Category : Debt & Equity

Utility costs, consolidation putting pressure on owners bottom line
Deals & DealmakersDebt & Equity

Utility costs, consolidation putting pressure on owners bottom line

REW
by REW1214
Increases in income levels are being offset by increased expenses for privately owned office buildings in the United States, according to BOMA. And continuing trends towards densification also may be counterbalancing gains from a strengthening economy. In its annual office sector benchmarking study, the Building Owners and Managers Association (BOMA)...
Debt & Equity

O’Connor Davies continues to grow NY offices

REW
by REW1002
O’Connor Davies, LLP, one of the oldest yet fastest-growing accounting and advisory firms in the U.S., has expanded by nearly 10,000 s/f and extended the term of its existing 35,580- s/f lease at 500 Mamaroneck, a property in Harrison, NY owned by Empire State Realty Trust, Inc. With this transaction,...
Debt & EquityResidential

JPMorgan finances new Boerum Hill condo

REW
by REW1152
Avery Hall Investments, along with partner ARIA Development, have secured financing — a $34.2 million construction loan from JPMorgan Chase for 465 Pacific Street in Boerum Hill, Brooklyn. Avery Hall Investments and partner ARIA Development Group have broken ground on the new seven-story, 30-unit condo building, with 85,000-square-foot, at 465...
Debt & Equity

‘Non-investors’ pooling their dollars for bet on Bushwick

REW
by REW1192
Real estate crowdfunding platform CityFunders has just launched an investment listing for the first ever crowdfunded property in Brooklyn’s Bushwick neighborhood. The service is seeking a $1 million contribution from investors for 99 Scott Avenue, a 22,000 s/f building that was previously used as a manufacturing warehouse. The property, which...
ARC Hospitality closes on $450M loan for hotel buy
Debt & Equity

ARC Hospitality closes on $450M loan for hotel buy

REW
by REW1271
American Realty Capital Hospitality Trust, Inc. has completed a new term loan facility with Deutsche Bank AG New York Branch and Deutsche Bank Securities Inc. which will provide up to $450 million in financing for the company’s acquisitions of separate hotel portfolios from affiliates of each of Summit Hotel Properties,...
NYLREI antes up $500M for 11 Times Square financing
Debt & Equity

NYLREI antes up $500M for 11 Times Square financing

REW
by REW1255
New York Life Real Estate Investors announced today the financing of Eleven Times Square, a state-of-the-art 1.1 million square foot, LEED Gold certified, Class A trophy office building located in midtown Manhattan. Situated immediately north of The New York Times building, Eleven Times Squareis owned by a partnership comprised of...
Debt & Equity

Transactions: Meridian’s mortgage for Huntington property, GCP Capital’s $42.3M in mortgage financing

REW
by REW1048
Meridian announced the following transactions: A new mortgage of $1,270,000 was placed by Meridian on a three-story, 12-unit multifamily property located on Oakwood Road in Huntington, NY. The loan features a rate of 2.75 percent and a three-year term. This transaction was negotiated by Aaron Birnbaum and Dani Sabesan. Meridian...
Global Net Lease invests $92.5M
Debt & Equity

Global Net Lease invests $92.5M

REW
by REW1212
Global Net Lease, Inc. announced it has signed agreements to acquire 12 net lease properties through five separate transactions for a total purchase price of approximately $88.5 million. Additionally, GNL has expanded its presence at its owned facility in Pleasanton, Texas, net leased to National Oilwell Varco, LP, for a...
Best Western lassos $10M financing for Brooklyn hotel
Debt & Equity

Best Western lassos $10M financing for Brooklyn hotel

REW
by REW1104
Meridian Capital Group arranged $10 million in permanent financing on the Best Western Gregory Hotel in Brooklyn. The $10 million, 10-year CMBS loan was provided by Rialto Mortgage Finance LLC and features a fixed rate and interest-only payments for the first year. The transaction was negotiated by Meridian managing director...
Debt & Equity

Technology easing Truth in Lending compliance

REW
by REW1048
  By Anna Convery,CMO and EVP, OpenSpan On October 3, 2015, the Consumer Financial Protection Bureau will implement the Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure, also known as the TILA-RESPA Integrated Disclosures (TRID) regulation. It brings guidelines that will impact how loans are processed...