Finance
Deloitte Symposium Waxes Positive
The general consensus was that the economy, while on a slow path of recovery with the addition of 250,000 jobs each month, is showing signs of life, though not necessarily a strong return.
PREI Breaks New Ground with Debt Fund
Prudential Real Estate Investors has completed Pramerica Real Estate Capital I, an $800 million, closed-end investment vehicle that will supply financing for deals involving European commercial real estate properties.
Fannie Mae Reveals Top Multi-Family Lenders
Performance hit a higher level in 2010, with each of the 10 lender partners each contributing a minimum of $870 million in loan volume, compared to 2009’s minimum of $700 million.
Woods Joins Red Capital as Director
Gary Woods has three decades of experience in mortgage finance and acquisitions. His background includes stints with Bridger Commercial Funding, NorthStar Realty Finance and Washington Mutual.
Broadway Partners to Recap 450 W. 33rd St.
The 1.6 million-square-foot Class A office building is located two blocks from New York’s Penn Station and includes tenants such as The Associated Press and New York Daily News.
JLL Nails Down $42M Loan for Houston Office Asset
The mortgage was procured with regard to 919 Milam, a 542,919-square-foot Class A office building in the city’s central business district.
When Financial Distress Leads to Physical Distress
In recent months, it appears that lenders, debtors and investors have begun to deploy some of the “dry powder” capital that has been sitting on the sidelines. However, the practice of amend and extend has meant that some of these assets have been sitting dormant or physically unprotected for long periods of time. The lack of TLC can lead to hidden problems. That necessitates increased due diligence, with careful attention paid to the debt structure, market valuation and physical characteristics of the property.
Commercial Real Estate Update: A Tale of Two Markets
With property values rebounding, greater availability of debt financing and a slew of significant recently completed merger-and-acquisition and individual property transactions, commercial real estate investors might be tempted to believe that a robust market recovery is underway. However, a closer look reveals a highly bifurcated market with enough potential future roadblocks to cause investors concern.
Madison Gets 50 Percent Interest in Retail Center
Bridgeport Marketplace, a 126,769-square-foot, mixed-use asset, is located in the Southern California city of Valencia.
Savanna Investment Wields $1B of Buying Power
The firm just completed the final closing of its second real estate private equity fund, Savanna Real Estate Fund II L.P., with approximately $550 million of total equity commitments, marking a significant premium over the $400 million target.