Finance
Loan Losses for Life Insurers to Outpace 2007-2008: Fitch
Coronavirus-related loan shortfalls could rise 50 percent above the levels seen during the Global Financial Crisis, according to Fitch Ratings.
Swift Real Estate Pays $72M for Seattle Office Asset
The Class A property last changed hands in late 2008 for $47 million.
Sotheby’s New York HQ Obtains $483M Refi
The owner-occupied, 506,000-square-foot office building recently underwent renovations.
Cushman & Wakefield Brokers Phoenix Office Deal
Executive Managing Director Eric Wichterman and Managing Director Mike Coover represented the seller in the nearly $17 million disposition.
JV Lands $73M Bridge Financing for Orlando Tower
With help from Berkadia, Lincoln Property Co. and its partners secured the metro’s largest loan for a single asset and the third largest in Florida this year.
First Close of GLP’s European Logistics Fund Yields $1.3B
The global investment manager’s second pan-European investment vehicle attracted equity commitments from both new and repeat participants.
Colorado Mobile Homes Receive $5M Loan
The Fannie Mae financing, arranged by Hunt Real Estate Capital, will retire acquisition debt on Blue Spruce Mobile Home Park in Berthoud.
Lehigh Valley Warehouse Project Lands $35M
Provident Bank originated the three-year development loan for J.G Petrucci Co. and PGIM Real Estate.
New Phoenix Storage Facility Lands $22M Refi
The new note replaces an $11.1 million development loan from Metro Phoenix Bank.
FEMA’s Largest Infrastructure Grant Awarded to Puerto Rico
Puerto Rico is estimated to receive nearly $13 billion destined to help rebuild its electrical grid system and drive the recovery of the local education system.