Mesa West Capital has provided Sterling Bay with $220m to refinance 1KFulton, a 10-story, 535,000 sq ft trophy office building in Chicago, Illinois that will serve as Google’s new regional headquarters.
The financing included $35m of mezzanine debt that was placed with Morgan Stanley Real Estate Investing at closing.
On the heels of an SEC agreement that delivered a hefty slap on the wrist and partial CMBS ban to ratings agency S&P, a new report from a rival firm suggests that a so-called slippage of underwriting among “other rating agencies” is widespread and could lead to a new credit crisis.
“Those who cannot remember the past are condemned to repeat it,” the US CMBS Q4 Review from Moody’s Investor Service begins, quoting philosopher George Santayana.
DRC Capital has clinched a €500m mandate to invest in European real estate senior debt, Real Estate Capital can reveal.
HIG Capital has appointed a new co-head of European real estate who will share the role with existing managing director Ahmed Hamdani.
The private equity investor has recruited Riccardo Dallolio to the position.
Strategic Hotels & Resorts acquired the 250-room Pacific Ocean-facing Montage Laguna Beach luxury resort in Laguna Beach, California from an affiliate of Ohana Real Estate Investors for $360m.
As part of the deal the firm assumed a $150m fixed-rate mortgage loan from Mass Mutual Life, priced at 3.9% and maturing in August 2021.
Bank of America Merill Lynch has priced its €286.4m Taurus 2015-1 IT CMBS, which is secured against Italian assets.
Natixus Real Estate Capital provided a $59.6m loan to Savanna for the acquisition of a new retail property in Manhattan’s Meatpacking District, according to city property records.
Savanna, a New York-based real estate private equity and asset management firm, paid $86m for the property at 461 West 14th Street, the records show.
MetLife, through MetLife Real Estate Investors, originated approximately $12.1bn globally in commercial real estate loans in 2014, topping 2013’s $11.5bn and setting a company record. Of the $12.1bn total, $8.6bn were US loans, the firm told Real Estate Capital. As it expanded its international efforts, MetLife also originated more than $2.1bn in the United Kingdom; […]
The Blackstone Group is on the cusp of breaking a fundraising record with its latest real estate opportunity vehicle, Blackstone Real Estate Partners (BREP) VIII, Real Estate Capital’s sister magazine PERE can reveal.
MetLife provided a $267m loan to Mirae Asset Global Investments for the acquisition of 1801 K Street in the nation’s capital, Washington, D.C.
1801The five-year, fixed-rate loan represents 60 percent of the $445m the South Korea-based investor paid for the 13-story office property.
The seller, Somerset Partners, and architect Skidmore, Owings and Merrill completed a redesign and redevelopment of the 563,000 sq ft asset, located in D.C.’s Central Business District in 2009.