Finance
JLL Secures $48M in CTL Financing
Jones Lang LaSalle’s Capital Markets team has secured $48 million in Credit Tenant Leasing financing from a foreign institutional investor for an industrial and bus maintenance complex in Newark, N.J., owned by Hartz Mountain Industries Inc.
Cantor Commercial Snags Freddie Mac Veteran May for Lending Business
Cantor Commercial Real Estate has snagged former Freddie Mac multi-family exec Michael May as the newest member of its multi-family team.
Behringer Harvard, Prospect Capital Launch Investment JV
With an eye toward tackling the challenges posed by the plethora of low-yielding fixed-income vehicles in the current financial environment, Behringer Harvard Holdings L.L.C. and Prospect Capital have teamed up on the launch of a new venture.
RREEF Details $290M Investment in Manhattan Retail Condo
The mezzanine loan underscores the investment management firm’s record of pursuing blue-chip retail properties in Manhattan.
Tishman Refinances Renowned French Office Tower for $571M
Lenders are not exactly generous with loans these days, but they are shining their light upon certain properties, and Tishman Speyer’s Lumière Building in Paris is one of them.
Economy Watch: Growth Trudges Along at 1.5%; Apartment Vacancies Drop Nationwide
The U.S. economy expanded by a tepid 1.5 percent during the second quarter of 2012, according to Friday’s preliminary report by the Department of Commerce. The vacancy rate for rental housing dropped 0.6 percent from last year’s second quarter.
SL Green Sells Half its Interest in 717 Fifth Ave. to JV Partner Jeff Sutton
In a transaction that released $85 million in net cash proceeds, SL Green Realty Corp. restructured and recapitalized its joint venture at 717 Fifth Avenue in New York City.
Federal Capital Partners Closes CRE Fund with $1.5B in Buying Power
Opportunities in the multi-family, office, retail and industrial sectors will be the focus of Fund II, which, when leveraged, will allow for a total of approximately $1.5 billion of investments.
Equity International Sells Stake in Brazilian Holding Company
Chicago-based Equity International is focusing its South American investment strategy on multiple asset categories in Brazil and Colombia.
Blackstone Buys 15 Retail Centers from Regency for $321M
Regency Centers Corp. has agreed to sell 15 shopping centers in seven states to an affiliate of Blackstone Real Estate Partners VII for $321 million.