Category : Debt & Equity

Walker & Dunlop structures $20M acquisition loan
Debt & Equity

Walker & Dunlop structures $20M acquisition loan

REW
by REW888
Walker & Dunlop, Inc.  closed a $20,670,000 loan for Botanica Apartments in Mandeville, Louisiana using Fannie Mae’s Early Rate Lock program. The acquisition loan was structured as a 15-year fixed rate loan with seven years interest-only and a 1.25x debt-service coverage ratio, amortizing over 30 years. Stephen Farnsworth, managing director,...
Adopted Budget boosted by higher tax revenues
Debt & Equity

Adopted Budget boosted by higher tax revenues

REW
by REW1141
New York City’s FY 2016 Adopted Budget of $78.5 billion benefitted from $5.9 billion in additional resources since June of last year, including higher than projected tax revenues, savings and prior-year funds rolled over, according to an analysis released by New York City Comptroller Scott M. Stringer The Comptroller’s Office’s...
Underserved market puts KFF on border patrol
Debt & Equity

Underserved market puts KFF on border patrol

REW
by REW1041
It took the vision, resources and creative expertise for Kennedy Funding Financial, LLC (KFF) to help a $16 million retirement project get off the ground. Kennedy Funding Financial has completed a $7.38 million construction loan for a proposed independent living community in Lakeshore, Ontario, Canada, announced Gregg Wolfer, COO of...
Debt & Equity

Investors Bank originates $128M in multifamily loans

REW
by REW1110
The Investors Bank CRE Lending Group recently originated six larger commercial mortgages valued at $128 million. The loans will be used to purchase multifamily properties and refinance mortgages as well as finance the construction of an apartment building in New York City. All together, the buildings have a total of...
Debt & Equity

LOAN ROUNDUP: Partners refi’ NJ offices; Newmark sells non-performing loan

REW
by REW1292
● RUBENSTEIN PARTNERS Partners refinance NJ offices Rubenstein Partners, L.P. has closed on a $28.5 million refinancing for 211 Mount Airy Road in Basking Ridge, NJ, a 305,000 s/f Class A office property. Wells Fargo is providing the new five-year loan facility. Rubenstein Partners, together with its partner Onyx Equities,...
Debt & Equity

Columbia Property Trust positioned for growth

REW
by REW922
Columbia Property Trust, Inc. reported financial results for the second quarter ended June 30, 2015. For the second quarter of 2015, Normalized Funds from Operations (FFO) per diluted share was $0.53, Adjusted Funds from Operations (AFFO) per diluted share was $0.37, and Net Income Attributable to Common Stockholders per diluted...
Debt & Equity

Rockrose receives $270M loan for LIC apartment complex

REW
by REW1399
Rockrose Development Corp. has completed a $270 million construction financing for its 974-unit 80/20 rental apartment tower complex at 43-25 Hunter Street in the Court Square section of Long Island City, Queens. Rockrose negotiated directly with the lead bank lender, Wells Fargo, together with TD Bank and Capital One for...
New player joins luxury asset lending sector as business booms
Debt & Equity

New player joins luxury asset lending sector as business booms

REW
by REW1589
Steven Renbaum is trading commercial real estate for the startup world — in the form of alternative luxury lending. The real estate veteran — who founded Summit Real Estate Partners in 2011, was a former managing partner at Cygnus Partners and was formerly a leasing director at Newmark Grubb Knight...
Debt & Equity

Market strength key to $725M loan for world’s most slender tower

REW
by REW1212
The JLL brokers who helped secure a $725 million loan for “the slenderest tower in the world,” say the deal is a a sign of the city’s strong luxury condo market. Last month, JLL’s Capital Markets closed on $725 million in construction financing for the development of 111 West 57th...
“Great Reset” calls for tax rebates for renters
Debt & EquityFeatured

“Great Reset” calls for tax rebates for renters

REW
by REW872
Pointing to a shortfall in New York City’s supply of affordable housing units, the authors of an NYU research paper offered recommendations similar to an earlier tax plan from Governor Andrew Cuomo. The study, which was written by experts from the university’s School of Professional Studies, recommended government assistance to...