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Listed industrial property specialist SEGRO has renegotiated a total of €780 million of unsecured bank facilities with nine existing lenders and new lender Wells Fargo.
CRE lenders are scrutinizing borrowers more rigorously than at any previous point this real estate cycle, delegates heard today at accounting firm WeiserMazars LLP’s New York Commercial Real Estate Summit in Manhattan.
The volume of new lending by Aareal Bank’s structured property finance division during Q1 2016 was just half of the volume originated during the same period last year.
The Children’s Investment Fund (TCI) has made its first loan on a tower in central London, backing Almacantar’s Marble Arch Place scheme with a whole loan of close to £350 million, Real Estate Capital can reveal.
The firm sourced the capital for the MRC Debt Fund III LP from public and corporate pension funds, foundations, endowments, family offices, and wealth managers.
Funds managed by the two groups secured the loan from a government-sponsored enterprise (GSE) lender for the acquisition of a 15-property multifamily portfolio.
Paul Deitch, a former managing director at investment firm Oaktree Capital Management, has joined commercial real estate debt platform Patch of Land as CEO.
The AAA notes indicatively priced at 120-130 basis points over three-month Euribor.
Sweeping wildfires have led Fitch Ratings to place six CMBS transactions backed by properties in Alberta, Canada on watch. The wildfires, ignited by an unusually dry winter, have been ravaging the oil town of Fort McMurray in Alberta, Canada the past several days.
Lightstone purchased both properties from Pan Am Equities for a total of $127.5 million, city property records show, bringing the deal's loan-to-value to 66 percent.