Aareal Capital Corporation has provided San Francisco-based The Swig Company and New York City-based Himmel + Meringoff Properties with $134.2m in financing for the redevelopment of 1460 Broadway in Times Square. The lender, a subsidiary of Wiesbaden, Germany-based Aareal Bank Group, provided a five-year, floating-rate loan with two one-year extension options, Real Estate Capital has learned. Last […]
2 min read · 06 October 2014
Developer lands $420m from Goldman/Dune
1 min read · 06 October 2014
Blackstone provided a $56m first mortgage loan to Ivy Realty for the refinancing of One East Broward Boulevard, a 343,551 sq ft, Class A office tower in Fort Lauderdale, Florida. It is a three-year, floating rate, interest-only, non-recourse bridge loan with two one-year options. Connecticut-based Ivy Realty paid a reported $42m for a majority stake […]
1 min read · 06 October 2014
Nationwide is preparing to sell a portfolio of £1bn of loans held against UK real estate. The building society is understood to have appointed Deloitte to carry out the process. Held against predominantly secondary assets issued to around 40 different borrowers, significant elements of the portfolio are thought to be performing or sub-performing rather than […]
2 min read · 06 October 2014
Eliza Bailey, formerly head of private real estate debt at Partners Group, has a new job
2 min read · 03 October 2014
Kennedy Wilson Europe Real Estate is close to raising £350m through a new share issue. It has or is in the process of issuing nearly 35 million shares representing around 35% of the company’s share capital. This will give the company, which launched a £1bn initial public offering in February, new firepower to invest into […]
2 min read · 03 October 2014
CNL Commercial Real Estate and Long Wharf Real Estate Partners have secured a $38.2m loan for the refinancing of Sawgrass Lake Center in Sunrise, Florida. The loan, provided by Mesa West, according to sources familiar with the deal, will also fund future tenant improvements and leasing costs at the 239,373 sq ft, Class A office […]
1 min read · 02 October 2014
LaSalle Investment Management’s £440m UK LaSalle Residential Finance (LRF) fund has expanded its mandate into hotels and completed its first deal in the sector, Real Estate Capital can reveal. The broader remit will allow it greater flexibility to compete for deals in the slowly reawakening UK development finance market. The fund previously focused on only […]
2 min read · 02 October 2014
Trez Capital, one of Canada’s largest non-bank commercial mortgage lenders, is seeking a commercial real estate veteran to replace president and CEO Morley Greene, Real Estate Capital has learned. Greene, 74, who founded Trez Capital 17 years ago, said his retirement will imminently follow the selection of his successor. “I’m not a young man and we need […]
2 min read · 02 October 2014
A group of banks led by JPMorgan and HSBC has provided RXR Realty with a $185m construction loan for the repositioning of 75 Rockefeller Plaza in Midtown Manhattan, Real Estate Capital has learned. JPMorgan served as the lead agent on the deal, while HSBC was co-agent and Sumitomo Corporation and SunTrust Banks provided the balance. […]
2 min read · 01 October 2014
