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New lending to commercial property increased by over 50% in 2014 almost recovering to pre-crash levels as alternative lenders entered the market in record numbers. The De Montfort Commercial Property Lending Report showed loan originations leaping from £29.9bn in 2013 to £45.2bn last year, the highest figure since 2008's £49.8bn.

JPMorgan Chase Bank has provided New York developers Mack Real Estate Group and Wharton Equity Partners with a $68m loan for the development of a residential and retail tower in Miami, Florida. Mack Real Estate Group paid a reported $9m for the 1.3-acre site at 3635 Northeast First Avenue, 3604 and 3620 Northeast First Court in February 2014.

ICG-Longbow invested more than £365m in 18 transactions in the first three months of 2015. The firm also completed the investment of its two funds, the £700m 2013 UK Real Estate Debt Investment III and the £400m 2014 Senior Secured UK Property Debt Investments.

Quadrant Real Estate Advisors has placed a $135m construction-to-permanent loan for the development of The Broe Companies' Country Club Towers II in Denver, Colorado, Real Estate Capital has learned. The 25-year loan from French multinational bank AXA carries a 64% loan-to-value, 1.69X debt-service coverage ratio and 30-year amortization with 10 years of interest-only payments.

Santander is selling a €170m portfolio of hotel loans, Project Formentera. The loans are backed by 17 properties located across Spain. Twelve of the 17 hotels are in the southern city of Valencia and tourist hotspot the Canary Islands.

Northwestern Mutual Life Insurance Company has provided Alliance Residential with a $38m mortgage on the Broadstone Cypress Hammocks apartment complex in Coconut Creek, Florida. Northwestern Mutual’s fixed rate loans, typically non-recourse, carry a minimum five-year duration and maximum 75% loan-to-value. The lender and borrower did not respond to requests for additional comment. Alliance had reportedly […]

ICG-Longbow’s Fund IV has reached a first close of £364m with £50m coming from its balance sheet and further closes expected in the year ahead, according to parent company Intermediate Capital Group’s annual results to 31 March 2015. Total real estate funds under management grew 112% to €2.7bn. ICG raised another £500m for its real estate senior debt strategy taking the total amount to deploy to £650m. It also signed a £202m mandate to invest in UK real estate development.

Brookfield Asset Management has placed a $240m construction loan on 180 Water Street in Downtown Manhattan, where Emmes Asset Management is converting a 25-story, 476,000 sq ft office building into a multifamily residential property. Brookfield will reportedly syndicate the loan and retain a mezzanine portion. Emmes paid $151m for the property in July of 2013 backed by a $90m loan from Bank of America.

Morningstar and Kroll Bond Rating Agency (KBRA) have issued preliminary ratings on Progress Residential 2015-SFR2, a $438.7m securitization of 3,317 single-family rental (SFR) homes. The rating agencies awarded a ‘AAA’ rating to the $229.9m top tranche of the securitization, which marks the third SFR issue under borrower Progress Residential and the 19th single-borrower SFR securitization.