Finance
Nothing But Net
As the net lease sector continues to take on its own asset class presence, investors and lenders are increasingly putting their capital into the property type, especially single-tenant, triple-net leased properties. Net lease owners with investment-grade tenants in place are most attractive to investors, but a lack of available inventory is leading some lenders to widen their options.
H.I.G. Closes $600M Real Estate Fund
The fund’s general partner and related parties were among the list of contributors, as was a $52 million co-investment vehicle. Fund III, launched in June 2015, has so far amassed a portfolio of eight assets accounting for 20 percent of the commitments.
Morrison Raises $200M for Mezzanine Debt
The fund provides small-balance mezzanine capital, with investment balances typically ranging from $2 million to $10 million, to CRE market participants across diverse property types in the top 100 MSAs nationwide.
Palm Beach-Area Retail Asset Lands $46M Refi
The Class A, 120,000-square-foot PGA Plaza Shopping Center is owned by an affiliate of Menin, The property last traded in 2003.
Houston Office Asset Lands $8M Refi
A crowdfunding real estate platform originated the 18-month mortgage to improve the overall returns and marketability of the property.
LA Retail Asset Lands $29M in Financing
HFF represented the borrower in securing the two-year, fixed-rate loan for the acquisition of a 244,000-square-foot retail structure anchored by Macy’s.
How to Handle the CMBS Refinancing Challenge
Daniel Martin, partner at McDermott Will & Emery, discusses the wall of CMBS maturities coming due this year and his outlook for the CRE lending market.
Fort Lauderdale Office Asset Trades for $14M
Cushman & Wakefield represented the seller and secured acquisition financing on behalf of the buyer. The loan will fund leasing costs and future capital improvements.
Manhattan Office Asset Lands $200M Recap
Silverstein Properties has acquired a majority interest of 619 West 54th St.. The company partnered with Taconic, which purchased the Hell’s Kitchen asset five years ago.
Hunt Mortgage Launches New Lending Product
The company has allocated $300 million for a new fixed-rate financing program that will enable conduit borrowers to access loans between $7.5 million and $25 million.