Scott Baltic
Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect’s Newspaper. He earned a master’s in journalism from Northwestern University’s Medill School of Journalism and has a bachelor’s from North Park University.
KBS REIT Snares $1B Financing Commitment
BofA, Wells Fargo and U.S. Bank were the joint lead arrangers of the three-year facility, which marks the largest single financing transaction in the company’s history.
Gramercy Lands $400M Syndicated Term Loan
Capital One also was the sole lead arranger, sole book runner and administrative agent. The loan has replaced a previous $175 million term loan that was closed in December 2015.
Kennington Property Expands in Dallas–Ft. Worth
The company acquired Jupiter Service Center, a four-building Class A flex office/R&D complex in Plano, Texas. Stream Realty Partners marketed the property on behalf of Situs, its seller.
$58M Sourced to Refi South Florida Retail Portfolio
MMG Equity tapped HFF to find the lender, a life company, for a nine-property portfolio. The properties are located in urban infill areas in what reportedly are some of South Florida’s densest retail submarkets.
Franklin Street Closes Major Credit Facility Expansion
The recast of the existing unsecured credit facility into the $1 billion facility is accompanied by a $200M private placement and extension of term loans.
HCP Lands New $2B Credit Facility
The instrument includes two six-month extension options at the company’s discretion and the ability to increase the commitments by an aggregate amount as high as $750 million.
Sares Regis to Redevelop Former Toyota HQ
The 110-acre property is home to more than 2 million square feet of office and industrial space in Torrance, Calif., including special amenities such as a data center, hydrogen fueling stations and helipads.
Report Explores Technology’s Role in CRE Trends
Possibilities include wi-fi ads, multi-building green planning, even drone high-rises. The bank’s latest report details what’s still to come and what the industry’s disruptors will be.
Berkadia Tapped to Seek $650M for San Diego Project
The eight-block Manchester Pacific Gateway will eventually encompass 2.8 million square feet of hotel, office and retail space. The location is reportedly the largest undeveloped urban waterfront site on California’s coast.
Japanese Company Buys NYC Office for $468M
UNIZO Holdings purchased 685 Third Ave., a 31-story building in Midtown Manhattan, from a joint venture between TH Real Estate, an affiliate of Nuveen, and Future Fund of Australia.