Insight

Wells Fargo leads $1.5bn loan on supertall Midtown office building

Wells Fargo is administrative agent on a $1.5 billion construction loan to SL Green Realty on its One Vanderbilt office development, which will become the tallest building in Midtown Manhattan.

PNC backs DC office building with $24m loan

PNC Bank has provided a $24 million, 10-year, fixed-rate loan to Rockrose Development Corporation for the refinancing of 1140 19th Street in Washington, DC.

REC Finance Forum: Greece tipped for 2017 NPL deals

A market for non-performing real estate loans could emerge in Greece in the coming year, suggested panellists at Real Estate Capital’s Finance Forum: Europe 2016 this morning (28 September).

REC Finance Forum: Weight of capital “reduced significantly”

The volume of capital from lenders aiming to finance real estate has dropped “significantly” in the wake of the UK’s vote to leave the EU, delegates at Real Estate Capital’s Finance Forum: Europe 2016 heard yesterday.

REC Finance Forum: Opportunities open up for debt funds

Finance for less mainstream assets has gradually tightened in the UK this year, borrowers told the Real Estate Capital Finance Forum, with banks no longer able to meet all their financing needs.

Prudential provides $100m on Manhattan offices

Prudential Mortgage Capital Company has provided a $100 million financing to Skyline Developers on its 24-story office building at 1040 Avenue of the Americas in the Garment District of Manhattan.

Pbb provides €20m on infrastructure developments in France

Pbb Deutsche Pfandbriefbank has provided a €20 million loan to the Département du Finistère in France to finance the renovation of several infrastructure projects including road networks and colleges.

REC Finance Forum: Lenders cautious, but the cycle isn’t over

European real estate lenders are exercising caution, although the property cycle has not yet reached its peak across Europe, delegates at Real Estate Capital’s Finance Forum: Europe 2016 heard this morning (27 September).

AIG life company provides $50m on Manhattan offices

A life insurance company owned by AIG has provided a $50.2 million financing to an affiliate of Edison Properties on a 12-storey office building at 119 West 24th Street in the Chelsea neighborhood of Manhattan.

Six Canadian CMBS deals no longer in line of fire

All nine CMBS classes that Fitch Ratings placed on ‘Rating Watch Negative’ following wildfires that ravaged the oil town of Fort McMurray in Alberta, Canada have been taken off the agency’s watch list.