Category : Banking and Finance

Tax saving transactions every broker should know about

REW March 4, 2020 March 4, 2020

by REWMarch 4, 2020March 4, 20204963

By Jahn S. Brodwin & Scott Drago, FTI Consulting, Inc. High-value real estate deals bring high-dollar tax liability, driving commercial property owners to seek ways to minimize tax burdens. Brokers who are aware of the tax advantages of certain property dispositions and restructuring opportunities can provide greater value to clients...

Banking and Finance Debt & Equity

Arbor funds Fannie Mae loan for cash out refi’

REW March 4, 2020 March 4, 2020

by REWMarch 4, 2020March 4, 20202095

Arbor Realty Trust funded a $19 million Fannie Mae Streamlined Rate Lock (SRL) loan in Santa Monica, CA. The refinance cash-out deal for this 34-unit luxury apartment complex features 10 years full term interest only. Garth Davis of Arbor’s San Francisco office originated the deal. “This deal was unique in...

Banking and Finance Debt & Equity

NKF arranges $30M Coachella retail transaction

REW March 4, 2020 March 4, 2020

by REWMarch 4, 2020March 4, 20202783

On behalf of a joint venture between DRA Advisors and Paragon Commercial Group, Newmark Knight Frank has arranged a $30 million floating-rate loan for the refinance of Rancho Las Palmas Shopping Center in Rancho Mirage, California. The Newmark Knight Frank team was led by Vice Chairmen and Co-Heads of Debt...

Banking and Finance Debt & Equity Green Building

Greystone provides $36M HUD loan for green development

REW March 4, 2020 March 4, 2020

by REWMarch 4, 2020March 4, 20204593

Greystone provided a $36.4 million HUD-insured construction loan under the HUD 221(d)(4) program to Grubb Properties LLC for the development of Link Apartments 4th Street, a new 224-unit multifamily apartment community located at 501 W. 4th Street in Winston-Salem, NC. The transaction was originated by Paul Fried of Greystone Capital...

Banking and Finance Debt & Equity

Normandy Opportunity Zone Fund borrows $20M

REW March 4, 2020 March 4, 2020

by REWMarch 4, 2020March 4, 20202230

JLL Capital Markets arranged $20.5 million in financing for the acquisition of The Ashton, a newly completed, 93-unit, Class A apartment project in Jersey City, New Jersey. JLL worked to secure the two-year, floating-rate loan through Rialto Capital Management on behalf of the borrower, Normandy Opportunity Zone Fund, LP, a...

Banking and Finance Debt & Equity

JLL arranges warehouse construction deal

REW March 4, 2020 March 4, 2020

by REWMarch 4, 2020March 4, 20203649

JLL Capital Markets arranged $16.76 million in construction financing for the development of a 340,000 s/f Class A speculative warehouse/distribution center in Lawrence Township, New Jersey. JLL worked on behalf of the developer, Penwood Real Estate Investment Management, LLC and Metrix Real Estate Services LLC, to secure the three-year construction...

Banking and Finance Debt & Equity

Voya Investment funds Brooklyn multifamily loan

REW March 4, 2020 March 4, 2020

by REWMarch 4, 2020March 4, 20202553

JLL Capital Markets has secured $17.4 million to finance the acquisition and renovation of 79 Clifton Place, a 40-unit, 52,375 s/f multi-housing building in Clinton Hill, Brooklyn. JLL worked on behalf of The FREO Group to secure the loan, which was provided by Voya Investment Management LLC. The six-story building,...

Banking and Finance Debt & Equity

Carlton Group tapped to raise equity for $775M resort venture

REW March 4, 2020 March 4, 2020

by REWMarch 4, 2020March 4, 20204537

The Carlton Group. Ltd., announced that the real estate investment banking firm has been named the exclusive advisor to Artha Capital for the procurement of $300 million of equity for the $775 million development of NIA, a planned resort community by Marriott International Inc. on Mexico’s Riviera Nayarit. Artha Capital,...

Banking and Finance Debt & Equity

Cresset, Diversified close $465M OZ fund, launch new campaign

REW March 4, 2020 March 4, 2020

by REWMarch 4, 2020March 4, 20202060

Cresset and Diversified Real Estate Capital announced the close of their first Qualified Opportunity Zone (QOZ) fund, the Cresset-Diversified QOZ Fund, after raising the $465 million in capital for the portfolio and the seven underlying projects. Capitalizing on the success of Fund I, and the strength of their investment pipeline,...

Banking and Finance Debt & Equity

Meridian arranges loan for Fordham assemblage

REW March 4, 2020 March 4, 2020

by REWMarch 4, 2020March 4, 20203793

Meridian Capital Group arranged $18.85 million in acquisition financing for the CSX site within the Fordham Landing assemblage in the Bronx. The 12-month bridge loan was negotiated on behalf of Gary Segal of Dynamic Star by Meridian senior managing director Ronnie Levine, Thomas Wayda, Shamir Seidman and Shlomo Weissberg, who...