Greystone has hired former Freddie Mac professional Jay Kirsch as a managing director to focus on production of Small Balance Loans (SBL) across the Freddie Mac and Fannie Mae platforms.
Deutsche Pfandbriefbank (pbb) is on target to top its 2014 real estate lending volumes this year, although the bank’s CEO warned that competitive market conditions and margin pressure will persist beyond 2015. The German bank’s new real estate lending, including loan extensions of more than one year, was €7.9 billion during the first nine months […]
Fitch-rated underperforming CMBS loans transferred to special servicing so far this year have experienced a sharp, 38 percent decline compared with last year.
MetLife has placed a $385 million loan to refinance the Hyatt Center office building in Chicago, Illinois.
Related Companies has made its first debt investment in the UK, taking a participation in the mezzanine tranche of Rocket Investments’ financing of the Atlas Building.
Rocket Investments put out a press release today saying it had sourced £240 million of senior and mezzanine development finance for Atlas, a 40-storey residential tower with 82,000 sq ft of offices and retail on City Road on the edge of the City of London.
Benson Elliot and two investing partners have financed the acquisition of four European hotels with €215 million of senior debt from Aareal Bank.
The private equity firm and its partners, Walton Street Capital and Algonquin, bought the assets in October from Host Hotels & Resorts as part of a €420 million deal involving eight hotels.
Irish REIT Hibernia has agreed a £400m revolving credit facility at close to 2% cost with three banks.
Bank of Ireland, Ulster Bank and Barclays are participating in the loan which Hibernia will use to replace an existing €100m RCF, to fund projects and make new acquisitions.
Four Corners Property Trust has entered into a $750 million credit agreement consisting of a five-year term loan facility of $400 million and a four-year revolving credit facility of $350 million with a consortium of banks in connection with its spin-off from Darden Restaurants, Inc.
Allianz has provided a $156 million loan to PNC Realty Investors for the acquisition of 333 West Wacker Drive in Chicago’s West Loop neighborhood.
US debt fund manager Quadrant Real Estate Advisors has teamed up with Ireland’s new state-owned investment company to make development loans in Ireland.
The Irish state-backed Ireland Strategic Investment Fund (ISIF), which is controlled and managed by NTMA (the National Treasury Management Agency), will invest up to €50m, matching €50m from Quadrant.