Category : Banking and Finance

Banking and Finance

China Construction America lands $53M for office purchase

REW
by REW2305
CBRE’s Debt & Structured Finance team announced the closing of a $53.6 million loan secured by 445 South Street in Morristown, New Jersey. Morgan Stanley provided the 10-year, interest-only loan to Strategic Real Estate LLC to finance the sponsor’s prior all-cash acquisition of the office complex. Strategic Capital is the...
Basis Investment commingles $410M
Banking and Finance

Basis Investment commingles $410M

REW
by REW2023
Basis Investment Group, a national investment platform founded by Tammy Jones, held the final closing of its first commingled, closed-end Fund, BIG Real Estate Fund I, L.P. Basis raised $410 million of capital commitments for the Fund, which was oversubscribed. The Fund is a successor vehicle to seven prior joint...
Banking and Finance

Rockefeller throws its weight into Opportunity Zone program

REW
by REW2151
The Rockefeller Foundation announced an initiative to help U.S. cities attract responsible private investment in economically-distressed communities through Opportunity Zones created in the 2017 Tax Cuts and Jobs Act. The effort will help ensure new investment delivers sustainable benefits for more than 30 million low-income Americans living in Opportunity Zones....
MetLife Pentagon deal
Banking and Finance

MetLife Pentagon deal

REW
by REW2088
MetLife Investment Management arranged a loan for $126.9 million for Meridian at Pentagon City. Meridian at Pentagon City is a two tower, high-rise multifamily property totaling 534 units located two blocks from the Pentagon City Metro station with access to major commuter thoroughfares connecting downtown DC and northern Virginia. Derrick...
HAP bags $107M for new condo
Banking and Finance

HAP bags $107M for new condo

REW
by REW1830
Cole Schotz advised G4 Capital Partners on a $94 million loan to HAP Investments for construction of a 41-unit condominium in Tribeca. The complex will be located at 65 Franklin St., which is currently home to a five-story building set for demolition. In addition to residences, the new 19-story building...
Princeton Properties secures $164M to refinance multifamily portfolio
Banking and Finance

Princeton Properties secures $164M to refinance multifamily portfolio

REW
by REW3577
PGIM Real Estate Finance has provided a $164 million Fannie Mae loan for the refinancing of the Princeton Portfolio, a 14-property multifamily portfolio spanning the Boston metropolitan area and suburban New Hampshire. PGIM Real Estate Finance is the commercial mortgage finance business of PGIM Inc., the $1 trillion global investment...
Cronheim inks storage bridge loan
Banking and Finance

Cronheim inks storage bridge loan

REW
by REW1526
Cronheim Mortgage secured a bridge loan for a self-storage facility in Michigan which is to be fully renovated. The property is a shopping center with a vacant Kroger grocery store and a Dunham’s Sporting Goods store. There is also a Logan’s Roadhouse on a ground lease as well as a...
PGIM funds $200M refi for Resnickʼs 315 Hudson Street
Banking and Finance

PGIM funds $200M refi for Resnickʼs 315 Hudson Street

REW
by REW1956
PGIM Real Estate Finance has provided a $200 million refinancing loan to Jack Resnick & Sons for 315 Hudson Street. PGIM Real Estate Finance is the commercial mortgage finance business of PGIM Inc., the $1 trillion global investment management business of Prudential Financial, Inc. The 10-year, fixed-rate loan will be...
CPC closes senior housing loan
Banking and Finance

CPC closes senior housing loan

REW
by REW1037
The Community Preservation Corporation (CPC), Project FIND, the Joint Ownership Entity New York City (JOE NYC), and the NYC Department of Housing Preservation and Development (HPD) announced the closing of a $6 million Fannie Mae Multifamily Affordable Housing (MAH) loan to finance the rehabilitation of The Hargrave House, a 113-unit,...
Banking and Finance

Funding package leads to new senior housing development in The Bronx

REW
by REW2295
Governor Andrew M. Cuomo announced the opening of Tres Puentes Senior Apartments, a $117.7 million affordable senior housing development in the South Bronx. The development includes 175 apartments for seniors and individuals with special needs and 10,000 s/f of health-orientated commercial and community space, and expands the existing Borinquen Court...