Al Barbarino
Brookfield Asset Management has provided a $158m loan to The Koll Company for the refinancing of the Airport Business Center, an office industrial park in Irvine, California. The five-year, fixed-rate, interest-only loan carries an interest rate in the low 5% range, according to CBRE’s Capital Markets Debt & Structured Finance team, which arranged the deal. […]
The developers of the newly-crowned tallest residential tower in the western hemisphere at 432 Park Avenue have drawn an additional $50m in financing from an affiliate of The Children’s Investment Fund. Harry Macklowe of Macklowe Properties and Los Angeles-based CIM Group have now called upon $160m of the total $400m that Talos Capital Limited agreed […]
Cornerstone Real Estate Advisers has arranged a $56.5m loan to support the future of the new Residence Inn Boston – Back Bay Fenway [Park] in Boston, Massachusetts. The 10-year fixed rate loan to Boylston Properties backs the 175-key, extended stay hotel at 125 Brookline Avenue, which the firm completed and opened last summer. Boston-based Group One Partners […]
Wells Fargo has provided an $80m loan that upsizes and extends an existing floating rate mortgage loan at Brookfield Office Properties’ 200 Vesey Street in Lower Manhattan. The original loan, provided to Brookfield on the last day of December 2010, was for $150m, bringing the aggregate loan size to $230m. The property is part of the […]
Deutsche Bank Trust Company Americas has provided a $460m loan to a joint venture led by Macklowe Properties for its acquisition of 1 Wall Street in Lower Manhattan. Macklowe Properties bought the 1.1 million sq ft skyscraper from Bank of New York Mellon for $585m. BNY Mellon stated its intentions to sell the property in April, […]
M&T Bank has provided Corigin Real Estate with $147m in mortgage financing for the development of a residential condominium project on the Upper East Side of Manhattan. The 17-story building at 20 East End Avenue will feature 43 luxury condos designed by Robert A. M. Stern Architects, the same firm behind the renown 15 Central […]
Aareal Capital Corporation has provided San Francisco-based The Swig Company and New York City-based Himmel + Meringoff Properties with $134.2m in financing for the redevelopment of 1460 Broadway in Times Square. The lender, a subsidiary of Wiesbaden, Germany-based Aareal Bank Group, provided a five-year, floating-rate loan with two one-year extension options, Real Estate Capital has learned. Last […]
Developer lands $420m from Goldman/Dune
Blackstone provided a $56m first mortgage loan to Ivy Realty for the refinancing of One East Broward Boulevard, a 343,551 sq ft, Class A office tower in Fort Lauderdale, Florida. It is a three-year, floating rate, interest-only, non-recourse bridge loan with two one-year options. Connecticut-based Ivy Realty paid a reported $42m for a majority stake […]
Under Michael Nash, Blackstone Real Estate Debt Strategies has grown to become a $9bn lender.