M&G Investments has provided a £22m, 35-year facility to Staffordshire Housing Association.
The loan will be used to refinance the housing association’s existing debt as well as develop 200 new social housing homes in the Staffordshire region of the West Midlands.
Real Estate Capital’s US-based website editor, Al Barbarino, has won Gold at the National Association of Real Estate Editors’ 65th Annual Real Estate Journalism Awards.
Commerzbank plans to sell another €6.5bn of commercial real estate debt by the end of next year after reducing its loan book by 17% this week.
The German bank will begin further reductions next year to its current €14.5bn commercial property loan book and expects to have it down to about €8bn by the end of 2016.
Indian developer Sobha Group and investment manager RootCorp have launched a new fund targeting real estate assets, development debt and project equity in India.
The India Debt and Yield Opportunities Fund is aiming to raise $300m and will target a return of 20%.
Apollo Commercial Real Estate Finance (ARI) seeks to syndicate $234m of a $325m mezzanine loan it closed for the construction of a supertall condominium development at at 111 West 57th Street in Midtown Manhattan.
Brookfield Asset Management has sold the $180m first mortgage backing the conversion of 180 Water Street in Downtown Manhattan to Capital One, who in turn has syndicated the loan to CIT Group and Santander Bank.
Bank of the Ozarks provided a $25m loan for Slate Property Group’s planned 19-story, mixed-use rental project with nearly 30,000 sq ft flagship retail at 1 Flatbush Avenue in Downtown Brooklyn, Real Estate Capital has learned.
Major investors holding out on investments until November’s general election are causing an outcry from certain Spanish investment agents.
HSH Nordbank has provided a €288m loan for Sunrise Properties’ €360m purchase of the Sunrise portfolio of German assets. The three-year facility reflects a loan-to-value of 80%.
Beech Street Capital has provided $45m to a joint venture between the Commonwealth Group and Emory Hill Companies for the refinancing of Christiana Meadows, an apartment community in Bear, Delaware.