Business Specialties
Fund Watch: Green Courte Closes $410M Fund; Sunrise Secures $50M
Green Courte Partners just closed a new fund with $406.9 in commitments for investments in niche real estate assets, and Sunrise Senior Living recently obtained a $50 million senior secured credit facility from KeyBank.
Savanna Begins $65M Acquisition, Re-Development of Downtown NYC’s 80 Broad St.
80 Broad St., near the southern tip of New York City, was just purchased by Savanna, which snagged a $65.3 million loan from Mesa West for the building’s acquisition and planned capital improvements.
Refi Alert: $56M for Honolulu Multi-Family, $47.5M for Renaissance Raleigh
Lenders are slowly becoming less shy about doling out financing loans, and the Oasis at Waipahu apartment community near Honolulu and the Renaissance Raleigh North Hills Hotel in Raleigh, N.C., have garnered an aggregate $103.5 million.
Global Report: Housing Markets Grim in U.S., U.K.
Bad news seems to beget more bad news. According to a new report by the Royal Institution of Chartered Surveyors, housing demand in the United States and in the United Kingdom is falling short of both expectations and hopes.
Economy Watch: IMF Says World Economy on Knife-Edge; Housing Starts in the Mire
The IMF released two reports, each describing how things could get worse in a hurry. According to the Census, housing starts dropped in August. And Bernanke has unveiled a new plan for short- and long-term T notes.
CBRE Facilitates 2.1 MSF Industrial Portfolio Sale
CB Richard Ellis just completed the sale of a seven-asset, 2.1 million-square-foot national portfolio consisting of 10 buildings throughout Georgia, Michigan, Minnesota, Ohio and Texas.
Houston’s CityCentre Sold by HFF, Equitized by JLL in Two Deals
In two separate deals on the same property, JLL and HFF each came away with good news: HFF closed on the sale of the 1.8 million-square-foot CityCentre II and JLL secured the equity funding for both the acquisition of CityCentre II and the development of CityCentre III.
SPECIAL REPORT: Greenburger Reveals How Time Equities Prices Real Estate
New York City real estate may be susceptible to the effects of current global economic developments, but it is likely to continue to rank among the world’s top-performing investment markets long into the future, suggested Francis Greenburger, chairman & CEO of Time Equities Inc.
Meridan Negotiates $66M Senior Mortgage for Chicago Retail Center
Meridian Capital Group L.L.C. has arranged $66 million in financing for a 178,700-square-foot shopping center in Chicago owned by Baker Development Corp. The loan was supplied by an unnamed balance-sheet lender.
RiverOak Launches $300M Retail Fund
RiverOak Investment Corp. L.L.C. is setting its sights on urban retail primed for repositioning with the initiation of a new investment vehicle, RiverOak Urban Retail Investors Fund I, with the goal of securing commitments totaling $300 million.