Walker & Dunlop and its affiliates have provided a $72.2m in loans to Key Real Estate Company for the acquisition of six multifamily properties located in Texas and Louisiana. The firm structured the financing into bridge, conduit and mezzanine portions. Three adjustable rate loans for $35.4m – cross-collateralized, cross-defaulted and secured by three of the multifamily […]
The lenders on Blackstone’s recent $800m acquisition of a 47-hotel portfolio from Clarion Partners will securitize the $570m senior loan on the deal, a source familiar with the deal told Real Estate Capital. JPMorgan Chase Bank and Deutsche Bank will securitize the five-year, floating rate debt into a single-borrower securitization in the coming weeks. The banks – […]
A German pension fund has made another large investment in debt, providing €450m for the refinancing of Mall of Berlin in the German capital. Bayerische Versorgungskammer (BVK) contributed the senior portion of a larger €600m refinancing of the new shopping centre, which saw Deutsche Hypo take a subordinate tranche of €80m and two credit funds of BNP […]
A $47.4m CMBS loan UBS Real Estate Securities provided to refinance the Netpark office park in Tampa, Florida is the largest post-recession loan in the nation for a property with Tenant in Common (TIC) ownership, according to Bluett & Associates. Bluett arranged the 10-year, non-recourse, fixed-rate mortgage loan and has taken over as the property’s manager, staving […]
Sam Chang’s McSam Hotel Group has acquired a mental health facility at 334 West 36th Street with the help of a $40m loan from Pembrook, Real Estate Capital has learned. The loan carries a 79% loan-to-value ratio based on the corresponding $50.8m acquisition of the property, located in a section of town packed densely with […]
GE Capital Real Estate has provided an $81.1m mortgage loan to Gaia Real Estate for the firm’s $147m acquisition of 144 apartments at The Corinthian building at 330 East 38th Street, Real Estate Capital has learned based on city property records. Texas and New York-based Gaia purchased the units in the 57-story, 817-unit tower from the […]
US CMBS delinquency rates stalled last month after a 13-month free fall, but experts said they could bounce back with the help of upcoming online property auctions. Research and data group Trepp said the overall US CMBS delinquency rate decreased by just one basis point in July, to 6.04%, after a year-to-date drop (through June) of […]
After pricing its first securitization backed by single-family homes last week, American Residential Properties is looking forward to a second. Company CFO Shant Koumriqian told Real Estate Capital the new offering could come as soon as “early next year.” “At this point, that seems very attractive,” he said. “We’re seeing a growing acceptance of this asset class.” American […]
Barclays Ireland has provided Irish Residential Properties REIT with a new €130m credit facility. The two-year facility is secured against the company’s assets. The Dublin-listed REIT raised €200m in April to invest in mid-market and luxury residential property in the Emerald Isle.In June it bought Marker Residences, an 84-flat scheme in Grand Canal Dock in […]
Big Yellow Group has put in place three new loans reducing its average cost of debt and extending its maturity. The London-listed self-storage company has agreed a £145m, five-year facility with Lloyds Bank and HSBC Bank. Half is a term facility and half is revolving. The term loan has a margin of 175 basis points […]