Category : Debt & Equity

Debt & Equity

Fraud and the limited liability company

REW Staff
by REW Staff943
By Stephen Saler, principal and co-founder, Langdon Title Agency, LLC Langdon Title Agency was recently asked to insure the purchase of a mixed-use property in Brooklyn, NY. Upon our review of the abstract of title, we noted that some time in April of 2006, a New York limited liability company...
Debt & Equity

Lifestyle center’s winning formula secures $48M loan

REW Staff
by REW Staff778
The average family household income within a one-mile radius of the property is $178,000 and median home values exceed $878,000. Tice Corner tenants include well-known national retailers such as Apple, Williams-Sonoma, Athleta, J. Crew, Anthropologie, Pottery Barn, and Banana Republic.
Deals & DealmakersDebt & EquityFeatured

Chinese bankroll $600M Sony Building loan

Sarah Trefethen
by Sarah Trefethen1296
The Cherit Group’s $1.1 billion purchase of the Sony Building, which closed on March 8, has secured $925 million in bridge acquisition financing arranged by SL Green. The loan consists of a $600 million senior loan originated by Bank of China, along with a $175 million senior mezzanine debt which SL Green sold to a private investment manager and a $150 million junior mezzanine debt originated by SL Green. The Chinese lender’s $600 million loan is another example of the bank’s pattern in recent years of making selective but substantial investments in U.S. real estate.
Debt & Equity

Cronheim closes on $125M hotel financing

REW Staff
by REW Staff1326
Anna Westhoff and Andrew Stewart of Cronheim Mortgage have arranged $125 million in financing for the Grand Beach Hotel, a full-service, oceanfront property located in Miami Beach, Florida. The loan features a 10-year term with the first 2 years interest-only, amortizing thereafter on a 30-year schedule.
Debt & Equity

Bank of America closes $235M Baccarat loan

REW Staff
by REW Staff1701
Bank of America has closed a $235 million construction loan for the Baccarat Hotel & Residences, the 50-story luxury building being constructed on West 53rd Street in Manhattan by Starwood Capital. Bank of America is acting as administrative agent and lead lender of a syndicate of banks providing the loan.
Change in federal law promotes condo hotel sales
Debt & EquityViews

Change in federal law promotes condo hotel sales

REW Staff
by REW Staff1539
By  Stuart Saft, partner, Holland & Knight As a result of a change in the federal securities laws contained in the federal Jumpstart Our Business Startups Act (the “JOBS Act”), the nationwide sale of Condo Hotel Units with (or without) rental pools as well as other real estate securities including...
Cash infusion accelerates Kensington Vanguard expansion
Debt & Equity

Cash infusion accelerates Kensington Vanguard expansion

REW Staff
by REW Staff2343
Kensington Vanguard, an independent  national title insurance and settlement agency, announced that it has secured “significant growth capital” in a financing led by Red Oak Partners and Waterfield Group. The capital raise will accelerate Kensington Vanguard’s existing national growth, while enabling the firm to make additional strategic acquisitions. “We are...
Debt & EquityEditorial SupplementsFeatured

Appraisers examine future of their profession

REW Staff
by REW Staff2760
Just shy of a year ago, Real Estate Weekly published an article entitled “Brain Drain Decimating Appraisal Profession.” “There isn’t a child in the United States today who is saying, ‘When I grow up, I want to be an appraiser’,” said Marc J. Nakleh, a director at Cushman & Wakefield. But with the recovering economy, there has been an increased demand for appraisal services and the national Appraisal Institute is seeking to draw a younger demographic to the profession with new education programs and professional designations.
Debt & Equity

Eastern unlocks $40M in East Coast cash

REW Staff
by REW Staff3823
Commercial mortgage brokerage firm Eastern Union Funding announced that it has arranged approximately $25 million in financing for commercial real estate properties in Bronx, New York. The company arranged another $14 million for projects in the Philadelphian area in recent weeks also. Select transactions include $11 million to refinance a...
Debt & Equity

Lenders compete for $17M deal

REW Staff
by REW Staff4119
Cushman & Wakefield announced that it served as the exclusive advisor to a Connecticut-based real estate fund manager in arranging a $17 million fixed-rate loan for Tower Point at the Highlands in Sparks, M.D. The five-year financing was provided by J.P. Morgan. Tower Point at the Highlands is a 162,646-s/f...