Bank Financial Services

M&T Bank-led consortium funds $425m loan for Long Island City residential tower

Greystone-arranged financing will help build submarket’s tallest multifamily asset.

Sponsors work to iron out ambiguities as LIBOR sunset nears

Commercial real estate sponsors and lenders are looking at the language around transitioning derivatives contracts tied to the benchmark.

RBC Capital Markets originates $150m for Tishman Speyer retail renovation project

Washington, DC, shopping mall will be redeveloped into mixed-use asset with 320 apartment units.

Borrower profile: HGI focuses on multifamily market while watching  

A key driver of activity in the multifamily sector is support from Fannie Mae and Freddie Mac for stabilized and pre-stabilized assets.

Falling VC funding hits life sciences lending

The sector is being hit by rising interest rates and other trends also affecting the broader commercial real estate debt markets.

Holding pattern: How CRE execs plan to weather 2023’s sustained lending volatility

Goldman Sachs, US Bank, Franklin BSP executives anticipate more stress and higher debt costs.

Troubled mall portfolio sees significant jump in appraisal valuation

The Starwood-owned portfolio’s appraisal value has risen 35%% since December 2021.

Fitch report tracks significant drop in 2022 CMBS loss severities 

The New York-based agency saw a loss severity of 48.4% in 2022, versus a loss severity of 56% in 2021.

Cain strikes deal to acquire $1.2bn New York-area loan portfolio from PacWest

The sale comes after PacWest sold another substantial portfolio to Kennedy Wilson earlier this month.

Basis closes B-piece acquisition as CMBS relative value plays emerge 

The firm compared the leverage and yields on the B-piece with similar metrics for preferred equity or mezzanine debt investments.