At Expo Real this year, most people were smiling. There was a sense that anything was possible and that wasn’t just because of that warm glow you get after a couple of steins. There was a conviction in those Munich air hangers that for every asset or platform on the market there would be a […]
Deutsche Bank Trust Company Americas has provided a $460m loan to a joint venture led by Macklowe Properties for its acquisition of 1 Wall Street in Lower Manhattan. Macklowe Properties bought the 1.1 million sq ft skyscraper from Bank of New York Mellon for $585m. BNY Mellon stated its intentions to sell the property in April, […]
M&T Bank has provided Corigin Real Estate with $147m in mortgage financing for the development of a residential condominium project on the Upper East Side of Manhattan. The 17-story building at 20 East End Avenue will feature 43 luxury condos designed by Robert A. M. Stern Architects, the same firm behind the renown 15 Central […]
Blackstone is searching for £550m of fresh debt for an early refinance of its European Mint hotels portfolio, Real Estate Capital can reveal. The private equity firm has appointed Eastdil Secured to source the finance. The proactive move will decrease the company’s cost of debt and offers Blackstone the opportunity to take cash out – a […]
Lloyds Banking Group has completed another large refinancing for a private property company client’s UK portfolio. The bank has provided a new £210m five-year loan to David Pearl’s Structadene Group, replacing an existing facility provided by the bank. The deal has been priced at around 250 basis points at a conservative loan to value ratio, and the […]
Aareal Capital Corporation has provided San Francisco-based The Swig Company and New York City-based Himmel + Meringoff Properties with $134.2m in financing for the redevelopment of 1460 Broadway in Times Square. The lender, a subsidiary of Wiesbaden, Germany-based Aareal Bank Group, provided a five-year, floating-rate loan with two one-year extension options, Real Estate Capital has learned. Last […]
Developer lands $420m from Goldman/Dune
Blackstone provided a $56m first mortgage loan to Ivy Realty for the refinancing of One East Broward Boulevard, a 343,551 sq ft, Class A office tower in Fort Lauderdale, Florida. It is a three-year, floating rate, interest-only, non-recourse bridge loan with two one-year options. Connecticut-based Ivy Realty paid a reported $42m for a majority stake […]
Nationwide is preparing to sell a portfolio of £1bn of loans held against UK real estate. The building society is understood to have appointed Deloitte to carry out the process. Held against predominantly secondary assets issued to around 40 different borrowers, significant elements of the portfolio are thought to be performing or sub-performing rather than […]
Eliza Bailey, formerly head of private real estate debt at Partners Group, has a new job