Barbra Murray
JBG, Grosvenor Team on D.C. Condo Project
JBG Companies and Grosvenor plan a 125-unit condominium project in the nation’s capital.
Take Two: New $1.5B L.A. Hotel Plan Wins Over Critics
For a plan to redevelop the site of the historic Century Plaza Hotel in Los Angeles, the second time is the charm.
Cantor Fitzgerald, CIM Unveil New Mortgage Banking Venture
Cantor Fitzgerald and CIM Group disclosed today that they are joining forces in Cantor Commercial Real Estate (CCRE). The new enterprise is aiming for $5 billion in annualized loan production for starters.
1.4M-SF Ohio Commerce Center Snapped Up for Pocket Change
Spirongo Lordstown L.L.C., an entity controlled by brothers George and Spiros Bakeris of Howland, Ohio, has acquired the 1.4 million-square-foot Ohio Commerce Center in Warren, Ohio, from Roseville, Minn.-based Meritex.
CommonWealth REIT Scores $750M Unsecured Credit Facility
Less than two weeks before an existing facility was to mature, the Newton, Mass.-based office and industrial REIT obtains a $750-million facility from an international consortium of banks.
JP Morgan Chase Buys $3.5B Loan Portfolio from Citibank
JPMorgan Chase closes on the acquisition of a $3.5 billion portfolio of 3,800 performing multi-family and commercial real estate loans from Citibank.
Boyd Gaming JV Closes $950M Borgata Hotel Casino Debt Financing Deal
Marina District Development Co., the Las Vegas-based 50/50 joint venture that owns the Borgata Hotel Casino and Spa in Atlantic City, N.J., has wrapped up debt financing totaling $950 million.
Canyon-Johnson Equity Paves Way for New Baltimore-Area Mixed-Use Project
The Oxford Square transit-oriented development project in Hanover, Md., just got a substantial boost–in the form of preferred equity capital totaling $17.5 million from Canyon-Johnson Urban Funds. And while mixed-use projects are hardly rare in the area today, BRAC promises to increase demand in the near future.
$342M Financing Package Moves Plans Forward for Ritz-Carlton Resort in Puerto Rico
It may be tough to attract financing today to hotel resort ventures–especially hundreds of millions in development financing–but the Ritz-Carlton Reserve, Dorado Beach Resort & Spa project in Dorado, Puerto Rico, is an exception.
Emeritus JV Wraps Up Stayton Portfolio Buy
Emeritus Corp.’s portfolio has just gotten a lot bigger. In a joint venture with Blackstone Real Estate Advisors VI L.P. and Columbia Pacific Advisors, it closed the $1.2 billion acquisition of a 144-property seniors housing portfolio from Stayton SW Living L.L.C., which parted with the assets as part of its Chapter 11 plan of reorganization.