M&T Bank has provided a $26m loan to Cayuga Capital Management for the refinancing of three Brooklyn multi-family rental properties, Real Estate Capital has learned.
AXA Real Estate Investment Managers has reached a final close of €2.9bn on its latest pan-European debt fund, Commercial Real Estate Senior 9 (CRE9), breaking through its €2.5bn target.
Italian banking group Intesa Sanpaolo has funded Hamburg-based ECE’s second Italian investment, the acquisition of the shops at La Cartiera shopping center in Pompei, with an $80m first mortgage loan.
After a disconcerting June and a ‘whiff of volatility,’ the US CMBS delinquency rate has resumed its descent, according to the latest report from data and research firm Trepp.
European carpark operator Q-Park has signed a €925m credit facility with a syndicate of five banks.
The new loan refinances an existing €1.15bn facility which would have matured in October 2016. The company has been reducing its total leverage and its average effective interest, which was 4.9%. Its debt is secured on property valued at around €1.4bn.
Syndicated real estate loan volumes jumped by almost a third to €27.6bn for the first half of 2015 compared to the same period last year, according to Dealogic.
In its second survey of the EMEA real estate loan syndication market since the global financial crisis, Dealogic reported that the number of deals was also up - to 75 for 1H 2015 compared to 71 for 1H 2014. The survey canvassed 26 lenders.
Ireland Strategic Investment Fund (ISIF) and KKR Credit have joined forces to establish a €500m lending vehicle that will finance house-building schemes in Ireland, the firms said in a joint statement.
ISIF backed Activate Capital with €325m, while KKR Credit invested the remaining €175m. ISIF was established in June 2013 to replace the National Pension Reserve Fund and the new joint venture is its largest investment to date.
Strategic Hotels & Resorts has acquired the remaining 49 percent ownership interest in the JW Marriott Essex House hotel from KSL Capital Partners for $84.6m in stock, assuming with the deal a $225m loan from MetLife that was used to refinance the property in December.
The centuries-old fine art auction house Sotheby’s has refinanced the 10-story property it headquarters and owns on Manhattan’s Upper East Side with a $325m loan from HSBC and the Industrial and Commercial Bank of China.
Prudential Mortgage Capital Company has provided a nearly $166m loan to Colony Capital to refinance a 25-property light industrial portfolio with buildings in Atlanta, Dallas, Denver, Houston and Minneapolis. The 10-year, fixed-rate loan backs 4m sq ft of space that is 97% leased to 69 tenants. The properties are made up mostly of distribution space and the […]