Commercial Real Estate Direct Staff Report The 920,059-square-foot office building at 1111 Marcus Ave. in New Hyde Park, N.Y., was appraised recently at a value of $119.5 million. That's far from the $188.6 million value it was appraised at in ...
The $80 million securitized piece of a $134 million loan package against 1111 Marcus Ave., a 920,059-square-foot office building in New Hyde Park, N.Y., has been transferred once again to special servicing because it's expected to default. The securitized loan ...
RLJ Development has acquired the 755-room Doubletree Metropolitan Hotel in Manhattan for $335 million from a venture of Goldman Sachs' Whitehall Real Estate Funds, Highgate Holdings and Rockwood Capital, according to the Wall Street Journal. The hotel, at 569 Lexington ...
Goldman Sachs' Whitehall Street Real Estate Funds group is marketing for sale two more Manhattan hotels, according to Crain's New York Business.At least one of the properties faces a near-term maturity of its $250 million of debt.The two hotels are ...
Fitch Ratings has placed the $29.3 million class L of JPMorgan Chase Commercial Mortgage Securities Corp., 2006-FL2, on rating watch negative because of a maturity risk with a $16.3 million loan that is backed by four hotels with 308 rooms ...
ClassAmt$mlnSubLevel%AvgLife (yrs)*RatingFitchRatingMoody'sFinalPricing (bp)BnchmarkA-1820.0645.001.21AAAAaa+9LiborA-2298.2025.001.98AAAAaa+13LiborB50.3221.6251.78AA+Aa1+17LiborC42.8718.751.78AAAa2+21LiborD29.8216.751.78AA-Aa3+23LiborE33.5514.501.78A+A1+28LiborF33.5512.251.78AA2+33LiborG29.8210.251.78A-A3+36LiborH37.287.752.05BBB+Baa1+50LiborJ37.285.252.24BBBBaa2+65LiborK33.553.002.24BBB-Baa3+125LiborL44.730.002.24BBB-Ba1+230Libor*Assumes no extensionCollateral balance: $1,533.02 millionBookrunner(s): JPMorgan SecuritiesLead Managers: JPMorgan SecuritiesCo-managers: Citigroup, Commerzbank, SG Americas SecuritiesMaster Servicer: Wachovia BankSpecial Servicer: LNR PartnersTrustee: Wells Fargo BankOriginators: JPMorgan Chase (85.5 percent), Societe Generale (9.5 percent), Eurohypo (5 percent)Number of ...
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.
