A $47.4m CMBS loan UBS Real Estate Securities provided to refinance the Netpark office park in Tampa, Florida is the largest post-recession loan in the nation for a property with Tenant in Common (TIC) ownership, according to Bluett & Associates. Bluett arranged the 10-year, non-recourse, fixed-rate mortgage loan and has taken over as the property’s manager, staving […]
1 min read · 25 August 2014
Sam Chang’s McSam Hotel Group has acquired a mental health facility at 334 West 36th Street with the help of a $40m loan from Pembrook, Real Estate Capital has learned. The loan carries a 79% loan-to-value ratio based on the corresponding $50.8m acquisition of the property, located in a section of town packed densely with […]
2 min read · 22 August 2014
GE Capital Real Estate has provided an $81.1m mortgage loan to Gaia Real Estate for the firm’s $147m acquisition of 144 apartments at The Corinthian building at 330 East 38th Street, Real Estate Capital has learned based on city property records. Texas and New York-based Gaia purchased the units in the 57-story, 817-unit tower from the […]
1 min read · 20 August 2014
US CMBS delinquency rates stalled last month after a 13-month free fall, but experts said they could bounce back with the help of upcoming online property auctions. Research and data group Trepp said the overall US CMBS delinquency rate decreased by just one basis point in July, to 6.04%, after a year-to-date drop (through June) of […]
2 min read · 20 August 2014
After pricing its first securitization backed by single-family homes last week, American Residential Properties is looking forward to a second. Company CFO Shant Koumriqian told Real Estate Capital the new offering could come as soon as “early next year.” “At this point, that seems very attractive,” he said. “We’re seeing a growing acceptance of this asset class.” American […]
2 min read · 20 August 2014
Barclays Ireland has provided Irish Residential Properties REIT with a new €130m credit facility. The two-year facility is secured against the company’s assets. The Dublin-listed REIT raised €200m in April to invest in mid-market and luxury residential property in the Emerald Isle.In June it bought Marker Residences, an 84-flat scheme in Grand Canal Dock in […]
1 min read · 19 August 2014
Big Yellow Group has put in place three new loans reducing its average cost of debt and extending its maturity. The London-listed self-storage company has agreed a £145m, five-year facility with Lloyds Bank and HSBC Bank. Half is a term facility and half is revolving. The term loan has a margin of 175 basis points […]
2 min read · 19 August 2014
Blackstone Real Estate Debt Strategies (BREDS) has provided an affiliate of Fort Capital Management with a $290m construction loan for the development of a nine-acre Four Seasons resort at The Surf Club in Surfside, Florida. The loan is for three years at a variable rate and carries a loan-to-cost of roughly 50%, a source told […]
2 min read · 18 August 2014
Deutsche Bank has provided a £200m loan to the owners of one the UK’s most upmarket aparthotels, Real Estate Capital can reveal. The new facility has been used to the owners of the Grosvenor House Apartments on Park Lane in London’s West End. It is owned by Park Lane Properties, a joint venture between Kuwaiti […]
2 min read · 18 August 2014
Starwood Waypoint Residential Trust has ramped up its single-family rental and non-performing loan business with the $218.7m acquisition of two separate non-performing loan pools involving 1,294 NPR loans and 146 SFR homes. The SFR real estate investment trust funded the deals through a $500m warehouse credit facility with Deutsche Bank A.G. – $104m of which remained available […]
2 min read · 15 August 2014
