Investor refinances Brooklyn multifamily portfolio
Greystone provided a total of $11 million in Fannie Mae loans to refinance a portfolio of multifamily properties in Brooklyn.
Category : Debt & Equity
JV bags $95M to reposition Garment District trio
A joint venture looking to rejuvenate a trio of Garment District office buildings has secured $95 million in financing to get the job done.
Hampshire Companies invests in first O-zone
The Hampshire Companies acquired 250 Essex Street in Hackensack, N.J.
Bay Ridge senior housing gets $102M loan
The 10-year, fixed-rate loan will be used by the borrower to acquire the property, complete repairs related to green efficiency upgrades and cover transaction costs.
Rego Park mall refinanced with $252M loan
Vornado-managed REIT Alexander’s announced that it has completed a $252.5 million refinancing of its 609,000 s/f Rego Park II shopping center in Queens. The interest-only loan is at LIBOR plus 1.35%, currently 3.77%, and matures in December 2025. The proceeds of the new loan were used to repay the existing...
Carson leading effort to jumpstart Opportunity Zone development
Department of Housing and Urban Development (HUD) Secretary Ben Carson has been named chairman of a new White House Opportunity and Revitalization Council. The group includes representatives from 13 federal agencies and will co-ordinate federal efforts relating to Opportunity Zones and work to prioritize such neighborhoods for grant funding, loan...
Greystone provides $32M multifamily HUD loan
Greystone announced it has provided a $32,272,000 HUD-insured loan to refinance Central Park Metropolis, a 304-unit multifamily property in Plainfield, Indiana. The transaction was originated by Eric Rosenstock of Greystone’s New York office. Located in the heart of Plainfield, Central Park Metropolis offers luxury one, two, and three-bedroom units located...
Report: Strong economy should lift all CRE sectors in 2019
Sustained momentum from the U.S. economy’s extended economic expansion bodes well for major commercial real estate asset classes in 2019, according to CBRE’s 2019 Real Estate Market Outlook, The new year promises additional allocation from institutional and international investors, a hunt for opportunities in secondary markets, and robust construction completions...
SL Green recaps 2 Herald Square, inks flurry of leases
SL Green Realty Corp. has secured $150 million of first mortgage financing for 2 Herald Square, and sold a 49 percent partnership interest to an Israeli institutional investor. The recapitalization is the first step of a value-add capital program that will restore iconic status to the building located on one...
Procida fund finances urban renewal development
New Jersey based commercial real estate lender, Procida Funding, provided a $9,200,000 pre-development/early stage construction loan to Middlesex Residential Urban Renewal, LLC, on behalf of The 100 Mile Fund which Procida exclusively manages, to revitalize Lincoln Boulevard in Middlesex, NJ. Forte Real Estate Development is an impact Real Estate development,...