Natixis is the lender behind a $65 Million of first mortgage financing to San Carlos Associates for the refinancing Marriott Monterey Hotel in Monterey, California, Real Estate Capital has learned.
Northwestern Mutual has provided $563.5 million to TIAA for the refinancing of three office properties in Boston, Massachusetts, Washington, DC, and Miami, Florida.
Square Mile Capital Management has originated a $60.8 million whole loan on the Brickell City Tower in the Brickell submarket of Miami, Florida, Real Estate Capital has learned.
Canadian Imperial Bank of Commerce (CIBC) has provided a $55.1 million floating rate loan to Pearlmark for the refinancing of the The Ritz-Carlton, Denver in Colorado.
Pembrook Capital Management has raised $100 million for the first close of its third commercial real estate debt fund, PCI Investors Fund III, Real Estate Capital has learned.
Morgan Stanley and Blackstone have provided a $335 million acquisition loan to HNA Capital and MHP Real Estate Services for the acquisition of 850 Third Avenue in midtown Manhattan.
Fitch Ratings expects US CMBS loan defaults to increase in 2016 after five straight years of declines.
America’s oldest industry offers stable returns for dilligent underwriters, reports Al Barbarino.
Following a more than 100 basis point (bps) plunge in January and February combined, the US CMBS delinquency rate jumped up 7 bps to 4.22 percent in March, according to Trepp.
The CMBS industry is watching intently as spreads finally tighten, but rating agencies aren’t yet convinced that any sustained improvement lies ahead.