Category : Debt & Equity

Silverstein to collect $1.8B in bonds for 3 World Trade Center
Deals & DealmakersDebt & Equity

Silverstein to collect $1.8B in bonds for 3 World Trade Center

REW Staff
by REW Staff1084
By Holly Dutton A New York state development agency approved the sale of as much as $1.8 billion in bonds for developer Larry Silverstein’s 3 World Trade Center tower, a deal delayed for more than a year after the Port Authority of New York & New Jersey balked at guaranteeing...
Northmarq inks $192M construction loan for Mack-Cali ‘micro-towers’
Deals & DealmakersDebt & EquityFeatured

Northmarq inks $192M construction loan for Mack-Cali ‘micro-towers’

REW Staff
by REW Staff773
Northmarq Capital’s New Jersey office negotiated a $192,000,000 construction to permanent loan on URL Harborside 1. The project will be located at 200 Greene Street in the Harborside Financial District in Jersey City, New Jersey, and will consist of a 69 story apartment tower containing 763 units, 5,204 s/f of retail space and an eight-story parking garage containing 222 spaces. The building will be one of the first in the market to introduce an emerging concept sustainable and space efficient units under the banner of URL® (Urban Ready Living®).)
Debt & EquityFeatured

Good news, bad news as cash buyers retreat

REW Staff
by REW Staff703
All-cash sales accounted for 37.9 percent of all sales of single family homes and condos nationwide in the second quarter, according to Data firm RealtyTrac’s Q2 2014 U.S. Institutional Investor & Cash Sales Report. This share is down from a three-year high of 42.0 percent in the previous quarter but still up from 35.7 percent in a year ago. “The flurry of purchases by institutional investors and other cash buyers that kicked off two years ago when U.S. home prices hit bottom is finally showing signs of subsiding,” said Daren Blomquist, RealtyTrac vice president, noting that median home prices bottomed out in March 2012.
Debt & Equity

Development Trust reaches $1B finance milestone

REW Staff
by REW Staff666
The Community Development Trust (CDT), the country’s first and largest private real estate investment trust (REIT) which provides capital for the preservation of affordable housing on a national basis, announced two major milestones: the company’s 15-year anniversary and eclipsing the $1 billion level of cumulative investments in affordable housing. CDT...
Four more years, four more years …
Debt & EquityViews

Four more years, four more years …

REW Staff
by REW Staff912
By Billy Procida, Procida Funding No I’m not talking about Obama or any politician, I’m talking about the market for what I refer to as “wholesome housing.” For those of you who have been reading my forecasts for the last few years, sorry to sound like a broken record, but...
Debt & Equity

CBRE reports strong revenue and earning for second quarter

REW Staff
by REW Staff653
CBRE Group, Inc. reported strong revenue and earnings growth for the second quarter ended June 30, 2014. Revenue for the quarter totaled $2.1 billion, an increase of 22 percent from $1.7 billion in the second quarter of 2013. Excluding selected charges, net income rose 17 percent to $118.7 million from...
Debt & Equity

Moinian secures $539M to build west side rental

REW Staff
by REW Staff643
The Moinian Group announced that it has secured a $539 million loan with the New York State Housing Finance Agency, with credit enhancement from Bank of China and Ullico for its 1.16 million-square-foot luxury residential rental tower at the northwest corner of West 42nd Street and 11th Avenue. Moinian also...
Debt & Equity

Enjoy dog days of summer while they last

REW Staff
by REW Staff481
By Rick Jones It is the dog days of summer, but the doldrums seem to have taken a pass. The markets seem to be in robust health. As we look over this complex web of transactions, deal structures, innovations, capital flows, business plans, business goals, failures and successes that is...
Blackstone bulks up on real estate
Debt & EquityFeatured

Blackstone bulks up on real estate

REW
by REW710
Asset management behemoth Blackstone had the second best quarter in its history, and its real estate investments played a big role. Blackstone’s global real estate assets grew by 26 percent year-over-year in dollar volume to a staggering $80.41 billion, leading to an economic income of $489 million in the second quarter.
Debt & Equity

Four things about your property you should always tell your insurance broker

REW Staff
by REW Staff822
By Izzy Green, president & CEO, Evergreen Insurance & Risk Management As a busy building owner, I’m sure you’re more concerned about filling up your next apartment, closing your next deal, and getting your building refinanced than you are about notifying your insurance broker with changes to your building. There...