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Mezzanine
Pearlmark Real Estate Partners has raised $50m for the first close of Pearlmark Mezzanine Realty Partners IV, the latest fund in the firm’s high yield debt series. The fund will originate mezzanine loans for acquisitions, refinancings, recapitalizations and development projects, also targeting subordinate interests of structured loans, preferred equity and bridge loans. The fund is targeting returns between 10 and 12 percent. […]
Natixis Real Estate Capital has provided $66m to Manhattan-based Bauhouse group for the purchase of three NYLO full service boutique hotel properties in Irving, Plano,(both in Texas) and Warwick, Rhode Island.
The Shariah-compliant bank will front the equity for a US-based investor and provide mezzanine debt for European real estate.
Nashville-based Giarratana Development has secured $75.9m in loans for the construction of the SoBro luxury rental apartment tower in downtown Nashville, Tennessee. Chicago-based BMO Harris Bank provided a $58m senior construction loan, while New York-based NorthStar Realty Finance – through its lending entity QARTH Holdings NT-II – provided a $17.9m mezzanine loan on the $90.8m project. […]
Apollo Commercial Real Estate Finance (ARI), the listed US debt investor, has completed $143.6m in new investments. The REIT, which is managed by Apollo Global Management, has made a $50.2m CMBS acquisition and two loans totaling $93.4m – one of which was secured by a Times Square hotel in New York City. Ari acquired a $28.3m […]
Bayside Capital has emerged as the mezzanine provider behind the refinancing of one of Spain’s largest shopping and leisure centres. The opportunistic investor issued a mezz loan of around €20m for the refinancing of Madrid’s Islazul shopping centre. Bayside’s position sits between 50% and 70% LTV in the overall capital stack. Owners Ivanhoe Cambridge […]
DRC’s European Real Estate Debt Fund ll seeks £400m from institutional investors, as managers plan a raft of follow-on mezzanine debt vehicles