Finance
Belay Investment JV Bets $70M on Portland
Belay Investment Group and L&L Investment Partners plan to purchase and reposition Portland office, multifamily and mixed-use properties. As its first investment, the JV acquired an asset comprising two 1940s-era warehouses in the city’s Guild’s Lake submarket.
NorthMarq Capital Buys SLC Mortgage Banking Firm
The Utah-based Western Capital Realty Advisors has completed more than $4 billion in commercial real estate debt and equity transactions. This acquisition marks NorthMarq’s 37th office.
Natixis Provides $35M Financing for Retail Center Acquisition
Colliers International arranged the financing used for the purchase of a 276,333-square-foot shopping center in Arlington Heights, Ill. The loan will be granted in two tranches.
Santa Ana Office Park Trades for $32.8M
Benchmark Holdings purchased Alton Deere Plaza from TA Associates Realty. At the time of sale, the two-building, 185,245-square-foot property was 96 percent occupied.
Houston Office Tower Lands $164M Refi
JLL’s Tom Melody and John Ream procured the mortgage on behalf of the joint venture ownership, while Goldman Sachs provided the financing.
Will Lenders Roll Out the Welcome Mat for Hotel Investors?
Insights on what’s ahead for the hospitality sector in the capital markets, from a finance veteran and president of the Continental Partners mortgage banking firm.
Disneyland-Area Sheraton Lands $21M Financing
Continental Partners has secured a five-year, fixed-rate loan for the 285-key Sheraton Garden Grove-Anaheim South Hotel. The financing will also serve to pay off a mezzanine loan.
Non-Traded REITs: Go Mainstream or Die
Fundraising for the sector fell in 2016 due to the combination of impending regulatory changes and lackluster performance, notes Yardi Matrix Associate Director of Research Paul Fiorilla. The sector must continue to lower fees and improve liquidity to attract new investors.
Texas Shopping Center Lands $13M Refi
JLL secured the loan for Forum at Soncy, a 64,914-square-foot, Class A retail center in Amarillo. The retail asset is currently 93 percent leased.
DDR, Madison International Recap $1B Retail Portfolio
The joint venture refinanced 52 grocery-anchored shopping centers totaling 7 million square feet. The properties are predominantly located in Florida and elsewhere in the Southeast.