Finance
Downtown Atlanta Office Asset Commands $50M
The CBRE team of Justin Parsonnet, Jay O’Meara, Will Yowell and Ryan Reethof worked on behalf of the seller in the transaction.
Aztec Group Secures $20M Loan for FL Boutique Hotel
The firm worked on behalf of Newgard Development Group. The financing will be used for the construction of The Gale Boutique Hotel, a 96-key lodging project in Fort Lauderdale.
Eastern Consolidated Arranges $121M Financing for NYC Hotel
The real estate firm orchestrated a $97.5 million first mortgage and a $23.9 million mezzanine construction loan for the McSam Hotel Group’s development of a dual-branded, 526-key lodging project in Chelsea.
Talonvest Secures $27M to Finance 3 Acquisitions
The company secured three separate bridge/acquisition loans for two Chicago facilities and a three-property portfolio in Western Michigan on behalf of Devon Self Storage.
NY Health Care Center Receives $24M Financing
Greystone provided the HUD-insured loan for The Willows at Ramapo Rehabilitation and Nursing Center, the largest subacute community in Rockland County.
Mid-Rise LA Office Building Changes Hands
Curo Enterprises sold a 74,000-square-foot office property in North Hollywood, Calif., to Swift Real Estate Partners. The transaction was subject to an $18.8 million acquisition loan.
Aon Acquires The Townsend Group
With this purchase, the company’s investment organization now manages more than $130 billion of worldwide assets. Morgan Stanley & Co. served as the seller’s financial advisor.
HFF Closes Financing for 7-Building Denver Industrial Park
The company placed a $11.2 million acquisition loan on behalf of the borrower, The Bendetti Co. The property is situated 23 miles from Denver International Airport.
Manhattan’s New Mondrian Hotel Gets Refi
An HFF team arranged the floating-rate loan with JPMorgan Chase Bank, N.A., on behalf of Moin Development Corp., sponsor of the 190-key luxury property. Proceeds were used to refinance the construction loan.
Real Estate Financing: What to Expect in 2018
Essex Realty Group’s Douglas Fisher summarizes the evolution of the real estate market in 2017 and sets the direction for the coming year.