Category : Debt & Equity

Debt & Equity

Simone loan a Shore thing

REW Staff
by REW Staff544
First Niagara’s Commercial Real Estate Group announced the closing of a $15 million loan for the refinancing of One Sound Shore Drive, a fully leased, 60,000 s/f Class A office property in Greenwich, CT. The property is owned and managed by Simone Development Companies and Fareri Associates. Tracy Dembicer, vice...
Debt & Equity

Analysts impressed with turnaround in national CMBS delinquency rates

REW Staff
by REW Staff628
The Trepp CMBS delinquency rate continued its “impressiveˮ turnaround in November, which marked the sixth consecutive month of improvement. With a rate decrease of 32 basis points in November, the delinquency rate for US commercial real estate loans in CMBS is 7.66%. The Trepp delinquency rate has dropped 268 basis...
Ackerman driving record volume at mortgage firm
Debt & Equity

Ackerman driving record volume at mortgage firm

REW Staff
by REW Staff746
Shaya Ackerman, senior managing director at Eastern Union Funding has closed six loans on multiple property types in as many days. He inked deals spanning three boroughs and two states for an assisted living facility, a senior living community, a multifamily construction take-out, a regular multifamily, a mixed-use and a...
Debt & Equity

Recap boom prompts deal on Seventh Ave. building

REW Staff
by REW Staff578
Hybrid Capital, a New York-based commercial mortgage and advisory firm, arranged a $13,000,000 refinancing for a six-story, 35,000 s/f office building on Seventh Avenue in Midtown West in Manhattan. According to Bobby Bakhchi, the CEO of Hybrid Capital who arranged the transaction on behalf of a private investor, the terms...
Deals & DealmakersDebt & EquityRetail

Ravenous investors eating up NYC retail

REW Staff
by REW Staff597
Fueled by intense investor demand and rising retail rents across the five boroughs, the New York City retail property market continued its healthy volume of activity with $445 million in sales in the third quarter, according to Eastern Consolidated’s December 2013 Retail Pulse report. Not only did the third quarter...
Experts write new chapter in tale of two property taxes
Debt & Equity

Experts write new chapter in tale of two property taxes

REW Staff
by REW Staff696
By design, NYC’s property taxes favor homeowners over renters. As a result, New York City imposes one of the highest tax burdens on apartment buildings, and one of the lowest burdens on one- to three-family homes, of any large city in the country. Not only is this system unfair, but...
Debt & Equity

Carlton opens Middle East office

REW Staff
by REW Staff821
Carlton Group has established a new Middle East/North Africa (MENA) region, and announced the hiring of managing director Ed McClendon to lead the unit. Chairman Howard Michaels said McClendon will bring the investment sales and equity debt services directly to the region. McClendon, who lives in Dubai, is a successful...
Cetra Ruddy designs new Village condo
Construction & DesignDebt & EquityResidential

Cetra Ruddy designs new Village condo

REW Staff
by REW Staff657
Developer DHA Capital has tapped CetraRuddy to transform a former parking garage at 12 East 13th Street into an apartment building. Dan Hollander, managing principal, and Josh Schuster, principal of DHA Capital, along with Steven Fisch, managing partner of Continental Properties, are converting the property into eight luxury homes CetraRuddy,...
Debt & Equity

$22M grocery store bill

REW Staff
by REW Staff652
HFF arranged a $22 million financing for Chester Springs Shopping Center, a 223,068 s/f, grocery-anchored shopping center in Chester, New Jersey. Working on behalf of Heitman and Ramco-Gershenson Properties Trust, HFF placed the three-year loan with a national bank, at a floating interest rate of LIBOR plus 175 basis points....
Debt & Equity

Cushman team arranges $57M loan for ASB apartment community

REW Staff
by REW Staff832
Cushman & Wakefield served as the exclusive advisor to affiliates of ASB Real Estate Investments in arranging a $56.75 million loan for The Peninsula, a 285,205 s/f apartment community in Dorchester Bay, Boston. The ten-year financing was provided by Capital One Bank. The Peninsula, which consists of two buildings (Peninsula...