Finance
ULI Report: Bair, Housing Experts Consider Government, Bank Roles
Opening keynote speaker Sheila Bair and a panel of housing experts offered a mixed view of government and lender involvement during the first general session of the Urban Land Institute Fall Meeting on Wednesday.
HFF Arranges $80M in Financing for New York’s Puck Building
Listed on the National Register of Historic Places, the Puck Building was originally built in 1885 and was the headquarters of satire publication Puck Magazine.
Bandolik Returns to Deloitte, Joining Growing Distressed Debt and Asset Practice
Hired as a director with Deloitte Financial Advisory Services L.L.P., Bandolik contributes a background in real estate investment, accounting, investment banking, capital fundraising and debt placement, a combination of skills he views as ideal for advising investors, borrowers and lenders in today’s difficult economy.
Lennar Wraps Up $740M Acquisition of Distressed Real Estate Assets
All told, 35 percent of the assets are commercial, with the remaining portion accounting for residential assets. The financing portion of the portfolio includes a group of 397 loans consisting predominantly of non-performing residential and commercial acquisition, development and construction loans.
HFF Closes $35M Mezzanine Loan for Mutual Life
The property consists of 1.2 million square feet of Class A office space in Midtown Manhattan, occupying an entire block.
Brookfield Closes $2.7B Americas Infrastructure Asset Fund
As it turns out, Brookfield Asset Management underestimated investors’ interest in infrastructure . The Toronto-based property and infrastructure asset manager has just closed Brookfield Americas Infrastructure Fund L.P. with $2.7 billion in commitments–a far cry from the company’s original $1.5 billion target for the fund, which will seek high-quality infrastructure assets across North and South America.
USAA Buys 1.4 MSF Memphis Industrial Portfolio, Continuing Shopping Spree
USAA Real Estate Co. has been bulking up its portfolio all summer, and it appears the activity is going to continue right into the fall. US Industrial REIT III, owned by affiliates of USAA and a group of institutional investors, just acquired a 1.4 million-square-foot industrial portfolio at Chickasaw Distribution Center in Memphis.
Economy Watch: Real Estate Unimpressed with Recession’s End
The nation and the real estate industry seemed unimpressed on Monday by the news that the period lately known as the Great Recession was deemed to have ended in June. June 2009, that is–small wonder no one noticed back then.
Teacher Retirement System of Texas Invests in USAA’s $546M Government Building Fund
With the system’s participation, the fund’s equity commitments now total $546 million, with the total size expected to reach $1 billion.
HFF Arranges $114M for Six-Property Industrial Portfolio
The facilities are located in Georgia, Illinois, Ohio, Pennsylvania and Texas and total 4.7 million square feet.