BizTimes Hager Pacific Properties has paid $35 million for a four-property industrial portfolio that included the Brown Deer Business Park, an eight-building flex-industrial complex in the Milwaukee suburb of Brown Deer, Wis. The three other properties are in California. One ...
Commercial Real Estate Direct Staff Report A group of insurance companies led by American Home Assurance Co. has provided $92.5 million of financing against Orange Plaza, a 765,390-square-foot retail property in Middletown, N.Y., some 75 miles north of Manhattan. The ...
Pennsylvania REIT has refinanced the $140.5 million CMBS loan against the Woodland Mall in Grand Rapids, Mich., and increased to $57 million a loan it has against the Viewmont Mall near Scranton, Pa. The Philadelphia REIT turned to US Bank ...
Metropolitan Life Insurance Co. has provided $254.6 million of mortgage financing against 1675 Broadway, a 761,092-square-foot office property in midtown Manhattan. The loan was used to retire $170.9 million of debt, including a $146.9 million senior mortgage that was securitized ...
New York Post Publicis Groupe has renewed its lease at 1675 Broadway in midtown Manhattan and expanded its presence at the 751,846-sf office building to 580,000 sf from 480,000 sf. The advertising agency's lease expires in 2031. The 35-story property ...
Standard & Poor's has placed nine classes of Bear Stearns Commercial Mortgage Securities Trust, 2006-PWR12, on credit watch negative because two loans with a balance of $55.7 million were recently transferred to special servicing.One loan, with a balance of $43.5 ...
Standard & Poor's has downgraded two classes of Bear Stearns Commercial Mortgage Securities Trust, 2006-PWR12, because of credit concerns it has with seven loans with a balance of $26.3 million that have debt service coverage levels of less than 1.0x.The ...
By Jeff Mordock, Commercial Real Estate Direct Staff Writer A venture between Investcorp and Welsh Cos. is offering for sale the Southdale Office Centre, a 450,000-square-foot complex in the Minneapolis suburb of Edina, Minn. The venture has struggled to keep ...
ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingMoody'sFinalPricing (bp)BnchmarkA-168.130.002.99AAAAaa+5swapsA-249.030.004.83AAAAaa+15swapsA-3150.530.006.60AAAAaa+26swapsA-AB119.830.007.32AAAAaa+24swapsA-4873.330.009.75AAAAaa+25swapsA-1A194.730.008.84AAAAaaNAswapsA-M207.920.009.89AAAAaa+29swapsA-J161.112.259.94AAAAaa+31swapsB44.210.1259.94AAAa2+33swapsC18.29.259.97AA-Aa3+35swapsD33.87.6259.97AA2+41swapsE20.86.6259.97A-A3+49swapsF26.05.3759.97BBB+Baa1+68swapsG20.84.3759.97BBBBaa2+75swapsH26.03.1259.97BBB-Baa3+105swapsJ7.802.759.97BB+Ba1NAswapsK7.802.3759.97BBBa2NAswapsL7.802.009.97BB-Ba3NAswapsM5.201.759.97B+B1NAswapsN5.201.509.97BB2NAswapsO5.201.259.97B-B3NAswapsP26.000.0010.04NRNRNAswapsX*2,079.03NA9.02AAAAaaNATreas*Notional amount, interest onlyCollateral balance: $2,079.03 millionBookrunner(s): Bear Stearns, Morgan StanleyLead Managers: Bear Stearns, Morgan StanleyB-piece Buyer: ARCapMaster Servicer: Wells FargoSpecial Servicer: ARCap Trustee: LaSalle BankOriginators: Bear Stearns (20.3 percent), Prudential (38.5 percent), Principal Financial (15.9 percent), ...
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