Finance
Post Brothers Secures $52M Loan for Philly Multi-Family
Residential developer Post Brothers has obtained a $52 million loan for Post Rittenhouse Hill L.P. to complete the redevelopment of the Rittenhouse Hill multi-family property in the Germantown section of the city. The loan was funded by an undisclosed European bank.
682 KSF Pennsylvania Office Park Gets $45M Refi
Cedar Crest Professional Park, a 682,000-square-foot professional office campus just outside of Allentown in Pennsylvania’s Lehigh Valley, has been refinanced to the tune of $45 million by MRA Realty Advisors on behalf of Cedar Crest Professional Park VII.
HFF Founders, Top Execs Join CBRE
CBRE made four huge personnel pickups: Harold Holliday, John Fenoglio, David Aaronson and James Richards will join the firm as executive vice presidents. All four will be based in the Houston office and will work on debt and equity-financing deals for clients in the region.
Glimcher Plans to Acquire Blackstone's Interest in 1 MSF Hawaii Retail Center
In a transaction valued at approximately $289.4 million, Glimcher is looking to acquire the 80 percent indirect interest in Pearlridge Center, a 1 million-square-foot shopping mall in the community of Aiea, in metropolitan Honolulu.
Enterprise, Bellwether Merge Operations
Giving both parties the ability to expand their geographic reach and product offerings, Enterprise Community Investment and Bellwether Real Estate Capital have merged into a new firm, Bellwether Enterprise Real Estate Capital, that could produce $1.5 billion in mortgages this year.
IPD Conference: Unfinished Business Hampers Cap Markets' Rebound
Real estate capital markets present a mixed bag of promise and unresolved issues left over from the Great Recession, according to the leading economists, analysts and financiers who spoke at a forum sponsored by IPD in New York City.
WNC Closes $100M Affordable-Housing Fund
WNC & Associates Inc. has closed WNC Institutional Tax Credit Fund 35, a $100 million, multi-investor Low Income Housing Tax Credit fund that will finance 18 affordable housing communities, encompassing an aggregate 1,134 residences.
$127M Loan on Cleveland Office Latest Refi Success Story
The $127 million refinance of Harbor Group International’s 200 Public Square office tower in downtown Cleveland is both one of the larger recent CRE refis and an example of the current refi trend.
D.C.'s Crystal City Submarket Sees $161M Refi for Two Multi-Family Properties
Bainbridge Cos. and The Carlyle Group have secured two loans totaling $161.4 million for the refinancing of two apartment properties in the thriving Washington, D.C. area. The assets, The Bennington and Crystal Square, encompass an aggregate 726 residences.
Kennedy Wilson, Fairfax JV on $365M European Investment Platform
Kennedy Wilson and Fairfax Financial Holdings Ltd. continue to eye commercial real estate opportunities in Europe together, this time forming a $365 million partnership to seek assets, including loans and real property.