SL Green Realty Corp. has completed the recapitalization of 3 Columbus Circle, a 768,565-square-foot office building at 1775 Broadway in midtown Manhattan. The New York REIT made a $138 million equity investment in the property, which is owned by Moinian ...
The Irvine Co. said it has acquired Hyatt Center, a 1.5 million-square-foot office property in Chicago from Pritzker Realty Group, confirming a report last week in Crain's Chicago Business.The California company did not say how much it paid, but Crain's ...
Commercial Real Estate Direct Staff ReportA total of 14,042 CMBS loans with a balance of $166.6 billion, or 19.4 percent of the entire CMBS universe are on master servicer's watchlists, according to Bloomberg.That's up from early this year, when $156.9 ...
New York PostMoinian Group has asked SL Green Realty Corp. to help pay off a $248.2 million mortgage against an office property at 1775 Broadway in Manhattan.Deutsche Bank sued to foreclose on the debt, which is securitized through Wachovia Bank ...
Crain's Chicago BusinessThe Pritzker family is offering for sale the 1.5 million-square-foot Hyatt Center in Chicago. The family is hoping to fetch more than $575 million for the 49-story property, at 71 S. Wacker Drive. Hyatt Center, which was built ...
Expected losses from loans in special servicing have prompted Moody's Investors Service to place on review for possible downgrade 17 classes of Wachovia Bank Commercial Mortgage Trust, 2006-C23.A total of 15 loans with a balance of $410 million are with ...
Commercial Real Estate Direct Staff ReportColony Financial Inc. said its $15 million investment in the debt on 666 Fifth Ave., a 1.4 million-square-foot office building in Manhattan, would generate a 9.5 percent cash yield.The Los Angeles REIT had partnered with ...
Commercial Real Estate Direct Staff ReportThe volume of securitized loans in the hands of special servicers now totals $78.2 billion, or 11.2 percent of the entire CMBS universe, according to Realpoint.That's after another $2.8 billion of loans were transferred last ...
By John Covaleski, Commercial Real Estate Direct Staff WriterAfter struggling to retain enough tenants to generate the income needed to pay down its loan, the former Newsweek Building at 1775 Broadway in Manhattan fell under water when the debt started ...
Crain'sNew York BusinessAventure that includes New York developer Yair Levy has defaulted on $265million of debt on 620 Sixth Ave., a 700,000-square-foot office and retailbuilding in Manhattan.Theproperty's $205 million of senior debt was securitized via Wachovia BankCommercial Mortgage Trust, 2006-C23. ...
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