Finance
CMBS Loans in Special Servicing to Hit 15% in 2010: Fitch Report
The value of problem CMBS loans in special servicing will hit $110 billion by the end of the year, Fitch Ratings estimates.
Cantor Fitzgerald, CIM Unveil New Mortgage Banking Venture
Cantor Fitzgerald and CIM Group disclosed today that they are joining forces in Cantor Commercial Real Estate (CCRE). The new enterprise is aiming for $5 billion in annualized loan production for starters.
Suburban D.C. Property Refinanced for $43.5M
Rosslyn Metro Center in Arlington, Va., has been refinanced to the tune of $43.5 million, according to the Washington, D.C. office of Holliday Fenoglio Fowler (HFF) L.P., which oversaw the deal.
CommonWealth REIT Scores $750M Unsecured Credit Facility
Less than two weeks before an existing facility was to mature, the Newton, Mass.-based office and industrial REIT obtains a $750-million facility from an international consortium of banks.
JP Morgan Chase Buys $3.5B Loan Portfolio from Citibank
JPMorgan Chase closes on the acquisition of a $3.5 billion portfolio of 3,800 performing multi-family and commercial real estate loans from Citibank.
Boyd Gaming JV Closes $950M Borgata Hotel Casino Debt Financing Deal
Marina District Development Co., the Las Vegas-based 50/50 joint venture that owns the Borgata Hotel Casino and Spa in Atlantic City, N.J., has wrapped up debt financing totaling $950 million.
Freddie Mac Asks for More Federal Funds as Fate of GSEs Discussed in Washington
Freddie Mac’s request for $1.8 billion to sustain its reserves through the next quarter may have followed on sister Fannie Mae’s bid for its own fresh multibillion-dollar infusion, but in the scheme of things it amounts to barely a drop in the bailout bucket.
Canyon-Johnson Equity Paves Way for New Baltimore-Area Mixed-Use Project
The Oxford Square transit-oriented development project in Hanover, Md., just got a substantial boost–in the form of preferred equity capital totaling $17.5 million from Canyon-Johnson Urban Funds. And while mixed-use projects are hardly rare in the area today, BRAC promises to increase demand in the near future.
Economy Watch: V-Shape Recovery Flattened Out by Unusual Uncertainty
No one’s predicting a V-shaped recovery anymore–unless they’re saying the right half of the V has been run over by a truck.
$342M Financing Package Moves Plans Forward for Ritz-Carlton Resort in Puerto Rico
It may be tough to attract financing today to hotel resort ventures–especially hundreds of millions in development financing–but the Ritz-Carlton Reserve, Dorado Beach Resort & Spa project in Dorado, Puerto Rico, is an exception.