Category : Debt & Equity

Construction & Design Debt & Equity Residential

Savanna secures $22M for 141 Willoughby buy

REW Staff March 19, 2014 March 19, 2014

by REW StaffMarch 19, 2014March 19, 20141034

Pembrook Capital Management LLC just closed a $21.8 million bridge loan to fund the acquisition by Savanna Partners of a Downtown Brooklyn development site near the Barclays Center. Savanna purchased the site at 141 Willoughby Street immediately adjacent to the two million-square-foot, $1 billion multi-phased mixed-use development known as City...

Debt & Equity Property Managers

Time to get your head — and business — in the cloud

REW Staff March 12, 2014 March 12, 2014

by REW StaffMarch 12, 2014March 12, 2014828

By Ian Marlow, CEO, FITECH Anyone who has ever accessed web-based email, downloaded something from iTunes or used Dropbox to store and share files has used cloud technology. The “cloud” refers to data and files stored in remote servers rather than on your actual computer or on your office server....

Debt & Equity

Arbor funds $38M in multifamily deals across US

REW Staff March 10, 2014 March 10, 2014

by REW StaffMarch 10, 2014March 10, 2014587

Arbor Commercial Funding, LLC announced the recent funding of eight loans totaling $37,476,500 under the Fannie Mae Delegated Underwriting & Servicing (DUS®) Loan, Fannie Mae DUS Small Loan, Fannie Mae DUS Supplemental, and Fannie Mae DUS ARM 7/6™ product lines. All of the loans were originated by Greg Gillam, vice...

Debt & Equity

CMBS delinquency rate plunges in February

REW Staff March 10, 2014 March 10, 2014

by REW StaffMarch 10, 2014March 10, 2014650

Trepp, LLC, a provider of information, analytics, and technology to the CMBS, commercial real estate, and banking markets, released its February 2014 US CMBS Delinquency Report today. Trepp has anticipated continued improvement in the US CMBS delinquency rate, as February marks the ninth straight month in which the rate has...

Debt & Equity

Grassi & Co. launches new $3.6B fund service

REW Staff March 10, 2014 March 10, 2014

by REW StaffMarch 10, 2014March 10, 2014653

Grassi & Co. announced the launch of a brand new fund administration entity — Grassi Fund Administration Services, Inc. (GFAS). GFAS, a subsidiary of Grassi & Co., will take over the more than $3.6 billion in assets under administration previously administered by Grassi & Co. — continuing to provide customized...

Debt & Equity

Pottery Building refinancing reflects growing presence of overseas investors in US market

REW Staff March 10, 2014 March 10, 2014

by REW StaffMarch 10, 2014March 10, 2014848

Eastern Union Funding closed an $8 million refinance for The Pottery Building, a Philadelphia construction project. The loan was originated and arranged by senior managing director Eli Breiner and loan analyst Abraham Miller. The property is located at 105 North 2nd street, and has 43 apartment housing units and one...

Debt & Equity

Secaucus center loan

REW Staff March 10, 2014 March 10, 2014

by REW StaffMarch 10, 2014March 10, 2014767

HFF arranged $5.1 million in acquisition financing for the Mill Creek Annex, a 25,108 s/f retail center in Secaucus, New Jersey. HFF worked on behalf of the borrower to secure the seven-year, fixed-rate loan through Investors Bank. The center is part of the Harmon Meadow development, a 200-acre master-planned center...

Debt & Equity

HKS arranges $120M loan for Baron buy

REW Staff March 6, 2014 March 6, 2014

by REW StaffMarch 6, 2014March 6, 2014676

In one of its largest brokered deals in the last year, HKS Capital Partners has arranged a $120 million loan from Goldman Sachs for Simon Baron Development Group’s acquisition of 12 East 88th Street in Carnegie Hill, Manhattan. Ayush Kapahi, a founding partner at the boutique brokerage firm, negotiated the...

Debt & Equity

Transactions: a $20 million hotel mortgage from HKS, $13.9 million for Jersey City portfolio from Eastern Union, and more

REW Staff March 6, 2014 March 6, 2014

by REW StaffMarch 6, 2014March 6, 2014733

Meridian Capital announced the following transactions: • A new mortgage of $1,300,000 on a four-story, 10-unit multifamily property located on Jefferson Avenue in Brooklyn, NY. The loan features a rate of 3.18% and a five-year term. This transaction was negotiated by Jacob Schmuckler and Sam Shifer. • New mortgages totaling...

Deals & Dealmakers Debt & Equity

Time for real estate companies to take a hard look at technology budgets

REW Staff February 27, 2014 February 27, 2014

by REW StaffFebruary 27, 2014February 27, 2014750

By Jennifer McLean, CFO, GFI Capital For much of the real estate industry, new technologies have been viewed as minor annoyances — unnecessary distractions to a well-oiled machine. After all, why allocate capital to a new digital infrastructure when you can just, you know, buy a new building? However, as the...