Category : Debt & Equity

Debt & Equity

Meridian inks $30M apartment deal

REW Staff
by REW Staff598
Meridian Capital Group, negotiated a $30 million first mortgage construction loan for the ground-up development of a multifamily property located on East 74th Street on behalf of Golden Asset, LLC. The three-year loan, which features a competitive spread over LIBOR, interest-only payments for the full term and several extension options,...
JLL arranges $200M loan for 61 B’way buy
Debt & EquityFeatured

JLL arranges $200M loan for 61 B’way buy

REW Staff
by REW Staff744
JLL’s Capital Markets experts announced RXR Realty has secured $200 million in acquisition financing for 61 Broadway, a 786,975 s/f office building in downtown Manhattan. Managing director Kelly Gaines and senior vice president Brett Rosenberg led the JLL team on the transaction. “An impressive building backed by best in class sponsorship and located in Manhattan’s highly desirable financial district checks all the boxes in regards to what lenders seek,” said Gaines.
Debt & Equity

Good, bad or ugly? What’s ahead for the US economy

REW Staff
by REW Staff779
Economic positives outweigh negatives according to real estate economists who addressed a standing-room only audience last week at The Counselors of Real Estate’s Midyear conference in Austin, Texas. The three-day event is noted for bringing together thought leaders from around the world, offering balanced perspectives on the most critical issues...
Activist investors keeping REITs on edge
Debt & EquityHeadline

Activist investors keeping REITs on edge

REW
by REW964
Last week’s open letter by Marcato to the management of American Realty Capital Properties (ARCP) has rekindled a simmering debate over the merits and dangers of investor activism in REITs. Marcato, an investment firm that owns 2.4 percent of ARCP’s shares, criticized the REIT for “engaging in too many transformative transactions too quickly” — in effect urging it to change its strategy. While some observers and REIT managers see this kind of investor activism as disruptive, others argue that it makes REITs more accountable and efficient. The debate has become more important in recent years, as a growing number of formerly private real estate companies are turned into REITs — often for tax purposes
Construction & DesignDebt & EquityFeaturedResidential

Meridan arranges $30M loan for new rental tower

REW Staff
by REW Staff920
Meridian Capital Group negotiated a $30 million first mortgage construction loan for the ground-up development of a multifamily property located on East 74th Street in New York, NY on behalf of Golden Asset, LLC. The 20-story property, located at 501 East 74th Street, is designed by Steven B. Jacobs Group Architects and will total 83 units and feature designer finishes and amenities in line with the standards of current luxury rental projects.
Debt & Equity

$90M debt financing package crafted for George Comfort’s ‘model’ campus

REW Staff
by REW Staff789
Mesa West Capital and RCG Longview have provided a venture controlled by an affiliate of George Comfort & Sons with $90 million in debt financing for the High Ridge Park Corporate Center. The 583,000 s/f Class A suburban office campus is located just off the Merritt Parkway, five miles north...
Americans passion for stuff is helping bulk up profits among biggest self-storage REITs
Debt & EquityFeatured

Americans passion for stuff is helping bulk up profits among biggest self-storage REITs

REW Staff
by REW Staff962
Job growth and a growing U.S. population, with its propensity to acquire stuff and reluctance to part with it, is fuelling demand for self-storage units, which has led to strong performance among self-storage REITs. Year-to-date through May 21, self-storage REIT sector returns have totaled 15.89%, which is well above the 13.26% FTSE NAREIT All Equity REIT average.
Debt & EquityPhoto Gallery

NYCREW spotlights project finance

REW Staff
by REW Staff1115
[imagebrowser id=301] Photos by onefinedayphotographers What projects are being funded and how was the topic of a lively discussion at the New York Chapter of Commercial Real Estate Women’s Network’s (NYCREW) latest Industry Spotlight. Held at the offices of Bingham McCutchen, “Commercial Lending 2.0 and Beyond” was moderated by Karen Fiorentino, Fiorentino Law Firm,...
Debt & Equity

RSA partners with housing group to offer mortgage services

REW Staff
by REW Staff797
The Rent Stabilization Association and the NYC Housing Partnership have teamed in a joint venture to provide commercial mortgage brokerage services to owners of mid-tier and smaller multifamily apartment buildings across the five boroughs. The venture — RSA Mortgage Brokerage LLC (RSAMB) — hopes to ease landlords’ access to credit. Owners of smaller multifamily buildings often struggle to secure bank loans.
Deals & DealmakersDebt & Equity

Investors set out to untangle web of Stuy Town debt

REW Staff
by REW Staff858
By Konrad Putzier Fortress Investment Group is starting a push to take over StuyTown, but first the firm has to untangle a web of debt layers and potential conflicts of interest. After years of remaining silent on its plans for putting Stuyvesant Town/Peter Cooper Village up for sale, CWCapital made...