Insight

Madison Realty Capital closes Debt Fund III on $695m

The firm sourced the capital for the MRC Debt Fund III LP from public and corporate pension funds, foundations, endowments, family offices, and wealth managers.

Most US CMBS “refi wave” loans well positioned: Moody’s

The soon-to-crest “refi wave” in US CMBS will have loan maturities in excess of $12 billion per month, according to a new report from Moody’s Investor’s Service. And without a significant disruption to the market in the coming months, most of these maturing loans are well positioned to pay off.

Greystone hires two to boost CMBS platform

Former RAIT Financial Trust executive Harris Heller joins as a managing Director based in Philadelphia, and Nicholas Diamond joins from Pillar Multifamily as a director based in New York.

Oaktree and Bascom secure $471m Las Vegas loan

Funds managed by the two groups secured the loan from a government-sponsored enterprise (GSE) lender for the acquisition of a 15-property multifamily portfolio.

Former Oaktree exec to head debt crowdfunding platform

Paul Deitch, a former managing director at investment firm Oaktree Capital Management, has joined commercial real estate debt platform Patch of Land as CEO.

BAML releases indicative pricing for second European CMBS of 2016

The AAA notes indicatively priced at 120-130 basis points over three-month Euribor.

Six Canadian CMBS deals in the line of fire

Sweeping wildfires have led Fitch Ratings to place six CMBS transactions backed by properties in Alberta, Canada on watch. The wildfires, ignited by an unusually dry winter, have been ravaging the oil town of Fort McMurray in Alberta, Canada the past several days.

Goldman Sachs provides $85m on East Village apartments

Lightstone purchased both properties from Pan Am Equities for a total of $127.5 million, city property records show, bringing the deal’s loan-to-value to 66 percent.

Horizon launches bond secured by UK residential properties

Horizon Asset Management, a Cayman Islands-registered fund manager which focusses on UK real estate, has launched an offering of bonds secured by residential property. The firm described the method of raising finance as a cost effective alternative to a traditional bank loan.

Life insurance lenders provide $500m to refinance Manhattan offices

AXA Equitable Life Insurance Company and Metropolitan Life Insurance Company provided $500 million for the refinancing of a 29-story office building at 31 West 52nd Street in Midtown Manhattan.