Category : Debt & Equity

Christin Philips in a class of her own —almost
Debt & Equity

Christin Philips in a class of her own —almost

REW Staff
by REW Staff1136
Most MAIs (Member of the Appraisal Insitute) are men, which puts Christin Philips in the minority. A vice president of Appraisers and Planners, Inc., a full service real estate appraisal and consulting firm headquartered in New York City, Philips was recently awarded an MAI designation from the Appraisal Institute, a...
Deals & DealmakersDebt & Equity

Women in the money see investment levels rising

REW Staff
by REW Staff1089
By Konrad Putzier Female leaders in real estate investing expect the coming year to be much more competitive than the last. “There is less product out there. This creates competition — whether in prime, secondary or tertiary markets,” said Marilyn Kane, president of real-estate investment fund Iridium Capital. Kane will...
Debt & Equity

Eastern closes on 105 percent financing deal

REW Staff
by REW Staff879
Eastern Union Funding negotiated an $8,700,000 bridge loan for the acquisition of Dix McBride Apartments, a 130-unit multifamily in Far Rockaway, NY. The loan was originated and arranged by Brooklyn office director Motti Blau. The loan features a 7.75 percent rate plus libor, on a 12 month term with an...
Construction & DesignDebt & EquityHeadline

Skyscraper boom tied to market crash

REW
by REW3562
Curious if the U.S. stock market is heading for a crash in 2014? One way of finding out may be to count the skyscrapers planned or under construction in New York City. Gunter Loffler, a professor of finance at Ulm University in Germany, has studied the correlation between skyscraper construction and stock market returns from 1871 to 2009. He found that a skyscraper boom tends to be followed by a stock-market crash, or at least a readjustment.
Construction & DesignDebt & EquityResidential

Harlem rental from HAP

REW Staff
by REW Staff672
HAP Investments LLC, a New York based international real estate investment and development company, is in contract to buy 247-249 East 117th Street. The seller is PGC New York 1 LLC. 247-249 East 117th Street is located on the north side of East 117th Street, between 2nd and 3rd Avenues...
Debt & EquityResidential

Bank arranges $30M loan for new waterfront complex

REW Staff
by REW Staff684
First Niagara’s Commercial Real Estate Group announced closing on a $30 million loan with National Resources for construction of a 100-unit luxury apartment building at Edgewater Harbor, a 24-acre mixed-use community located on the Hudson River waterfront in Edgewater, NJ. The loan will also finance construction of a parking garage...
Debt & Equity

$16M debt deal arranged for hotel

REW Staff
by REW Staff926
Johnson Capital, a national real estate investment company, announced that Daniel Lisser, principal in the firm’s New York City office, arranged $16,000,000 in financing for the 128-room Wyndham Garden Hotel in the Long Island City section of Queens. The seven-story select service hotel opened in May 2012. It is located at 44-29 9th Street and was developed by a local, Queens-based developer.
Debt & Equity

Carlton ends the year on $4B high note

REW Staff
by REW Staff704
Carlton Chairman Howard L. Michaels has announced the closing of over $4 billion of structured equity, debt and investment sale transactions throughout the United States and Europe in November and December. Overall Carlton raised $6 billion for 2013 transactions. Carlton specializes in representing large property owners organizing complex, often high leveraged, multi-tranched capital stacks in order to generate attractive equity and debt capitalizations for its clients acquisitions.
Debt & Equity

No waiting! $40M gets NJ developer moving

REW Staff
by REW Staff601
Meridian Capital Group, LLC, a national commercial real estate finance and advisory firm, negotiated $40 million in permanent financing for Camelot at Cinnaminson Harbour, a luxury multifamily complex located in Cinnaminson, NJ. The five-year loan features a competitive fixed-rate of 3.64% and a 30-year amortization period. This transaction was negotiated...
Debt & Equity

RAD cash ‘best thing since sliced bread’

REW Staff
by REW Staff928
Carthage Real Estate Advisors has closed on the recapitalization of three projects, utilizing the Rental Administration Demonstration program created by HUD in 2013. The properties will receive just over $7,000,000 in capital improvements and ensure more than 350 apartments are preserved as affordable housing for low income families at these...