Tag: Finance

Stroock & Stroock & Lavan’s Evan Hudson on Non-Traded REITs and Mini-Tender Bidders

For years, investors in real estate investment trusts (REITs) were largely forced to pick their poison. On the one hand, those who prize liquidity could invest in market-traded REITs that are easy to sell off in a pinch, but these trusts have, in recent history, traded at a discount to their underlying net asset values. […]… Read More Stroock & Stroock & Lavan’s Evan Hudson on Non-Traded REITs and Mini-Tender Bidders

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SunTrust Lends $34M on Housing Complex Planned for Jacksonville

Waypoint Residential, a Boca Raton, Fla.-based multifamily developer, has pinned down $34 million in financing from Atlanta’s SunTrust Bank to fund work on a planned housing development in Jacksonville, Fla., the lender announced today. The debt will fund construction of a 17-building, 301-unit residential complex called Volaris West Kernan in the northern Florida city, along […]… Read More SunTrust Lends $34M on Housing Complex Planned for Jacksonville

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Manhattan Parking Portfolio Nabs $35M Refi from AXA

A partnership that runs New York City parking facilities has scored a $35.2 million refinancing from AXA Equitable Life Insurance for a portfolio of four Manhattan garages, according to property records. The borrower, Icon Quik Park—led by Rafael Llopiz and The Becker Organization‘s Bryan Becker—owns and operates commercial garages throughout the city. The deal includes […]… Read More Manhattan Parking Portfolio Nabs $35M Refi from AXA

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Mass Mutual Lends $85M to Refinance ABS Real Estate’s Flatiron Office Property

Barings, a subsidiary of Massachusetts Mutual Life Insurance Company, has provided ABS Real Estate Partners with $85 million to refinance 13 condominiums within its office building at 162 Fifth Avenue, according to records filed today with the New York City Department of Finance. The loan refinanced previous acquisition and construction financing from a number of […]… Read More Mass Mutual Lends $85M to Refinance ABS Real Estate’s Flatiron Office Property

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LoanCore Lends $182M in Midtown East Office Acquisition

New York City-based APF Properties has funded its acquisition of a Midtown East office building with a $182 million financing from LoanCore Capital, according to city property records. The debt deal, which funded the investment company’s acquisition of 183 Madison Avenue, included $82 million in new mortgages combined with $100 million that was lent by […]… Read More LoanCore Lends $182M in Midtown East Office Acquisition

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Arbor, ArborCrowd Team Up to Finance Multifamily Property Acquisition in $26M Deal

NKF Capital Markets has arranged a $19.5 million loan plus a $3.55 million equity investment for CS Acquisition Group’s purchase of Cove West Hartford, a 200-unit apartment community in West Hartford, Conn., Commercial Observer has learned. Arbor Realty Trust and ArborCrowd provided the debt and equity, respectively. The property was acquired by New Jersey-based CS […]… Read More Arbor, ArborCrowd Team Up to Finance Multifamily Property Acquisition in $26M Deal

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Berkadia Funds NJ Mixed-Use Development With $92M in CMBS Debt

Berkadia Commercial Mortgage has funded a $92.4 million Freddie Mac CMBS loan to refinance The View at Edgewater Harbor—a northern New Jersey apartment and retail complex—according to Kroll Bond Rating Agency, which rated the securitization. Greenwich, Conn.-based National Resources, the company that owns The View, will pay a fixed interest rate of 4.23 percent on […]… Read More Berkadia Funds NJ Mixed-Use Development With $92M in CMBS Debt

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HSBC Lends $100M in Union Square W Hotel Acquisition

Westbrook Partners has secured a $100 million loan to back its purchase of 201 Park Avenue South, the building that hosts the W New York Union Square hotel, according to documents filed today in city property records. The loan, from HSBC Bank, covers sixty percent of the $165.6 million purchase price, the deed, which was […]… Read More HSBC Lends $100M in Union Square W Hotel Acquisition

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BBVA Provides $37M Construction Loan for Florida Resi Project

A Florida developer has nabbed a $37.3 million construction loan from BBVA Compass to kick off work on a new multifamily project on the state’s Atlantic coast, Commercial Observer can exclusively report. A Colliers International brokerage team led by Jeffrey Donnelly and Dmitry Levkov arranged the financing, according to a Colliers spokesman. The lender, based […]… Read More BBVA Provides $37M Construction Loan for Florida Resi Project

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Oxford Capital Group Nabs $53M Refinance for Tampa Bay Hotel

Oxford Capital Group has scored a $53 million loan from Marathon Asset Management to refinance construction debt on The Godfrey Hotel and Cabanas in Tampa, Fla., Commercial Observer can exclusively report. The non-recourse, floating-rate loan carries a spread in the low 400s over LIBOR, sources said, and retires roughly $30 million in previous construction financing […]… Read More Oxford Capital Group Nabs $53M Refinance for Tampa Bay Hotel

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