Finance Mortgage Banking
WaMu to Raise $7B, Shutter Some Stores
April 9, 2008

Washington Mutual Inc. has announced that it entered into definitive agreements to raise an aggregate $7 billion through direct sale of equity securities to an investment vehicle managed by TPG Capital, and to other investors, including many of WaMu's top institutional shareholders. TPG's investment vehicle, as anchor investor, will purchase $2 billion in newly-issued WaMu securities. Last year, WaMu took steps to realign its home lending business primarily into its core retail banking network and to reduce the size of its other home lending operations. Today, the company announced plans to further its retail-focused strategy by: Investing in and growing its retail bank branch and call center production; closing all of its freestanding home loan offices; and exiting wholesale lending.

 
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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