Category : Debt & Equity

Debt & Equity

Return to normalcy creating robust lending environment

REW Staff
by REW Staff859
By Bobby Bakhchi, CEO, Hybrid Capital Over the past two years, the volume of securitized loans has increased dramatically, in part because the markets are seeing a return to normalcy. As for agency lenders, before the downturn, agency lenders such as Fannie Mae and Freddie Mac designated certain markets as...
Debt & Equity

Low rates drive $14M in co-op loans

REW Staff
by REW Staff791
National Cooperative Bank (NCB), a lender to cooperative housing, originated over $14 million in new financing activity during February for ten New York area properties. Edward Howe III, managing director of the NCB New York office, commented, “In February we saw co-ops throughout the city take advantage of the low...
Deals & DealmakersDebt & Equity

Phillips Edison adds NYC office

REW Staff
by REW Staff967
Phillips Edison & Company announced the opening of two new offices in New York City, NY and Atlanta, GA. These offices further expand the company’s presence throughout the northeastern and southeastern regions of the country. Located in Rockefeller Center, the New York City office will facilitate the company’s relationships with...
Meridian arranges $200M loan for Sutton retail buy
Debt & EquityRetail

Meridian arranges $200M loan for Sutton retail buy

REW Staff
by REW Staff1001
Meridian Capital Group arranged $200 million in acquisition financing for the mixed-use commercial building located at 530 Broadway in New York, on behalf of a venture led by Jeff Sutton’s Wharton Properties. The three-year financing was provided by a national balance sheet lender and features a competitive LIBOR-based spread and...
$1.2B credit deal gives SL Green an edge
Deals & DealmakersDebt & Equity

$1.2B credit deal gives SL Green an edge

REW Staff
by REW Staff1370
SL Green Realty Corp. announced that it has amended and expanded the term loan portion of its unsecured corporate credit facility by $383 million to $783 million. The maturity date of the term loan is extended to June 2019 and the cost of the term loan has been reduced to...
Tough love as crowdfunding grows up
Deals & DealmakersDebt & EquityHeadline

Tough love as crowdfunding grows up

REW Staff
by REW Staff2871
On a recent Thursday night, the crowdfunding startup iFunding hosted a party in a Fidi basement apartment that offered a glimpse of what the future of New York real estate could look like. Stepping through the door felt like entering some parallel universe in which the industry is young, multi-ethnic, laid back and virtually jacket- and tie-less. “It’s going to be absolutely huge,” said one guest. “In a few years, everyone will be doing it,” added another. But go to any more traditional real estate event and you will find little enthusiasm for crowdfunding. Its numerous critics see it as a passing trend, a dangerous method that will defraud clueless investors, or both
Construction & DesignDebt & EquityResidential

$42M loan for new Flatiron condo

REW Staff
by REW Staff906
Carlton Group chairman Howard L. Michaels announced the closing of a $42 million construction loan and joint venture equity investment for a new condominium project in the Flatiron District. The financing of the property, located at 21 West 20th Street, will enable developer, Gale International, to build a 37,000 s/f...
Construction & DesignDebt & Equity

HKS borrower sees growth opportunity

REW Staff
by REW Staff1135
HKS Capital Partners has negotiated a $24.6 million dollar ground-up construction loan for a three story multi-residential complex featuring 165 units. The proposed 132,348 s/f development site — to be called Barnbeck Place Apartments — is located in Brookfield, Connecticut, next to a health facility, medical offices and other amenities....
Debt & Equity

New title firm launched

REW Staff
by REW Staff897
OneTitle National Guaranty Company launched today as a new licensed New York title insurance underwriter. OneTitle was co-founded by entrepreneurs Daniel Price and Seth Brown, Yale graduates with extensive experience in financial services and New York real estate. Price is a senior financial services executive and principal investor who was...
Debt & Equity

Rhine secures $16M for midtown south owner

REW Staff
by REW Staff783
Meridian Capital Group negotiated $16 million in permanent financing for an office and retail property located on West 30th Street in New York, NY. The 12-year loan features a fixed rate of 3.88% and was provided by a local savings bank. The transaction was negotiated by vice president Josh Rhine,...