A Mack Real Estate Credit Strategies (MRECS) affiliate has provided a $165 million loan for the refinancing of the Greensboro Station office complex, 640,000 sq ft, three-building property in Tysons Corner, Virginia, Real Estate Capital has learned.
United Overseas Bank Limited, New York Agency has provided $220 million in financing for the conversion of the upper floors of the iconic Woolworth Building in Manhattan, according to Reed Smith, the law firm representing the lender.
The floating rate, LIBOR-based financing, which includes a senior mortgage and mezzanine loan, will allow developer DLC Residential to convert the 13-story tower in the Chicago Loop neighborhood -- at 29 South LaSalle -- into 216 apartments and add an additional floor for tenant amenities.
This year could mark the first year since the advent of commercial mortgage-backed securities that insurance company lenders take the upper hand in originations volume, delegates heard at the annual CREFC conference in Manhattan this week.
A panelist at the CREFC conference in Manhattan this week noted that he had recently visited a retail store to get a feel for a certain cooking pan, only to order it on Amazon.com on his way out the door.
After a dismal -- if not abysmal -- first quarter, where CMBS all but ground to a halt, the industry has some momentum as spreads have tightened and deal flow begins to pick up, delegates heard at the kickoff of the CRE Finance Council’s annual conference today in Manhattan.
Blue Rock Partners secured a $56.5 million loan from Grandbridge Real Estate Capital for the $70 million acquisition of the former River Chase, a 78-building, 776-unit apartment complex in Tampa, Florida.
The credit quality of the conduit CMBS deals rated by Kroll Bond Ratings Agency (KBRA) so far this year has been superior to that of non-KBRA deals, according to new report from the ratings agency.
The banks haven’t exactly ‘pulled back’ from commercial real estate lending, but they have shifted focus. And that’s not a bad thing… “The banks are pulling back due to regulations” seems to have become part of the accepted CRE finance lexicon. The only problem is that, on the whole, based on facts and comments from […]
KBRA said deal flow is picking up, while conduit loan-to-values declined and spreads tightened through May.