JPMorgan Chase is the lender on a $46.55 million financing to Unico Properties on three-property Platte Street Portfolio and an adjacent office development site in Denver, Colorado, county records show.
The bank provided the seven-year, floating rate loan to LaSalle Investment Management to refinance existing debt on the property.
The loan went to an affiliate of the Saudi investment firm Sidra Capital which purchased the property from Lincoln Property Company, county records show. Sidra reportedly paid $130 million for the property, bringing the financing’s loan-to-value 53.8 percent.
The bank provided the 10-year fixed rate loan on the 25-story building at 180 Montgomery Street to Sidra Montgomery, LLC, according to CBRE Capital Markets, who helped arrange the deal.
While the transaction has above average concentrations of hotel loans, which are more likely to default, it also has an overall lower than average loan-to-value, according to Fitch.
JP Morgan has recruited Alexander Storton from rival Bank of America Merrill Lynch to beef up its European real estate debt distribution capability, Real Estate Capital has learned.
Walker & Dunlop has provided $154 million in Freddie Mac financing against Solow Residential’s Two Sutton Place North at 1113 York Avenue on Manhattan’s Upper East Side.
Lending margins in the German commercial real estate market are as low as 80 basis points over three-month Euribor.
ING and JP Morgan have been ranked as the most active banks in the syndicated European real estate loan market during 2015 by financial information provider Dealogic.
Hammerson is funding its share of the purchase of NAMA’s €1.85bn Project Jewel with a new short-term €1bn revolving credit facility from its existing lenders. The facility, which matures in March 2017, reflects a loan-to-value of 81% on Hammerson’s €1.23bn share of the overall purchase price.