Finance
Embracing Changes in the Commercial Insurance Industry
The forward-looking technology landscape and the growing regulatory environment are reshaping the vital ways in which insurance companies engage with customers, especially in the U.S., the largest insurance market in terms of premium dollars in the world. Adjusting to changes is the answer for Franklin Street Insurance Services Director Ted Holler.
Rees Properties Acquires Redwood City Office Asset for $32M
HFF marketed the sale on behalf of Griffin Capital, who acquired the property in 2007 for $24 million from DPR Construction. The sale of 1450 Veterans Blvd. was subject to a $17.9 million loan held by Northern Trust.
Meritex Snags 300 KSF Industrial Property
1080 Park Place in Shakopee, Minn., was built in 1993 by The Opus Group and boasts full occupancy. Steve Dorff, senior asset manager with Meritex, will manage the property.
Kroger-Anchored TX Shopping Center Lands $19M Loan
Metropolitan Capital Advisors Ltd. has arranged a construction loan for the second phase of the Prosper, Texas, shopping center. The 70 percent loan-to-cost financing features a fixed rate of 4.5 percent.
SL Development Secures $54M Loan for Williamsburg Warehouse Buy
Madison Realty Capital arranged the financing for the firm’s acquisition and upcoming development of a 90,000-square-foot mixed-use building in Brooklyn’s Williamsburg neighborhood. The redevelopment is slated for completion in July 2019.
1031 Exchanges: To Be or Not to Be Eliminated?
The pressure to reduce rates and find revenue offsets has put 1031 exchanges on the chopping block as part of the Trump administration’s potential tax reform. But some experts believe that the likelihood of a repeal is low.
Atlanta Mixed-Use Property Sells for $21M
The nine-building asset, which encompasses office, showroom, retail and warehouse space, is located along a strong office and retail corridor in the metro’s North Fulton submarket.
Hunt Mortgage Expands to Phoenix, Hires New VP
Matthew Frank was named vice president of the company’s Small Balance Loan Group, where he will be responsible for sourcing and closing Freddie Mac small balance loans.
NGKF Scores $59M Refi for Greenwich Village Assets
Owners Quality Capital and Caerus Group plan to renovate and expand the three adjoining buildings. NGKF Capital Markets’ Jordan Roeschlaub and Daniel Fromm brokered the loan.
Chicago CBD Asset Changes Ownership After 22 Years
Baum Realty Group brokered the sale of a boutique, mixed-use building at 6-8 S. Clark St., which has been under Wendy’s ownership since 1995.