Category : Debt & Equity

Debt & Equity

Kennedy closes on church group funding

REW Staff
by REW Staff926
Kennedy Funding Financial has completed a $5.28 million loan by Tulare Lender, LLC to Tulare Bethel Housing, Inc., an affiliate of the Bethel Assembly of God in Tulare, California. The three-year interest-only financing is secured by a first lien on two parcels of land totaling 33.74 acres in central California’s...
Eastern Union sets $1B sales record
Debt & Equity

Eastern Union sets $1B sales record

REW Staff
by REW Staff1922
Eastern Union Funding, one of the country’s largest private mortgage brokerage companies serving the national commercial real estate sector, posted sales volume in excess of one billion dollars in the first four months of 2014. The company enjoyed a 66 percent year-over-year increase during this time. Last year, Eastern Union...
Green the new black as REITs dive into sustainability movement
Debt & Equity

Green the new black as REITs dive into sustainability movement

REW Staff
by REW Staff1074
By Susan Persin, Trepp Green building has become a widely accepted business practice in recent years as cost savings and higher building valuations have been better documented. Owners have experienced cost savings for heating/cooling and water, and “green” buildings help properties attract tenants whose policies call for them to lease...
Debt & Equity

$7M multi-family mortgage deal

REW Staff
by REW Staff805
Meridian Capital Group arranged $7.5 million in first mortgage financing for a multifamily portfolio in Bay Ridge, Brooklyn, on behalf of a local real estate investor. The 15-year self-liquidating financing package features a rate of 3.50% and was provided by a local savings bank. The loans were negotiated by Meridian...
$46M townhouse loan built-to-suit
Debt & Equity

$46M townhouse loan built-to-suit

REW Staff
by REW Staff665
Robert Weiss, of Weiss Properties, received a $46.575 million loan for The Avery, a growing townhome community at 10 Lincoln Square in Willingboro, NJ. The project will total 450 units upon completion. Shaya Ackerman of Eastern Union Funding brokered a revolving $40 million construction loan with an additional $6.575 earn-out....
Debt & Equity

Co-op borrowing comes out of hibernation

REW Staff
by REW Staff764
National Cooperative Bank (NCB), a lender to co-operative housing throughout the Tri-State area, originated $18.6 million in new loans during April for 11 New York area properties. Edward Howe III, managing director of the NCB New York office, said, “Co-ops in Manhattan made up the majority of the activity during...
Debt & Equity

Proposed tax code reform could impact real estate industry

REW Staff
by REW Staff848
By George Livanos, partner, SaxBST Senate Finance Committee chairman Max Baucus recently released several “Staff Discussion Drafts” containing proposals to reform the tax code. The proposals include reforms to cost recovery and tax accounting rules. Included within the proposals are a number of provisions that could impact the real estate...
Debt & Equity

$59M loan for FiDi buy

REW Staff
by REW Staff928
Meridian Capital Group arranged $58.6 million in acquisition financing for a multifamily property located in New York, NY on behalf of San Francisco, CA-based Carmel Partners. The $58.6 million seven-year mortgage, provided by a regional balance sheet lender, features an interest-only component and a floating-rate that was swapped to a...
Debt & Equity

Arbor closes $375M CLO

REW Staff
by REW Staff1025
Arbor Realty Trust, Inc., a real estate investment trust, has closed a $375 million collateralized loan obligation (CLO) issued by two newly-formed subsidiaries of Arbor. An aggregate of approximately $281 million of investment grade-rated debt was issued and Arbor retained an equity interest in the portfolio of approximately $94 million. The $375 million of...
Deals & DealmakersDebt & Equity

New tech firm on track

REW Staff
by REW Staff955
Benjamin Neuwirth has launched CRE Tracker, a new company and platform geared toward the commercial real estate industry, with the goal of integrating reliable, real-time information monitoring techniques with ground-breaking technology. Neuwirth’s focus is on creating and implementing customized platforms for pipeline reporting, internal tracking and contact management for bankers,...