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Citibank has provided $225 million of floating-rate financing against the 803-room Westin Copley Place hotel in Boston. The three-year loan pays a rate pegged to Libor plus 175-200 basis points. The specific spread is determined by the cash flow the ...
A $113.7 million securitized loan against a portfolio of 10 office buildings with 796,507 square feet has been moved to special servicing because it's expected to default. The loan is the third largest in the collateral pool of Bear Stearns ...
Commercial Real Estate Direct Staff Report Excel Trust has agreed to pay $110 million for the Promenade, a 433,000-square-foot shopping center in Scottsdale, Ariz. The San Diego REIT, founded by Gary Sabin, who in 1978 formed Excel Realty Trust, which ...
TIAA-CREF has agreed to acquire a stake in four shopping malls owned by CBL & Associates Properties Inc., and has created a venture with the REIT that will invest in market-dominant malls. TIAA, a New York investment manager, is buying ...
Commercial Real Estate Direct Staff ReportSunstone Hotel Investors Inc. has paid $24.8 million for the Renaissance Westchester, a 347-room hotel in White Plains, N.Y., that just months ago it had offered to give back to its lender. The property had ...
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