As fewer US CMBS loans are resolved due to major declines of inventory in special servicing, the proportion of loans resolved with losses has also hit a six-year low, according to a new report from Fitch Ratings.
Voya Investment Management has provided $70 million in financing to The Swig Company to refinance the Mills Building offices in San Francisco, located at 220 Montgomery Street.
ABA survey: a majority of banks (82 percent) plan to increase CRE capital concentrations.
The closing of sporting goods retailer Sport Chalet will impact 10 CMBS deals, according to an analysis from Trepp. The retailer’s parent company, Vestis Retail Group, announced it has filed for Chapter 11 bankruptcy protection.
JLL’s Capital Markets team announced this week that it arranged a $97 million refinancing the Crown Retail Portfolio, a seven property portfolio with in Brooklyn and Queens. Goldman Sachs provided the loan to Crown Acquisitions.
US CMBS 2.0 loans entering special servicing have increased year-over-year and now comprise a larger proportion of overall loans in special servicing, according to Fitch Ratings.
Mesa West Capital has provided $43.5 million in financing to refinance six retail condominiums at 201 Newbury Street in Boston, Massachusetts.
The Washington Square Mall in Indianapolis, Indiana, which has been resolved with heavy losses, according to April remittance data flagged by Trepp.
Northwestern Mutual Real Estate has provided $170 million in financing for the newly-completed 70 Columbus, a 545-unit, Class A apartment tower in Jersey City, New Jersey.
Metlife has provided a $50 million loan on a retail unit at 1 Irving Place, also known as the Zeckendorf Towers, Real Estate Capital has learned. The loan consolidates existing debt from MetLife with a new $29.8 million bridge loan. MetLife declined to comment on the financing.