Category : Debt & Equity

Construction & DesignDebt & EquityResidential

Ironstate, Panepinto land $155M loan for second Jersey City apartment tower

REW
by REW1434
Holliday Fenoglio Fowler, L.P. secured $155.83 million in financing for the development of 90 Columbus, a 539-unit, 50-story, Class A apartment tower in Jersey City, New Jersey. HFF worked exclusively on behalf of Ironstate Development and Panepinto Properties, Inc. to secure the construction loan through a national commercial bank. The...
Debt & Equity

What you need to know about vapor intrusion

REW
by REW1290
By Josh Simon, Vice President, EBI Consulting In an industry built on transactions, deal flows, and originations, someone needs to provide checks and balances when there is cause for concern. EBI Consulting has built its business on physical due diligence for commercial real estate, assessing collateral for engineering and environmental...
Report: Over-priced closings costing New Yorkers $155M a year
Debt & EquityLawsuitsResidential

Report: Over-priced closings costing New Yorkers $155M a year

REW
by REW1141
New York State property buyers over-spent on title insurance by an estimated $155.3 million, according to a new report. The costs piled up because too many people believe title insurance rates are set by law, said Daniel C. Price, co-founder, of OneTitle, a direct title insurance underwriter that conducted the...
Debt & Equity

TRANSACTIONS: GCP Capital Group arranges $68M in mortgages; Brooklyn building refinances in Eastern Union deal

REW
by REW899
Meridian Capital announced the following transactions: • $4 million in permanent financing to refinance a 5-property mixed-use portfolio in Boerum Hill, Brooklyn. The 10-year loans, provided by a balance sheet lender, feature fixed rates of 3.60% and 30-year amortization schedules. These transactions were negotiated by Jason Weber. The properties are...
Debt & Equity

MRC recaps long-delayed East Village dorm project

REW
by REW1395
A long-delayed plan to convert a former East Village school into a college dorm looks set to go ahead. Madison Realty Capital (MRC) announced it provided a $44 million first mortgage loan to “recapitalize a student housing developmentˮ at 350 East 10th Street in the East Village. The project will...
Debt & Equity

Meridian arranges $14M refinance on Prince Street property

REW
by REW991
Meridian Capital Group arranged $14.4 million in permanent financing for the refinance of a mixed-use property in SoHo. The five-year loan, provided by a balance sheet lender, features a fixed rate of 3.50 percent, 18 months of interest-only payments and a five-year extension option. The transaction was negotiated by managing...
Debt & Equity

C&W recaps debt on East Village apartment buildings

REW
by REW1125
Cushman & Wakefield secured a $12 million loan for 111-113 East 12th Street in the East Village. The loan featured a five-year term at 3.25 percent, with a 30-year amortization. Cushman & Wakefield’s John Leslie exclusively handled the transaction with Patrick Rhea. The lender was BankUnited. “We were able to...
Investor network pumps $1.4B into Madison International Realty fund
Deals & DealmakersDebt & Equity

Investor network pumps $1.4B into Madison International Realty fund

REW
by REW2006
Madison International Realty announced the closing of its newest fund at $1.39 billion. The investment company has already deployed $400 million into Hudson’s Bay Company property at 550 Kearny Street, in San Francisco, and St. Stephen’s Green, a shopping center in Dublin, Ireland. Madison International Real Estate Liquidity Fund VI...
Cornerstone elbows into affordable lending with $93M buy
Deals & DealmakersDebt & Equity

Cornerstone elbows into affordable lending with $93M buy

REW
by REW1294
Cornerstone Real Estate Advisers, one of the world’s largest real estate-focused investment managers, announced an agreement to acquire ACRE Capital Holdings, the lending subsidiary of Ares Commercial Real Estate Corporation for $93 million. ACRE Capital originates and services multifamily residential mortgage loans, senior housing and healthcare facility loans by utilizing...
City gets into distressed mortgage biz to save zombie homes
Debt & EquityResidential

City gets into distressed mortgage biz to save zombie homes

REW
by REW1270
Over 40 home-owners are about to be rescued from foreclosure under a first-of-its-kind city program to buy their distressed mortgages. New York is among the first cities in the nation to buy mortgages from the Federal Housing Adminstration as part of a continued clean up from the housing crash. “We...