Finance
Cole Nails Down $156M Financing for Microsoft’s Bing Headquarters
According to Cole senior vice president of structured finance Matthew Donnelly, there was a highly competitive atmosphere for the debt on the property, allowing for favorable rates and terms.
USAA Completes $546M in Fundraising for U.S. Government Building Fund
The fund owns assets of 1 million square feet and is continuing to target core Class A assets. Its target value is in excess of $1 billion.
MBA: Wells Fargo Top U.S. Commercial, Multi-Family Servicer in Terms of Volume
With $462.8 billion in United States master and primary servicing, Wells easily came in first, followed by PNC Real Estate/Midland Loan Services with $307.9 billion, Berkadia Commercial Mortgage with $202.6 billion, and Bank of America Merrill Lynch with $133.4 billion.
IPD: Real Estate Slump Receding
The Investment Property Databank’s U.S. Quarterly Property Index shows that commercial real estate markets have emerged from a two and a half year slump.
Canyon-Johnson Urban Funds Tapped for $22.6M to Complete Brooklyn Condo Project
To complete the project, OL Washington will retain current general contractor Triton Construction Co., along with hiring residential brokerage The Corcoran Group to market the units upon completion.
Sterling to Raise $730M in Capital
The agreement is part of Sterling’s major recapitalization plan.
Economist’s View: Get Ready for a Robust Job Recovery
We believe the United States will gain 3 million to 3.5 million jobs a year in each of the next three years.
HFF Arranges $79M Refinancing for Miami’s Shops at Sunset Place
The open-air Miami mall is located near U.S. Route 1 in the city’s southern area.
General Growth Says Blackstone Plans $500M Investment
General Growth filed for bankruptcy in April 2009. At the time, it listed assets of $29.6 billion and debts of $27.3 billion. Earlier this year a consortium of Blackstone, The Fairholme Fund and Pershing Square Capital Management said they would provide as much as $8.5 billion to finance the company’s bankruptcy emergence.
Jobless Claims on Rise
The Department of Labor said Thursday that seasonally adjusted jobless claims were up to 500,000 in the week ending Aug. 14, up 12,000 from the previous week.