RECENT NEWS
Countrywide Lends $140Mln for Posh Beverly Hills Hotel
Countrywide Commercial has provided $140 million of financing for the Peninsula Beverly Hills, among the poshest hotels in Southern California.The 194-room hotel, the only one in Southern California with a Five-Diamond rating from AAA and Five-Star rating from...
Triple Net Paid $21Mln for Georgia Apartments
Triple Net Properties paid $21 million for Century Hills, a 200-unit apartment complex in Augusta, Ga.As reported, the Santa Ana, Calif., firm purchased the property on behalf of tenant-in-common investors from Centennial Investment Properties of Atlanta. But at...
Financing Conditions Worsen in Multifamily Sector
Commercial Real Estate Direct Report In a spillover from the subprime mortgage crisis, financing conditions are worsening for multifamily property.A July survey of multifamily housing executives, conducted by the National Multi Housing Council, found that conditions have deteriorated...
Former EOP Exec Named President, COO of Lightstone
Peyton "Chip" Owen Jr., the former chief operating officer of Equity Office Properties Trust, has joined Lightstone Group as president and chief operating officer. Owen, a 23-year real estate veteran, had been with EOP for more than three...
House Committee Approves Terrorism Insurance Bill Extension
Commercial Real Estate Direct Staff ReportA Congressional committee has approved a bill extending the federal backstop for insurers of terrorism risk.The House Committee on Financial Services this week approved the Terrorism Insurance Revision and Extension Act, which would extend...
Trinity Pays $27Mln for Suburban Phila. Office Complex
Trinity Capital Advisors has paid roughly $27 million for 1041 Cassatt Road, a 131,000-square-foot office complex in the Philadelphia suburb of Berwyn, Pa.The Philadelphia real estate firm purchased the five-building property from Vertex Inc., which manufactures tax software,...
Triple Net Paid $21Mln for Georgia Apartments
Triple Net Properties paid $21 million for Century Hills, a 200-unit apartment complex in Augusta, Ga.As reported, the Santa Ana, Calif., firm purchased the property on behalf of tenant-in-common investors from Centennial Investment Properties of Atlanta. But at...
Sterling, Hines Venture Sells San Francisco Office Building for $247Mln
A venture between Sterling American Property and Hines has sold 405 Howard St. in San Francisco for $247 million, or $490/sf.The buyer is a venture between GE Real Estate and Ashforth Pacific Properties of Portland, Ore. The price...
Former EOP Exec Named President, COO of Lightstone
Peyton "Chip" Owen Jr., the former chief operating officer of Equity Office Properties Trust, has joined Lightstone Group as president and chief operating officer. Owen, a 23-year real estate veteran, had been with EOP for more than three...
Collateral Lends $217.3Mln of Freddie Debt for Seniors Housing
Collateral Real Estate Capital has provided $217.3 million of Freddie Mac financing for a portfolio of 21 seniors housing properties with 1,927 units.The financing is comprised of a number of loans, each with a 10-year term and one-year...
Financing Conditions Worsen in Multifamily Sector
Commercial Real Estate Direct Report In a spillover from the subprime mortgage crisis, financing conditions are worsening for multifamily property.A July survey of multifamily housing executives, conducted by the National Multi Housing Council, found that conditions have deteriorated...
House Committee Approves Terrorism Insurance Bill Extension
Commercial Real Estate Direct Staff ReportA Congressional committee has approved a bill extending the federal backstop for insurers of terrorism risk.The House Committee on Financial Services this week approved the Terrorism Insurance Revision and Extension Act, which would extend...
Trinity Pays $27Mln for Suburban Phila. Office Complex
Trinity Capital Advisors has paid roughly $27 million for 1041 Cassatt Road, a 131,000-square-foot office complex in the Philadelphia suburb of Berwyn, Pa.The Philadelphia real estate firm purchased the five-building property from Vertex Inc., which manufactures tax software,...
Sterling, Hines Venture Sells San Francisco Office Building for $247Mln
A venture between Sterling American Property and Hines has sold 405 Howard St. in San Francisco for $247 million, or $490/sf.The buyer is a venture between GE Real Estate and Ashforth Pacific Properties of Portland, Ore. The price...
Collateral Lends $217.3Mln of Freddie Debt for Seniors Housing
Collateral Real Estate Capital has provided $217.3 million of Freddie Mac financing for a portfolio of 21 seniors housing properties with 1,927 units.The financing is comprised of a number of loans, each with a 10-year term and one-year...
American Realty Advisors Pays $38.5Mln for Maryland Retail Property
American Realty Advisors has paid $38.5 million for the Waldorf Marketplace II, a 153,357-square-foot retail center in Waldorf, Md.The Glendale, Calif., real estate firm purchased the property from Faison Enterprises of Charlotte, N.C. Faison developed the property, which...
Pru, Dow Buy Suburban Chicago Hotel
A joint venture between Prudential Real Estate Investors and the Dow Hotel Co. has purchased the Doubletree Hotel Chicago-O'Hare, a 369-room hotel in Rosemont, Ill. The venture purchased the property from an affiliate of Lowe Enterprises, which acquired...
UBS Lends $56.5Mln for Md. Retail Center
UBS has provided $56.5 million of financing for Westview Center, a 605,711-square-foot retail property in Catonsville, Md., just outside of Baltimore.The financing has a 10-year term and requires interest payments only for its entire term. It was arranged...
FINAL PRICING: $4.1Bln Merrill Lynch Mortgage Trust, 2007-C1
ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchFinalPricing (bp)BnchmarkA-157.0430.002.92AAAAAA+16swapsA-1A1,296.7330.008.85AAAAAANAswapsA-2298.9230.004.82AAAAAA+45swapsA-2FL200.0030.004.82AAAAAA+31LiborA-3322.2230.007.01AAAAAA+57swapsA-3FL130.0030.007.01AAAAAA+47LiborA-SB90.3430.007.44AAAAAA+62swapsA-4442.2130.009.78AAAAAA+57swapsA-M405.0220.009.87AAAAAA+63swapsA-J134.1411.759.91AAAAAA+74swapsA-JFL200.0011.759.91AAAAAA+66LiborB86.079.6259.91AAAA+90swapsC40.508.6259.91AA-AA-+100swapsD45.577.509.91AA+115swapsE45.576.3759.97A-A-+135swapsF50.635.1259.99BBB+BBB++230swapsG40.504.1259.99BBBBBB+250swapsH40.503.12510.01BBB-BBB-NAswapsJ15.292.7510.16BB+BB+NATreasK15.292.37510.93BBBBNATreasL10.192.12510.93BB-BB-NATreasM10.191.87510.93B+B+NATreasN10.191.62510.93BBNATreasP5.101.5010.93B-B-NATreasQ61.160.0011.36NRNRNATreasX4,050.25*NANAAAAAAANATreas*Notional amount, interest onlyCollateral balance: $4,050.25 millionBookrunner(s): Merrill LynchLead Managers: Merrill LynchCo-managers: Goldman Sachs, Morgan StanleyB-piece Buyer: Centerline REITMaster Servicer: KeyCorp Real Estate Capital Markets; Wells FargoSpecial Servicer: Centerline ServicingTrustee: US BankOriginators: Merrill Lynch (43.9...
American Realty Advisors Pays $38.5Mln for Maryland Retail Property
American Realty Advisors has paid $38.5 million for the Waldorf Marketplace II, a 153,357-square-foot retail center in Waldorf, Md.The Glendale, Calif., real estate firm purchased the property from Faison Enterprises of Charlotte, N.C. Faison developed the property, which...
UBS Lends $56.5Mln for Md. Retail Center
UBS has provided $56.5 million of financing for Westview Center, a 605,711-square-foot retail property in Catonsville, Md., just outside of Baltimore.The financing has a 10-year term and requires interest payments only for its entire term. It was arranged...
Pru, Dow Buy Suburban Chicago Hotel
A joint venture between Prudential Real Estate Investors and the Dow Hotel Co. has purchased the Doubletree Hotel Chicago-O'Hare, a 369-room hotel in Rosemont, Ill. The venture purchased the property from an affiliate of Lowe Enterprises, which acquired...
FINAL PRICING: $4.1Bln Merrill Lynch Mortgage Trust, 2007-C1
ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchFinalPricing (bp)BnchmarkA-157.0430.002.92AAAAAA+16swapsA-1A1,296.7330.008.85AAAAAANAswapsA-2298.9230.004.82AAAAAA+45swapsA-2FL200.0030.004.82AAAAAA+31LiborA-3322.2230.007.01AAAAAA+57swapsA-3FL130.0030.007.01AAAAAA+47LiborA-SB90.3430.007.44AAAAAA+62swapsA-4442.2130.009.78AAAAAA+57swapsA-M405.0220.009.87AAAAAA+63swapsA-J134.1411.759.91AAAAAA+74swapsA-JFL200.0011.759.91AAAAAA+66LiborB86.079.6259.91AAAA+90swapsC40.508.6259.91AA-AA-+100swapsD45.577.509.91AA+115swapsE45.576.3759.97A-A-+135swapsF50.635.1259.99BBB+BBB++230swapsG40.504.1259.99BBBBBB+250swapsH40.503.12510.01BBB-BBB-NAswapsJ15.292.7510.16BB+BB+NATreasK15.292.37510.93BBBBNATreasL10.192.12510.93BB-BB-NATreasM10.191.87510.93B+B+NATreasN10.191.62510.93BBNATreasP5.101.5010.93B-B-NATreasQ61.160.0011.36NRNRNATreasX4,050.25*NANAAAAAAANATreas*Notional amount, interest onlyCollateral balance: $4,050.25 millionBookrunner(s): Merrill LynchLead Managers: Merrill LynchCo-managers: Goldman Sachs, Morgan StanleyB-piece Buyer: Centerline REITMaster Servicer: KeyCorp Real Estate Capital Markets; Wells FargoSpecial Servicer: Centerline ServicingTrustee: US BankOriginators: Merrill Lynch (43.9...
Andrea Ascher Joins Proskauer
Andrea Ascher has joined Proskauer Rose as partner in its New York office and will focus on domestic and global real estate finance and construction lending. Ascher joins the law firm from Cadwalader, Wickersham & Taft. She also...
Apollo Paid $40Mln for San Francisco Office
Apollo Real Estate Advisors is said to have paid just under $40 million for 444 De Haro, a 140,178-square-foot office building in San Francisco.As reported, Apollo's Value Enhancement Fund VI purchased the property from a venture between Divco...
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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.
