TIAA (formerly TIAA-CREF) has provided a $320 million acquisition loan on the 1.3 million sq ft Country Club Plaza mixed-use development in Kansas City, Missouri, Real Estate Capital has learned.
The developers have secured a $225 million permanent loan to finance the renovation of The Bloc, a 1.8 million sq ft mixed-use property in downtown Los Angeles, California.
ACORE Capital has provided a $36.7 million loan on a multifamily asset in Austin, Texas, Real Estate Capital has learned. The lending platform focusing on bridge loans on transitional assets provided the floating rate, five-year loan to local borrower F&B Capital on the 344-unit Mission Hills Apartments complex at 2900 Sunridge Drive.
Northwestern Mutual has provided a $184 million mortgage on a 677,677 sq ft office tower in Miami, Florida.
Landesbank Baden-Wurttemberg (LBBW) has provided a $170 million mortgage on six shopping malls in Southern Florida and Atlanta, Georgia.
Columbia Property Trust has sold its 653,000 sq ft office property in Baltimore, Maryland and will use the proceeds to repay a $119 million short-term bridge loan and borrowings on its unsecured credit facility.
Maturing online platforms are beginning to prove themselves in the debt markets as the SEC lets them tap investors that were formerly off-limits, reports Justin Slaughter.
Societe Generale and Cantor Commercial Real Estate (CCRE) have provided a $210 million refinancing on the Ritz-Carlton South Beach hotel in Miami, Florida. The two lenders provided the funding to Lionstone Group of Miami and Flag Luxury Properties of New York, joint owners and developers of the oceanfront hotel.
First Republic Bank has provided a $47.5 million loan on the 105,000 sq ft Marquand residential condominium in the pricey Upper East Side neighborhood of Manhattan. The bank provided the loan to HFZ Capital Group on the 12-story condo at 11 East 68th Street at Madison Avenue.
Five commercial lenders have joined the Mechanics Bank as part of the Bay Area-based expansion of its Real Estate Industries Group capabilities. Walter Aozasa joins as a senior relationship manager, and Stephen Cairns, Chris Duffek, and Tom Mitchell will serve as vice presidents and relationship managers. George McCullagh becomes senior vice president and commercial banking regional manager.