Finance Mortgage Banking
Brookfield Real Estate Services Fund Announces Interest Rate Swap Agreement
May 5, 2008

Brookfield Real Estate Services Fund has announced that it has completed an interest rate swap agreement with the Canadian Imperial Bank of Commerce, which fixes the interest rate on its recently completed $15 million term facility at 4.29 percent with effect from April 7, 2008. As previously announced, the $15 million facility was completed on April 4, 2008 with the CIBC, bearing interest in the form of floating prime rate payable quarterly, or at bankers' acceptance rates plus 1 percent with terms of up to six months. The facility matures on February 17, 2010, the same date as the Fund's existing $38 million long-term debt obligations.

 
Recent Mortgage Banking Headlines
Corus, Lehman Bros. Make D.C. Loans
May 15, 2008
Corus Bank closed a $72 million loan to MR BP Office #1 L.L.C. to finance the construction of a nine-story Class A office building located at 55 M Street SE in Washington, D.C.
$41M Financing Deal Closes for Dallas-Area MF
May 14, 2008
A financing package valued at approximately $41 million has been put in place for the 600-unit St. Marin/Karrington Apartments complex in Coppell, Texas, about 30 miles from downtown Dallas.
NorthMarq Arranges $49M Mortgage for Point Niguel
May 13, 2008
Michael Elmore of NorthMarq Capital, Inc.’s Los Angeles Regional office, arranged first mortgage financing of $49 million for Point Niguel, a 324-unit multi-family complex, located in Laguna Niguel, Calif.
larimer $145M Construction Loan Set for Denver Tower
May 13, 2008
The Dallas office of Holliday Fenoglio Fowler L.P. has announced that it arranged a $140 million construction loan for 1800 Larimer.
Meruelo Maddux Battles Financial Woes
May 12, 2008
Ahead of releasing its first quarter 2008 financial results after the market closes tomorrow, Downtown Los Angeles landlord Meruelo Maddux Properties Inc. has been taking steps to battle debt woes and a depressed stock price.
 

 

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