Finance
Sabal Capital Names New President, COO of Lending
A veteran real estate finance executive, Jason Pendergrist joins the firm from Banc of California, where he served as executive vice president & head of real estate and commercial banking.
Samitaur Constructs Obtains $232M for Creative Office Portfolio
Square Mile Capital Management LLC and Deutsche Bank originated the financing for the company’s 319,000-square-foot collection of assets in Culver City, Calif.
LA Hotel Redevelopment Lands $51M Financing
HFF worked on behalf of Oceans V to obtain the construction loan, which will help transform a vacant office building into a 180-key Cambria Hotel & Suites.
Square Mile Provides $161M Loan for NYC Office Tower
Borrowers Rockwood Capital and Midtown Equities utilized the financing for the acquisition and repositioning of One Broadway, a 253,000-square-foot, landmark building in downtown Manhattan.
Ares Management Closes $1B Fund
The firm’s ninth investment vehicle is significantly larger than the fund that closed in 2014, on the strength of support from both current and new investors.
Denver-Area Office Towers Land Refis
Located south of downtown Denver, the two assets add up to more than 200,000 square feet. Situs Enterprises bought the properties in 1995 and 1997.
Starwood Capital Lends $12M for Vegas Office Asset
The financing is for Southern Highlands Corporate Center, Olympia Cos.’ headquarters, a Class A building encompassing roughly 71,500 square feet.
How Will the California Wildfires Impact CRE?
DBRS’ Gwen Roush and Seth Weissman of Jeffer Mangels Butler & Mitchell address the impact of such disasters on property owners, lenders and insurers.
CIT Group Provides $29M Loan for Boston-Area MOBs
Chestnut Healthcare Partners is the new owner of the buildings. Signature Healthcare Brockton Hospital and Anna Jaques Hospital occupy the two assets.
Manhattan Office Deal Tops SL Green’s Big Day
The office REIT’s biggest news was its entrance into the hot Hudson Yards market, with the purchase of a $440 million property located at 460 W. 34th St.