Finance
JV Lands $47M Loan for DC Office Portfolio
Coretrust Capital Partners and Normandy Real Estate Partners tapped HFF to secure financing for the 185,671-square-foot Reston Metro Center One & Two. The floating-rate loan was provided by AllianceBernstein.
CRE Financing: More Regulation, Non-Bank Lending
Triple Net Financial’s Brandon Johnson weighs in on the challenges in commercial real estate financing, the impact of regulations on potential growth and which markets are still ripe for retail development.
Capital One Provides $311M to Recap MOB Portfolio
The financial services company came through for the borrowers—an institutional investor and a joint venture between Kayne Anderson Real Estate Advisors and MB Real Estate Healthcare—arranging two loans for the recapitalization of 28 medical office buildings totaling 1.5 million square feet.
DC-Area Office Asset Lands $33M Loan
The six-story property is close to Twinbrook Metro Station and last underwent thorough renovations in 2004. The current owner bought the building in 2005 from JBG Cos.
Ft. Lauderdale-Area Retail Center Changes Hands
David Donnellan and Patricia Friend of CBRE’s South Florida Retail Investment Properties team assisted the seller in the transaction. Florida Credit Union originated the acquisition financing.
177 KSF San Diego Office Asset Lands Refi
Working on behalf of Cruzan, CBRE secured a $41.2 million senior loan for the refinance and lease-up of creative office asset Make in Carlsbad, Calif.
Clarion Partners Lands $105M for LA Industrial Facility
HFF arranged a floating-rate loan with a foreign bank for The Brickyard, a two-building, one million-square-foot property located in Compton, Calif.
Phoenix Ritz-Carlton Hotel and Residences Lands $282M
HFF arranged a $210 million senior land and construction loan with Bank of the Ozarks, as well as $72 million in mezzanine financing with Starwood Property Trust Inc.
CIT to Leave Reverse Mortgage Business
The sale of Financial Freedom, CIT’s reverse mortgage servicing business, and its $900 million portfolio is expected to close in the second quarter of 2018.
Gramercy JV Buys 280 KSF Inland Empire Office Building
Working on behalf of Founders Properties, NKF brokered the sale of Northpointe in San Bernardino. TPG Capital teamed up with Gramercy Property to purchase the five-story asset.