Todd Schuster, 54, has resigned as president and CEO of Chicago-based ARES Commercial Real Estate Corporation (ACRE).

New York Life Investment Management reportedly led a group of lenders to provide $507m in first mortgage financing for the refinancing of the 40-story 11 Times Square building, a 1.1m sq ft office and retail tower in Midtown Manhattan.

BMO Capital Markets, the investment banking arm of Bank of Montreal, has led a $200m syndicated financing for New Jersey-based Monmouth Real Estate Investment Corporation (MNR), a real estate investment trust.

Maryland-based multifamily and affordable housing lender Pillar, an affiliate of Guggenheim Partners, has provided Los Angeles-based Brius Management Company with $36m in HUD loans to refinance a portfolio of five senior housing facilities with 403 beds in California.

Deutsche Bank has provided at least $45m in loans to New York-based Madison Realty Capital (MRC) for the acquisition of the Brooklyn Whale Building, former headquarters of the Whale Oil Company, Real Estate Capital has learned.

JP Morgan Chase Bank has provided $105m in first mortgage loans to refinance and take out the previous securitized debt on two Manhattan office properties. A $68m loan to New York-based ABS Partners takes out a previous CMBS loan, part of JPMCC 2005-CIBC13, that refinanced 270 Madison Avenue in September 2005. A $37m loan to Newmark and […]

Los Angeles-based Mesa West Capital and Boston-based AEW Capital Management provided $145m in loans to JBG Companies for the refinancing of a two-hotel portfolio in Arlington, Virginia. Mesa West provided a three-year, non-recourse, floating rate, interest-only loan with extension options, carrying a loan-to-value ratio of about 75 percent. AEW originated the mezzanine piece. The properties have performed well “despite being delivered […]

CBRE has arranged a $42m Freddie Mac loan to refinance the Madison Belmont, a 198-unit garden-style apartment complex owned by California-based Prime Group. The 10-year permanent financing loan takes out a previous $23m Fannie Mae loan secured in November 2009. The Prime Group acquired the property in October 2009 for about $29m. “Our client was […]

Walker & Dunlop has brought in Jeffrey Taschler as COO and senior vice president of its CMBS lending business, originating structured finance products for clients across the US from the firm’s New York office.

J.P. Morgan and Fisher Brothers have provided $150m in bridge financing to a joint venture for the acquisition of a development site at 520 Fifth Avenue in Manhattan, to be developed into a residential condominium tower.