BMC Investments received a $26.4m loan from Freddie Mac for its acquisition of the Lakeview Apartments in Westminster, Colorado. The 10-year (three years interest only) loan carries a 3.65% fixed-rate. BMC paid a reported $32m for the property, putting the loan-to-value at more than 82%. The seller, Belgarde Enterprises of Minneapolis, paid just $4.4m for the property in 1993. […]
RailField Realty Partners and Artemis Real Estate received a $44.6m loan from Fannie Mae for the acquisition of Signature Ridge, a 612-unit, Class A multifamily community in San Antonio, Texas.
The 10-year floating-rate loan (five interest-only). The acquisition price was not disclosed, but broker CBRE put the loan-to-value around 70%, valuing the asset at nearly $64m.
The formal process to privatise Deutsche Pfandbriefbank has begun with its owners appointing investment banks Citigroup and Deutsche Bank.
Lloyds has extended the loan held against the Valad Europe’s University Capital Trust. The bank has provided a £42m facility held against the five-asset vehicle, which reflects a loan-to-value of 43%. The previous £37m loan secured against the portfolio was due to expire at the end of last year and has been extended by two […]
Venn Partners has established a Dutch residential mortgage origination arm and plans to expand its lending in the country to €1bn by the end of the year.
Hotel fundamentals are exceeding peak levels and destined for uncharted territory if positive economic forecasts pan out and lenders can maintain their discipline.
Data from Jones Lang LaSalle shows that RevPAR -- or revenue per available room -- in 85% of the top 25 markets has already exceeded the peak from last cycle. Average national RevPAR of $76 as of November was $10 higher than the 2006 peak; and average daily rate (ADR) of $116 is almost $10 greater than the 2007 peak.
Royal Bank of Scotland has provided one of the largest speculative development loans this cycle in the UK, Real Estate Capital can reveal.
Four Pancras Square croppedThe £100m ticket will be used to build 170,000 sq ft Four Pancras Square at the King’s Cross Central scheme in London. The debt reflects around 55% of the construction cost, which will be in the region of £180m. It is “the first of what is hoped will be a series of financing solutions from RBS” said the borrower, the King's Cross Central Limited Partnership.
The first major portfolio acquisition of non-core Dutch housing association stock has been financed by Deutsche Hypo, ING Real Estate Finance and pbb Deutsche Pfandbriefbank with a €331m loan.
BNP Paribas has provided a £90.4m senior loan to Tishman Speyer for its purchase of 100 New Oxford Street in London’s West End.
100 Oxford Street croppedThe facility has a maximum term of six years and includes a £5m tranche to cover costs while the property’s existing vacancy is leased up. It reflects a loan-to-value of nearly 70%.
David Metalonis has joined Lionheart Capital as chief investment officer, the Miami-based real estate investment firm known for its Ritz-Carlton residential projects announced today.
The former senior vice president and partner for Colliers International will oversee acquisitions, dispositions, procurement of debt and equity funding. Metalonis has $1.5bn in transaction volume under his belt and brings 12 years of real estate experience to Lionheart.