Commercial real estate experts are concerned that a new Credit Risk Retention Rule from the Federal Deposit Insurance Corp. and five other federal agencies could weaken the US commercial mortgage-backed securities markets. The rule, born from the 2010 Dodd-Frank Act, compels lenders to hold at least 5% of the debt they package or sell. While two […]
Debt funds seen as more innovative and quicker in executing
BankUnited of Tampa has provided a $39.5m loan to IP Capital Partners and Fir Tree Partners for the acquisition of the Sabal Park office portfolio in Tampa, Florida. The five-year, partial interest-only loan carries a 65 percent loan-to-value ratio, according to CBRE Debt & Structured Finance, which arranged the deal. That ratio puts the portfolio’s […]
Loan partly sold down to five investors
Deal is PIMCO's first mezzanine loan in France
Cain Hoy and banking club win mandates at 1.5m sq ft scheme
Deutsche Bank has provided Metro Loft Developers with $115m in financing for a condo conversion project at 443 Greenwich Street in Manhattan’s TriBeCa neighborhood. The loan – split between a $109.4m building loan and $5.6m project loan – will partially pay down $105m in debt that UBS Real Estate Securities provided on the project in January […]
RBS and Allied Irish back listed firm
Deal is Helaba's second in Paris in quick succession
Greystone announced that it will sell loans under Freddie Mac’s new Small Balance Loan (SBL) offering, which the government-sponsored enterprise (GSE) is calling a “game changer” for the small loan market. The new platform offers fixed-rate and hybrid adjustable-rate mortgage loans ranging from $1m to $5m on multifamily acquisitions or refinancings. “This designation enables Greystone […]