Finance
SPECIAL REPORT: Real Estate Companies See Strong Markets Despite High Unemployment Levels
Speakers at the National Association of Real Estate Investment Trusts’ annual convention addressing the state of the economy cited improving sector fundamentals, “unprecedented” availability of capital for REITs, as well as a possibility for interest rates to rise and cap rates to fall further in the future.
Sperry Van Ness Enters Commercial Loan Sales Arena
The latest firm striving to capitalize on distressed asset sales, Sperry Van Ness has partnered with loan sale advisory services provider Benewolf.
Grubb & Ellis 2011 Forecast: Slow Clearing
A steady, though often grindingly slow, recovery, improved access to capital and vexing valuation challenges await in 2011, according to Grubb & Ellis Co.’s industry forecast.
$80M Charleston Place Loan One of This Year’s Largest Single-Asset Financings
According to real estate investment banking firm Sonnenblick-Eichner Co., which orchestrated the loan on behalf of Orient-Express Hotels Ltd., the deal marks one of the largest single asset bank financings for a hotel property year to date.
Apollo Buys Citi Property Investors
While the deal’s financials are not being released, Citi had more than $3 billion in assets under management as of June 30. Apollo and Citi signed a purchase agreement in May.
Financing Closes for Chicago’s $125M Radisson Blu Aqua Hotel
Acting on behalf of Magellan Development Group L.L.C. and Carlson Hotels, commercial real estate services firm Holliday Fenoglio Fowler orchestrated $66 million in financing for the development of the upper upscale Blu Aqua Hotel in downtown Chicago’s 82-story mixed-use Aqua Tower.
Brookfield Nails Down $800M Refinancing for Manhattan’s 245 Park Ave.
The Bank of China has provided Brookfield Office Properties with one of the largest recent loans in Manhattan.
CWCapital Closes $388M Apartment Refinancing Package in Largest LIBOR SWAP Deal of 2010
Financing for the portfolio of luxury apartment properties, made available through CWCapital’s Agency Lending Group, came in the form of four cross-collateralized loans with 10-year terms.
Edge, HAIL Invest $254.8M for 49 Percent Stake in 1540 Broadway
Also known as the Bertelsmann Building, 1540 Broadway stands 42 stories tall in the heart of Times Square in Midtown Manhattan.
Midterm Elections: Two Years Later, More Change is in the Air–Or Not
When the 111th Congress met in January 2009, the Democrats had it all–the House of Representatives and the Senate, not to mention the Executive Office. But when the 112th Congress meets in January 2011, it’s going to look a little bit different.