Commercial Real Estate Direct Staff Report Barry Sternlicht, co-founder and chairman of Starwood Capital Group, said mark-to-market rules, which have a cascading affect on asset values, ought to be suspended. In an interview on CNBC's Squawk Box program yesterday, he ...
Commercial Real Estate Direct Staff Report Pebblebrook Hotel Trust expects to suspend operations at all 54 of its properties by March 30 as part of a plan to save cash in the face of the coronavirus outbreak. The Bethesda, Md., ...
Commercial Real Estate Direct Staff Report Pennsylvania REIT is in discussions with lenders to modify terms of the company's credit facilities because it is at risk of not complying with certain debt covenants. Joseph Coradino, PREIT's chief executive, told analysts ...
WPT Industrial REIT has acquired 13 buildings with 2.2 million sf in five states for $226 million, or about $102/sf. The deal is the largest for the Toronto REIT, which was spun off from Welsh Property Trust six years ago. ...
Hersha Hospitality Trust has lined up a $475 million credit facility that consists of a $250 million unsecured revolving line of credit and a $225 million unsecured term loan. The loan facility includes an accordion feature that allows it grow ...
Behringer Harvard Opportunity REIT I and II are well into their property disposition phases. They've replaced their manager and sponsor, the former Behringer, with Lightstone Group. One has adopted a formal liquidation plan, while the other is moving forward with ...
Forest City Realty Trust Inc. has launched a strategic review that might result in it selling most of its retail exposure, which is comprised of 14 regional malls around the country and 19 specialty retail centers in New York. The ...
New York REIT Inc. and JBG Cos. have terminated an agreement reached earlier this year to merge. In May, the REIT stuck a deal to buy JBG, of Chevy Chase, Md., in a stock transaction that would have valued the ...
McMorgan & Co. has lined up a $100 million credit facility from PNC Bank that it will use to help fund acquisitions. The San Francisco investment manager, a unit of New York Life Investment Management Holdings, used the four-year facility, ...
Oak Grove Capital has originated a $437.8 million Fannie Mae credit facility for Brookdale Senior Living Inc. The financing has a seven-year term, with 75 percent of its balance carrying a fixed rate of 4.25 percent and the remainder a ...
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© 2023 Commercial Real Estate Direct All rights reserved..