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M&G Investments has provided a £140m, five-year refinancing facility to Cosgrave Property Group for The Liberty Shopping Centre in Romford, Essex. M&G is also providing an extra £13m for the partial redevelopment of the centre.
Northwestern Mutual has provided Rockwood Capital with a $40m loan for the refinancing of The Gantry, a residential rental building in San Francisco, California, Real Estate Capital has learned.
Deutsche Bank AG, New York Branch has provided the financing backing Princeton International Property and its partners’ $170m acquisition of a 14-story, 200,000 sq ft commercial building at 111 East 59th Street in the Lenow Hill neighborhood of Manhattan.
The European Banking Authority’s (EBA) proposed rules on slotting have come under fire from banking and real estate groups fearful of more onerous regulation. The EBA wants to standardise the slotting regime across the EU and is proposing to specify what factors should be taken into account and how they should be combined to determine the appropriate risk weights of loans.
New York Life Insurance Company is backing Cornerstone Real Estate Advisers’ $270m acquisition of downtown Manhattan’s 100 Wall Street.
Wells Fargo has provided an unsecured £75m revolving credit facility to Derwent London. The five-year facility can be extended by up to two years and can be increased by £25m during its term.
Maryland-based Corporate Office Properties Trust has purchased the 37-story Transamerica Tower at 100 Light Street for $121m, assuming with it $55m of debt provided by Northwestern Mutual.
Three new cities representing traditionally smaller markets have jumped into the top five list of CMBS issuers during the first half of this year, knocking mainstay Chicago, Illinois off the list, among others.
In one of the largest transactions closed to date through CBRE Group’s Federal Housing Administration (FHA) lending platform, the firm has originated a $51m loan for the refinancing of The Meridian at Stanford Ranch, a luxury apartment complex in Rocklin, California, Real Estate Capital has learned.
A 45% jump in loan originations to $3.5bn in Q2 helped Walker & Dunlop report record earnings and revenues, but the dynamic between the company’s robust agency lending business and its more recently-formed CMBS joint venture remains a double-edged sword.
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