PM Realty Group and National Real Estate Advisors have secured a $79m construction loan for the development of The Confluence, a 34-story luxury residential tower that is set to become Denver, Colorado’s tallest. The four-year loan carries a 65 percent loan-to-cost. Rob Rizzi from HFF, which arranged the financing, said his team negotiated a “longer initial term with extension, providing more of a mini perm option without sacrificing the very low floating-rate or any other terms.”
2 min read · 05 March 2015
San Diego-based healthcare developer Pacific Medical Buildings secured a $41m construction-to-permanent loan for the development of The Hoag Health Center in Irvine, California, which is reflective of a booming health care industry buoyed by new construction and aggressive lending. The 12-year, fixed-rate loan on the Hoag center, provided by an undisclosed correspondent life insurance company, is interest-only during the two-year construction period.
2 min read · 04 March 2015
Telford Homes has signed a new £180m corporate loan facility with a quartet of banks.
1 min read · 04 March 2015
Leading data firms are noting significant drops in delinquency rates that have created historic lows among top investors groups, including those serving the CMBS and multifamily loan markets. CMBS delinquency rates (30+ days) fell to 5.58% in February, down eight basis points month-over-month and 120 basis points from the year-ago level, Trepp said today in a new report.
2 min read · 03 March 2015
Lloyds has restructured its commercial real estate lending business into six specialist teams.
2 min read · 03 March 2015
ING Real Estate Finance has completed a €63m refinance of Via Santa Margherita 3 in Milan.
1 min read · 02 March 2015
ING Commercial Banking has appointed a new head of real estate finance for Asia Pacific. Robert Scholten has moved to the position having been at the bank for 25-years.
1 min read · 02 March 2015
TIAA Henderson Real Estate has completed the refinancing of its €1.5bn European Outlet Mall Fund.
1 min read · 02 March 2015
JP Morgan Chase Bank has provided a $33.6m loan backing the repositioning of a group of Manhattan buildings owned by the Wildenstein family, a dynasty of international art dealers.
2 min read · 28 February 2015
Helaba has refinanced an office park in Toulouse with a €34m loan. The deal demonstrates Helaba’s willingness to lend outside of the Paris, which dominates the French real estate market and where competition is at its greatest.
2 min read · 27 February 2015
