Category : Debt & Equity

Debt & Equity

Commercial borrowers ready to get back into hock, says survey

REW Staff
by REW Staff5214
Borrowers are expecting to get back in to hock this year as bank lending standards loosen. According to the NREI’s Ninth Annual Borrower Trends Survey, borrowers are expecting favorable conditions throughout 2013. The survey results show that 55 percent of commercial borrowers expect their debt to increase in 2013, with only 17 percent expecting their debt load to contract.
Debt & Equity

CIT arranges $36M financing for Garrison Investment Group

REW Staff
by REW Staff4874
CIT Group Inc., a leading provider of financing and advisory services to small businesses and middle market companies, provided a senior secured loan to Garrison Investment Group, a middle market credit, asset based and real estate investor located in New York City. The loan is secured by 12 recently acquired community and neighborhood shopping centers based in the Midwest. CIT Real Estate Finance served as Lead Arranger for the transaction.
Deep pocketed Toll Brothers bringing it to the Big Apple
Debt & EquityFeatured

Deep pocketed Toll Brothers bringing it to the Big Apple

REW
by REW4456
Not many developers can boast that their liquid capital position is so strong that their almost billion dollar credit line can be considered ‘optional’. Not many, that is, that focus solely on residential. In New York, where space is always at a premium, commercial real estate, at least mixed use spaces, are king. And there are giants in this kingdom: The Rudin Management Company, Tishman Speyer and the Related Companies, as well as tons of foreign buyers looking for a safe haven for their capital. But what makes Toll Brothers Inc. (NYSE:TOL) unique in the ever changing city space is not that they have expanded their holdings here, but that they have done it so quickly during a financial crisis with all cash.
Debt & Equity

Survey: Next generation of investors more conservative

REW Staff
by REW Staff5699
Millennial investors are more conservative and less trusting of financial advisors than baby-boom and Gen X investors, according to an Accenture survey of more than 1,000 high-income, digitally savvy U.S. investors. The survey also revealed that millennials — those aged 21-30) are the most determined of the three generations to learn how to invest and pass along wealth to their families.
Debt & Equity

HFF arranges $72M refi’ for luxury Hoboken building

REW Staff
by REW Staff5628
HFF  has arranged a $72 million refinancing for The Vanguard, a 196-unit, luxury multi-family property with 37,818 s/f of ground floor retail in Hoboken, New Jersey. Working on behalf of Ironstate Development, HFF placed the 10-year, fixed-rate loan with a life company correspondent lender. Loan proceeds are refinancing an existing...
Debt & EquityHeadline

Banks bounce back with help from Feds

REW
by REW4797
U.S. banks made more last year than they lost during whole subprime meltdown – and the government helped them do it. According to Bloomberg LP, the four biggest U.S. banks collectively earned $2.4 billion from mortgages in 2012. That number outpaced the $2.1 billion these same banks had to dole out in loan modifications and settlements. “This is by design,” said Dr. Mark Zandi, chief economist at Moodys Analytics. “The Federal Reserve lowered interest rates and it cajoles people to take more risk. I think the Fed is pretty happy with that.”
Debt & EquityFeatured

Javits Center running on empty, warns board

REW
by REW7593
The Jacob Javits Center is limping along with handouts from insurers while relief funds from federal and state agencies have yet to materialize. After sustaining extensive damage from floodwaters during Hurricane Sandy, the board of the directors for the Convention Center warned that its future could be compromised if the situation is allowed to drag on much longer
Debt & EquityFeatured

Will housing pull us out of recession again? Bull run on stocks making it look that way

REW
by REW8646
With US stocks collectively in the midst of their largest Bull Run since 2007, the focus of media attention has been on how far past record highs can the Dow Jones Industrial Average (DJI) and the S&P 500 (INX) go this year. Friday, the S&P closed above 1500 points for the first time since 2008, its eighth straight positive trading day. The Dow, meanwhile, closed at 13805.98 on Friday, edging closer to its all-time record high of 14164.53, a milestone reached in October of 2007. But ever so quietly the performance of the Philadelphia Housing Sector Index (HGX), with strong earners like Lennar Corporation and Toll Brothers, have outdone the Dow, the S&P and the NASDAQ combined.
Debt & EquityFeatured

Panelists ponder where money comes from: is it time for an IPO boom?

Sarah Trefethen
by Sarah Trefethen8934
The commercial real estate industry may be due for a boom in public offerings, according to panelists at the NYU Schack Institute’s Capital Markets forum last week. “I think that when we look back a year from now we will have the potential to do more on the IPO side than we have in the past couple,” said Jeffrey D. Horowitz, head of global real estate, gaming and lodging at Bank of America Merrill Lynch. Horowitz cited a number of deals currently in the works that, if successful, could drive more companies to go public in search of funds. The past two or three years have seen four or five IPOs a year, according to Horowitz. “I think there’s more coming up from the private equity side where the platforms need to have a change, just because there is a cycle to investing,” he said.