Insight

PMCC provides $62m Connecticut acquisition loan

Prudential Mortgage Capital Company has provided a $62 million loan for the acquisition and renovation of Squire Village Apartments, a 379-unit affordable multifamily property in Manchester, Connecticut.

Assurant launches into US CMBS with first securitization

Assurant Inc. is securitizing its first CMBS transaction. Fitch Ratings has assigned a preliminary rating to $259.7 million Assurant Commercial Mortgage Trust 2016-1 transaction, backed by 79 loans on 89 properties.

Pbb provides €78m for GLL’s Polish logistics

German bank pbb Deutsche Pfandbriefbank has financed the purchase by a Munich-based investor of two logistics warehouses in Poland with loans totalling €78 million.

CapitalSource provides $29m Brooklyn construction loan

The floating rate construction loan construction loan carries a three-year term with two one-year extension options, sources said.

SEGRO renegotiates €780m of unsecured debt

Listed industrial property specialist SEGRO has renegotiated a total of €780 million of unsecured bank facilities with nine existing lenders and new lender Wells Fargo.

JLL’s SFG reaches first close for Indian RE fund

Segregated Funds Group (SFG), the Indian investment arm of real estate firm Jones Lang LaSalle (JLL), has raised INR120 crore ($18 million) at the first close of its new lending vehicle, Residential Opportunities Fund-II (ROF-II). The new fund is targeting up to INR300 crore.

WeiserMazars’ CRE Summit: Sponsors face tougher scrutiny

CRE lenders are scrutinizing borrowers more rigorously than at any previous point this real estate cycle, delegates heard today at accounting firm WeiserMazars LLP’s New York Commercial Real Estate Summit in Manhattan.

Deutsche teams up with Asian banks to back Brockton JV’s Mayfair development

A consortium comprising Deutsche Bank, Bank of China and Singapore’s United Overseas Bank has provided development finance to support the £600 million redevelopment of 60 Curzon Street in London’s Mayfair area.

Aareal’s “cautious” Q1 lending drops to €900m

The volume of new lending by Aareal Bank’s structured property finance division during Q1 2016 was just half of the volume originated during the same period last year.

Children’s Investment Fund makes £350m loan on London tower

The Children’s Investment Fund (TCI) has made its first loan on a tower in central London, backing Almacantar’s Marble Arch Place scheme with a whole loan of close to £350 million, Real Estate Capital can reveal.