Al Barbarino
Drew Abernethy, a principal and head of Pricoa Mortgage Capital’s (PMCC) European originations team, is relocating to the US from the firm’s London offices, Real Estate Capital has learned.
Guggenheim Commercial Real Estate Finance has provided a $99m loan to Pure Industrial Real Estate Trust (PIRET) for an eight-property industrial portfolio in five US states.
Bank of the Ozarks and Cornerstone Real Estate Advisers have provided $160m in combined financing for the development of a 755-room, dual-branded W + Element hotel development in Center City Philadelphia, Pennsylvania: a $100m senior loan and a $60m mezzanine loan, respectively.
After providing one of the largest construction loans of the month, a $556m loan for a 47-story office tower set to rise in New York City, Cornerstone Real Estate Advisers has provided $225m for new developments in two other US cities.
New York Life Real Estate Investors has provided a $31m loan to refinance Dadeland Centre I, a 130,000 sq ft office property in Miami, Florida.
After completing the lease up of the now-iconic speculative office building at 51 Astor Place in Manhattan’s East Village, New York developer Edward Minskoff has successfully refinanced the property, according to reports.
Just two months after real estate crowdfunding platform Realty Mogul launched a commercial lending division, the online marketplace has reportedly raised $250m of capital for commercial real estate debt investments.
Total commercial/multifamily debt outstanding in the US reached an all-time high of $2.68tr at the end of the first quarter, according to the Mortgage Bankers Association. Outstanding debt increased in Q1 by a combined $40.4bn across the four major investor groups: bank and thrift; CMBS, CDO and other ABS; federal agency, GSE portfolios and MBS; and […]
Morgan Stanley and Deutsche Bank are behind the $205m loan provided to provided Vornado Realty Trust for the $355m acquisition of an Old Navy-anchored retail property next to Penn Station in Midtown Manhattan, Real Estate Capital has learned.
CBRE secured a $410m Freddie Mac loan for the Northstar Asset Management Group’s $640m purchase of The Fountains Portfolio, a 15-community national senior housing portfolio located across US states.