Insight

Piramal RE fund arm backs Lodha projects

In one of the largest real estate debt deals in India in recent years, Piramal Fund Management (PFM), the real estate-focused fund and funding platform, has invested Rs2,320 crore ($347 million) in various projects being undertaken by developer Lodha Group in Mumbai.

Office Depot closures put nearly $1bn of CMBS at ‘high risk’: Morningstar

Office Depot has announced plans to close 300 stores over the next three years, potentially elevating the risk of $956.6 million worth of properties backing CMBS deals.

Natixis, Wells Fargo team up on $197m Brooklyn loan

Natixis Real Estate Capital and Wells Fargo Bank have co-led a $197 million financing for the construction of a mixed-use project in the Williamsburg neighborhood of Brooklyn, each underwriting a $98.5 million portion of the loan.

Saving the planet, one default at a time

CRE sustainability initiatives protect lenders against risk while helping to reduce the environmental impacts of commercial buildings.

Greystone provides $62m agency loan

Greystone has provided a $62 million Freddie Mac loan to Cortland Partners on its 510-unit Watermark at East Cobb apartment complex in a suburb or Atlanta, Georgia.

Bank of America provides $89m on Brooklyn apartments

Bank of America has provided an $89.3 million financing to an affiliate of Teresa Viola, wife of billionaire investor Vincent Viola, on a 152,000 sq ft multifamily property overlooking the Hudson River at the edge of Brooklyn Heights.

Pillar originates $172m MHC loan

Pillar has originated a $172 million fixed-rate, 10-year term credit facility through Fannie Mae for the acquisition of 11 Manufactured Housing Community (MHC) properties.

BayernLB finances Triuva’s double acquisition

BayernLB has provided a €72 million loan to a fund managed by Triuva, formerly known as IVG Institutional Funds, to finance the purchase of two office buildings in Germany.

National Life provides $32m on Birmingham, Alabama office building

A subsidiary of the National Life Insurance Company has provided a $32.4 million acquisition loan to Preferred Apartment Communities (PAC) on a nine-story, 169,500 sq ft office building in Birmingham, Alabama.

Lone Star secures $150m New Mexico pension commitment

The New Mexico Educational Retirement Board (NMERB) approved a $150 million commitment to Lone Star’s Fund X at its investment committee meeting on 25 August, according to chief investment officer Bob Jacksha.