Category : Debt & Equity

Debt & Equity

LCOR closes on $49M construction financing

REW Staff
by REW Staff839
LCOR has closed on construction financing for its 304,271 s/f mixed-use project at 638 Bloomfield Ave. in Montclair, NJ. LCOR secured a construction loan for over $49 million from Wells Fargo for the site, which broke ground on November 12. “638 Bloomfield Ave. presents an extraordinary opportunity to revitalize an...
SL Green inks $275M News Building loan
Deals & DealmakersDebt & Equity

SL Green inks $275M News Building loan

REW Staff
by REW Staff794
Cushman & Wakefield announced that it served as the exclusive advisor to an affiliate of SL Green Realty Corp. in arranging a $275 million senior mortgage loan for 220 East 42nd Street in New York. The seven-year financing was provided by Wells Fargo.
Debt & Equity

CBRE expands healthcare platform

REW Staff
by REW Staff759
CBRE Group has acquired KLMK Group, a leading provider of facility consultation to the healthcare industry. The company, which is based in Richmond, Virginia, serves healthcare systems throughout the U.S. With healthcare spending approaching 20% of U.S. GDP, healthcare systems are exploring their facility management and capital spending programs for opportunities to reduce costs, monetize assets, and improve the overall patient experience.
Team raising capital for DR hotel venture
Debt & Equity

Team raising capital for DR hotel venture

REW Staff
by REW Staff729
DTZ Americas, Inc., a division of UGL Limited, together with Brentmoor Capital Group LCC, a New York based boutique advisory firm, have been retained as financial advisors to raise $14 million for a 221-key, 5-star condo hotel in Cabarete, Dominican Republic. The project is being developed by New York-based Sackman...
DTZ checks out hotel loan
Debt & Equity

DTZ checks out hotel loan

REW Staff
by REW Staff736
DTZ’s Real Estate Investment Banking Group arranged a repositioning loan for the 206-key Kauai Sands Hotel in Kapaa, Hawaii. The loan will facilitate an overhaul of the property to upgrade the hotel from 2 stars to 3.5 stars. Senior vice president Jeffrey Donnelly, who leads the RE Investment Banking Group...
Debt & Equity

10 things you should know before you invest in real estate

REW Staff
by REW Staff793
By Mark M. Mindick, CPA, Citrin Cooperman To succeed in real estate, one needs to be ready to take the risks. It may seem like a pretty tough and complicated matter, but there are a few tips to take into consideration to help you achieve goals you have set. Below...
Brookfield still interested in Stuy Town as tenants brace for rent hikes
Debt & EquityFeatured

Brookfield still interested in Stuy Town as tenants brace for rent hikes

REW Staff
by REW Staff709
Another round of rent hikes at Stuyvesant Town should make the massive East Side apartment complex more attractive to investors. City Council Member Dan Garodnick said this week that the move announced by the state housing agency would bulk up the rent roll, a dangling carrot for potential buyers. The state’s Division of Housing and Community Renewal last week sent out letters to the 30,000 Stuy Town and Peter Cooper Village tenants advising them that five Major Capital Improvement charges for various renovation projects around the 110-building complex were about to be lumped onto their rent checks. The charges are retroactive to 2009 when the work was done by then-owner Tishman Speyer.
West Village acquisition loan closed by Mesa
Debt & Equity

West Village acquisition loan closed by Mesa

REW Staff
by REW Staff849
Mesa West Capital has provided Benchmark Real Estate Group with a $17 million first mortgage loan to facilitate the acquisition and repositioning of a West Village mixed use apartment building. The loan was secured by 455-457 Hudson, a six-story, 26,400 s/f mixed-use apartment building containing 38 residential units and 2...
Debt & Equity

Meridian arranges $85M Matrix loan

REW Staff
by REW Staff861
Meridian Capital Group negotiated an $85 million mortgage for the refinancing of the Matrix Corporate Center office property located in Danbury, CT on behalf of Matrix Realty Group. The five-year CMBS loan features a fixed-rate of 4.61%. The transaction was negotiated by Meridian Capital Group managing director, Tal Bar-Or and...
LCOR inks new deal to finance 25 Broad building for $110M
Deals & DealmakersDebt & EquityFeatured

LCOR inks new deal to finance 25 Broad building for $110M

REW Staff
by REW Staff703
HFF announced that it has arranged a $110 million permanent financing for 25 Broad at the Exchange, a newly-renovated, 308-unit, Class A multi-housing property in the Financial District. HFF represented LCOR to secure the seven-year, fixed-rate permanent loan with Northwestern Mutual Life Company. The deal puts the value the building at around $220 million, as companies typically leverage deals at 50 percent.