Ares is expanding its investor relations team with the hire of MetLife real estate executive Dhaval Parikh, according to Real Estate Capital's sister title, PERE.
Lloyds Bank Commercial Real Estate has arranged a £409 million financing package for family-owned investment firm Lazari Investments, combining medium and long-dated funding alongside three other lenders.
Despite challenging market conditions, a diverse array of organisations continues to provide finance to the European property sector. Real Estate Capital’s roll call of the most active lenders in European property finance today once again demonstrates the weight of capital available in the market.
The five-year, floating rate loan went to an affiliate of the KBS Growth and Income REIT, which purchased the asset from Unico Properties for $69 million, bringing the LTV to 68.7 percent.
The 10-year loan with a fixed interest rate of 4.25 percent went to Chesapeake Lodging Trust, which expects to use the financing to repay outstanding borrowings.
MetLife has provided a $170 refinancing on the Bristol apartment building in the Sutton Place neighborhood in Manhattan. The loan consolidated existing debt that the life insurance company provided the borrower in 2010 with a new $108.2 million mortgage, property records show.
AXA Equitable Life Insurance Company and Metropolitan Life Insurance Company provided $500 million for the refinancing of a 29-story office building at 31 West 52nd Street in Midtown Manhattan.
Metlife has provided a $50 million loan on a retail unit at 1 Irving Place, also known as the Zeckendorf Towers, Real Estate Capital has learned. The loan consolidates existing debt from MetLife with a new $29.8 million bridge loan. MetLife declined to comment on the financing.
America’s oldest industry offers stable returns for dilligent underwriters, reports Al Barbarino.
MetLife is preparing to expand its third-party institutional asset management platform to European commercial real estate lending, Real Estate Capital has learned.