Finance
Getting Green to Go Green
While office buildings consume 19 percent of U.S. energy, according to the American Council for an Energy-Efficient Economy, other sectors are also seeking retrofit financing. But some property types are easier to finance than others.
Integrated Health Campus Lands $53M Mortgage Financing
HFF’s debt placement team secured a 10-year, fixed-rate mortgage for the owners of a 10-year-old medical office building property in Allentown, Pa.
How CRE Fundraising Is Changing and Why
Real estate continues to be an attractive asset class to both domestic and foreign investors, but industry experts admit there is simply too much money chasing too few deals. Jason Burian, partner in CohnReznick’s Commercial Real Estate Industry practice, explains why this situation is driving significant changes in the fundraising environment.
NewMark Merrill Secures $62M Refi for CO Retail Asset
After a five-year redevelopment process, the shopping center opened and was more than 90 percent leased. The property is leased to approximately 40 retailers.
NJ Lifestyle Center Lands $44M Refi
HFF’s debt placement team arranged the 10-year, fixed-rate loan through Principal Commercial Capital. The Grove at Shrewsbury features 35 high-end tenants.
M-M Properties Lands Refi Loan for Houston Tower
Designed by Phillip Johnson and John Burgee, the 56-story, 1.2 million-square-foot 700 Louisiana is currently 90 percent leased. HFF secured the loan on behalf of the borrower.
Faros Lands $128M for 2 Pittsburgh Office Assets
HFF secured a five-year, floating-rate loan through Wells Fargo. The financing will be used for Nova Place, a 1.3 million-square-foot development, and 106 Isabella, a nearby vacant building.
McKnight Realty Lands $42M in Pittsburgh Office Refi
HFF secured a first mortgage loan through Starwood Mortgage Capital and a mezzanine loan through Morrison Street Capital for a Class A office tower located in the city’s central business district.
Portland Historic Office Buildings Change Hands
NBP Capital acquired the Blagen Block and the New Market Theater in Portland’s CBD. The two buildings are among the few remaining Victorian Italianate buildings in the city.
JV Secures $73M for NYC Redevelopment
APF Properties and Drake Street Partners tapped CBRE to arrange acquisition and redevelopment financing for 163 Varick St. in Manhattan.