Finance
Mesa West Closes $47M First Mortgage
The firm supplied institutional real estate firm Savanna with capital for 5 Hanover Square, a 333,000-square-foot Class B office property in Manhattan that is being repositioned.
Easton Lynd Snaps Up $62M of Notes on Distressed Assets
The Miami-based company plans to reposition the properties and decide the next step on a case-by-case basis.
Forest City Sells Stake in L.A. Apartment Complex to JV Partner CalPERS
Forest City cites an attractive 4.5 percent cap rate in its decision to sell its 50 percent share of the property, developed jointly with CalPERS.
CMBS Delinquencies Hit New Peak, but Growth Rate Slows: Trepp Report
By Paul Rosta, Senior Editor CMBS delinquencies reached an all-time high of 9.34 percent last month, but that dubious distinction may mask something of a silver lining. Although the total delinquencies may continue to tick up for a while, they are also increasing far more slowly than they were just a few months ago, according to Trepp L.L.C. “While the rate continues to head higher, optimists can point to the fact that the rate of increase is significantly smaller than it was in the prior two months,” said Marius Clancy, managing director at Trepp, in a statement accompanying the monthly…
Washington Office Building Commands $137M in Sale to Joint Venture
Carr Properties, the Canada Pension Plan Investment Board and MetLife bought the 341,433-square-foot asset from Tishman Speyer.
MBA Talks Real Estate Finance
The Mortgage Bankers Association shared its annual assessment of the commercial real estate industry during its recent State of the Real Estate Finance Industry media conference call, during which the association also discussed its legislative and regulatory agenda. So what’s going on in the commercial real estate finance industry? In a nutshell, uncertainty about jobs and the economy.
Economy Watch: New Lows for Home Starts; SEC to Adopt New Rules
U.S. home starts dropped in December by 4.3 percent, Sheila Bair made new proposals regarding mortgages and the Securities and Exchange Commission is poised to adopt new rules.
Harrison Street Launches Securities Division
The acquisition of Transwestern Securities Management, a division of Transwestern Investment Co., brings the firm to a combined assets under management of more than $2.7 billion.
Brookfield Closes on Sale, $120M Financing of Chicago Office Building
Brookfield Asset Management sold 300 S. Riverside Plaza, a Class A office building in Chicago’s West Loop submarket.
Meridian Nails Down $200M in Financing for NYC Tower
After being lost by high-profile real estate investor Harry Macklowe in a foreclosure auction, 1330 Avenue of the Americas is being refinanced by its new owner.