Al Barbarino
Hong Kong’s Gaw Capital Partners will "likely" seek to refinance $300m of debt on Seattle, Washington’s tallest building, the Columbia Center, after agreeing to pay a reported $725m for the property, Real Estate Capital has learned.
The property is encumbered by a $300m A note and an $80m B note, the latter of which is expected to be paid off once the sale closes.
MassMutual Financial Group affiliate Cornerstone Real Estate Advisers will provide a $556m construction loan for a 47-story office tower set to rise in Midtown Manhattan at 425 Park Avenue, developers L&L Holding Company and GreenOak Real Estate announced this week.
Our panel of real estate lenders debate how long the US commercial real estate market will stay in its ‘sweet spot’ and how to wring out current and future opportunities. It is as sure as the sun setting that a commercial real estate cycle will end: the question is ‘when,’ not ‘if’. Put three commercial real estate experts in a room […]
Real Estate Capital profiles eight CMBS players competing to make their mark on the industry
As CMBS originators flood into the market, several metrics tracked by data and research firm Trepp suggest that CMBS underwriting standards are slipping – but not as much as they did during the last market peak.
Issuers of single-family rental securities defended their business models, despite the limited success of their IPOs, at the Keefe, Bruyette & Woods Mortgage Finance Conference in Midtown Manhattan this week.
The US CMBS delinquency rate dropped 17 basis points to 5.40% in May, the biggest drop since November 2014, according to Trepp.
The sharp drop came after the rate hovered within a 23 bps band, from 5.66% to 5.57%, from the start of the year through April.
Walker & Dunlop chairman and CEO Willy Walker today highlighted a few of his firm’s successes: among them, the firm has grown to become the #1 Fannie Mae Delegated Underwriting and Servicing (DUS) and #3 Freddie Mac Program Plus lender.
But Walker didn't shy away from the company’s shortcomings on the CMBS side, as Walker & Dunlop Commercial Property Funding, a joint venture with Fortress Investment Group, fell well short of a $1bn origination target during its first year of business in 2014.
Apollo Commercial Real Estate Finance (ARI) has deployed $127.9m in loans as the firm capitalizes on opportunities to both increase portfolio allocations for first mortgages while also teaming up with senior lenders to target its “bread and butter” mezzanine loans.
John Hancock has provided a $75m loan to The Swig Company to refinance 501 Second Street, a seven-story office property in San Francisco’s SOMA (South of Market Street) submarket.
HFF arranged the 10-year, fixed-rate loan on the 208,000 sq ft building.