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Cornerstone Real Estate Advisers has sold a San Mateo, California office property for $95 million -- $30 million more than the price the firm paid for the asset in 2013.
Cornerstone Real Estate Advisers has hired former ACORE Capital employee Joham Tavera to originate mezzanine loans, preferred equity, bridge loans and B-notes, primarily in the Western US markets, as Vice President of Alternative Investments.
The acquisition greatly expands the commercial loan origination platform at Cornerstone, nearly doubling the company’s multifamily loan portfolio from approximately $5 billion to $10 billion.
Cornerstone Real Estate Advisers Europe has provided an £80 million loan to student accommodation provider Empiric Student Property to refinance a portfolio of UK operating assets.
Cornerstone Real Estate Advisers has provided an £87 million loan to PPHE Hotel Group to refinance the Park Plaza Victoria hotel in London.
Lending margins in the German commercial real estate market are as low as 80 basis points over three-month Euribor.
Cornerstone Real Estate Advisors provided $260 million in construction financing for the West Hollywood EDITION Hotel & Residences, a luxury hotel and condominium development located in West Hollywood, California.
Cornerstone Real Estate Advisers Europe has continued its European expansion drive with the appointment of former Standard Life Investments portfolio manager Séverine Laffineur as Head of France.
Cornerstone Real Estate Advisers Europe has appointed Rachel Arden-Davis as its finance and operations director for pan-European funds. Arden-Davis joins from AXA Real Estate, where she has spent 10 years rising to become senior fund controller. Prior to that, the chartered accountant spent eight years with PricewaterhouseCoopers, both in Frankfurt and London, where she managed transactions for private equity and corporate clients.
Cornerstone Real Estate Advisers has provided a $226.6m loan backing 45 Broadway in Downtown Manhattan, part of an unprecedented lending spree from the firm over the last several weeks.
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