has sold a portfolio of three malls that include The Esplanade, with 897,106 square feet of retail space in Kenner, La. The deal for portfolio is valued at $200 million. The other properties in ...
Hertz Refinances CMBS Debt Against New Orleans’ 909 Poydras
Commercial Real Estate Direct Staff Report Hertz Investment Group has lined up $50 million of financing against its 909 Poydras office building in downtown New Orleans. The Los Angeles investor has owned the 545,157-square-foot property since 2005, when it bought ...
Square Mile Provides $40Mln of Mezz Financing Against New Orleans Hotel
Square Mile Capital Management has provided $40 million of mezzanine financing against the 1,193-room Hyatt Regency Hotel in New Orleans. Its loan, which has a five-year term, is subordinate to $250 million of senior financing provided by a group ...
New Orleans Shopping Center Gets $27.7Mln of Debt
Dallas CityBizList N3 Real Estate has obtained $27.7 million of financing against the 236,389-square-foot Algiers Plaza shopping center in New Orleans. BBVA Compass provided the floating-rate debt, proceeds of which will be used to cover a renovation that recently was ...
Queen & Crescent Hotel
Two years ago, the seller had acquired the property from LB-UBS Commercial Mortgage Trust, 2005-C3, which previously held a $10.9 million mortgage against it and had foreclosed against it in 2012. At the time, the property was operating at a ...
KBS REIT to Pay $51.2Mln for New Orleans Hotel
A venture led by KBS Strategic Opportunity REIT II Inc. has agreed to pay $51.2 million, or $261,224/room, for the Queen & Crescent Hotel in downtown New Orleans, near the city's French Quarter. KBS Strategic, a non-traded REIT sponsored by ...
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Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
