Blackstone Real Estate Debt Strategies (BREDS) has provided an affiliate of Fort Capital Management with a $290m construction loan for the development of a nine-acre Four Seasons resort at The Surf Club in Surfside, Florida. The loan is for three years at a variable rate and carries a loan-to-cost of roughly 50%, a source told […]
Deutsche Bank has provided a £200m loan to the owners of one the UK’s most upmarket aparthotels, Real Estate Capital can reveal. The new facility has been used to the owners of the Grosvenor House Apartments on Park Lane in London’s West End. It is owned by Park Lane Properties, a joint venture between Kuwaiti […]
Starwood Waypoint Residential Trust has ramped up its single-family rental and non-performing loan business with the $218.7m acquisition of two separate non-performing loan pools involving 1,294 NPR loans and 146 SFR homes. The SFR real estate investment trust funded the deals through a $500m warehouse credit facility with Deutsche Bank A.G. – $104m of which remained available […]
Mesa West Capital has provided loans totaling $51.4 million for the acquisition and renovation of two multifamily rental properties in the San Francisco Bay area of California, an area experiencing unrelenting rent spikes. Mesa West cited the Bay Area’s booming rental market as a sign that the loans, which carry loan-to-value ratios between 65% and […]
Brockton Capital has refinanced its UK retail parks portfolio with a new loan of around £190m, Real Estate Capital can reveal. It is understood that Aareal Bank has provided a five year facility that is held against a portfolio of eight parks. The parks are thought to be valued at around £300m, meaning a loan-to-value […]
JLL has recruited a new national director to establish a debt advisory business in Spain. Jorge Valenzuela Requena has been recruited from Hill International, the project and construction management business where he was business development director Requena’s role will be to help investors in the country to get the best possible financing terms and prepare […]
A bank has been chosen to refinance the iconic Savoy Hotel in London’s West End, Real Estate Capital can reveal. Deutsche Bank is understood to be the preferred party to lead the £300m refinancing, beating Citibank to the mandate. Eastdil Secured was appointed to search for a party to refinance the luxury hotel by its owners Saudi […]
MetLife has provided Shorenstein Properties with $170m to refinance the office building at 850 Third Avenue in Midtown Manhattan. The new three-year floating rate loan replaces a $180m loan Deutsche Bank provided in 2010, a person familiar with the deal said. The office complex, built in 1962, is located between 51st and 52nd Streets, on the east side […]
Harry Macklowe of Macklowe Properties has secured a $65m mortgage loan for the acquisition of a mixed-use development project at 985 Third Avenue, on the east side of Midtown Manhattan. The lender of the variable rate loan is Singapore-based bank Domenico PTE, city property records show. Macklowe paid sellers SL Green and Emmes Asset Management a combined $86.9m […]
The European head of investment management at the world’s largest CMBS special servicer, LNR Partners, has left the business, Real Estate Capital can reveal. Derek Rich has left LNR by mutual consent following three years with the firm. He was responsible for all investment, advisory and real estate due diligence across LNR’s European business and […]