Cornerstone Real Estate Advisers has arranged a $56.5m loan to support the future of the new Residence Inn Boston – Back Bay Fenway in Boston, Massachusetts. The 10-year fixed rate loan to Boylston Properties backs the 175-key, extended stay hotel at 125 Brookline Avenue, which the firm completed and opened last summer. Boston-based Group One Partners […]
2 min read · 13 October 2014
Wells Fargo has provided an $80m loan that upsizes and extends an existing floating rate mortgage loan at Brookfield Office Properties’ 200 Vesey Street in Lower Manhattan. The original loan, provided to Brookfield on the last day of December 2010, was for $150m, bringing the aggregate loan size to $230m. The property is part of the […]
2 min read · 13 October 2014
Colony Capital is slated to hold a final close by the end of the month on its latest distressed debt fund, Colony Distressed Credit and Special Situations Fund (CDCF) III, which has hit its hard cap of $1.2bn in base capital commitments, reports our sister publication, PERE. The Los Angeles-based real estate investment firm, which […]
2 min read · 13 October 2014
Ramón Camina-Mendizabal has resigned from his position as head of real estate finance, EMEA at Goldman Sachs, Real Estate Capital can reveal. After a 15-year stint with the investment bank Camina-Mendizabal (pictured) has left to help establish a new business with Ed Siskind the former head of Goldman’s Real Estate Principal Investment Area (REPIA). It […]
1 min read · 10 October 2014
A new player in the European real estate debt market has bought the mezzanine debt secured against three UK business parks formerly owned by MEPC, Real Estate Capital can reveal. Highbridge Principal Strategies, owned by JP Morgan Asset Management, has taken just under £75m of a £335m whole loan secured against the regional assets that […]
2 min read · 10 October 2014
At Expo Real this year, most people were smiling. There was a sense that anything was possible and that wasn’t just because of that warm glow you get after a couple of steins. There was a conviction in those Munich air hangers that for every asset or platform on the market there would be a […]
4 min read · 10 October 2014
Deutsche Bank Trust Company Americas has provided a $460m loan to a joint venture led by Macklowe Properties for its acquisition of 1 Wall Street in Lower Manhattan. Macklowe Properties bought the 1.1 million sq ft skyscraper from Bank of New York Mellon for $585m. BNY Mellon stated its intentions to sell the property in April, […]
1 min read · 09 October 2014
M&T Bank has provided Corigin Real Estate with $147m in mortgage financing for the development of a residential condominium project on the Upper East Side of Manhattan. The 17-story building at 20 East End Avenue will feature 43 luxury condos designed by Robert A. M. Stern Architects, the same firm behind the renown 15 Central […]
2 min read · 09 October 2014
Blackstone is searching for £550m of fresh debt for an early refinance of its European Mint hotels portfolio, Real Estate Capital can reveal. The private equity firm has appointed Eastdil Secured to source the finance. The proactive move will decrease the company’s cost of debt and offers Blackstone the opportunity to take cash out – a […]
2 min read · 09 October 2014
Lloyds Banking Group has completed another large refinancing for a private property company client’s UK portfolio. The bank has provided a new £210m five-year loan to David Pearl’s Structadene Group, replacing an existing facility provided by the bank. The deal has been priced at around 250 basis points at a conservative loan to value ratio, and the […]
2 min read · 09 October 2014
