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Finance
CMBS
CMBS Veteran Launches Advisory Firm
May 16, 2008
Frederick Fellows has established Basalt Capital L.L.C. (Basalt) in Chicago, Ill., an investment management company focused on commercial real estate debt securities, the firm has announced.
WestCorp, Equibase Partner to Pursue M-F Opportunities
May 15, 2008
Equibase Capital Group L.L.C. and WestCorp Management Group have partnered to create a strategic joint venture that will pursue multi-family investment opportunities throughout the United States.
CalPERs Adds Developing Bond Managers
May 14, 2008
According to the Euromoney Insitutional Investor, Money Management Letter has reported that The California State Teachers Retirement System has picked Access Capital Strategies, Community Capital Management and Leading Edge Investment Advisors to invest in bonds for it.
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Mortgage Banking
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.
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Investment Banking
Rebuilding Downtown JPMorgan Chase WTC Development Plans in Doubt
May 15, 2008
Has JPMorgan Chase finally backed off on plans to build an office tower at the World Trade Center site in lower Manhattan?
Simon to Sell $1.5B in Senior Notes
May 13, 2008
In a time when borrowing can be a daunting task, even for entities with sterling credit histories, companies are turning to other means to raise the capital they need, according to industry experts.
Rockwall I and II. JPG Takes 2 Bethesda Office Buildings for $80M
May 08, 2008
The JBG Cos. has bought two North Bethesda, Md., properties for $80 million. Together, the class A buildings contain 346,000 square feet. The are located on the Rockville Pike near the Montgomery Mall.
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Institutional Investment
1250 Broadway Closes with $215M Financing via Carlton
May 16, 2008
The deal for 1250 Broadway in New York City, as previously reported by CPN, has found funding through Carlton Advisory Services, which closed $215 million of acquisition and mezzanine financing for its acquisition, Carlton has announced.
GE Finances $67M for Offices
May 16, 2008
GE Real Estate has announced two office financing deals totaling $67 million.
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.
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REITs
1250 Broadway Closes with $215M Financing via Carlton
May 16, 2008
The deal for 1250 Broadway in New York City, as previously reported by CPN, has found funding through Carlton Advisory Services, which closed $215 million of acquisition and mezzanine financing for its acquisition, Carlton has announced.
Pair of SoCal Hotels Trade for $80M
May 14, 2008
R.D. Olson Development has sold two hotels in Southern California to Apple REIT 8 for a combined $80 million.
Allen & O’Hara Closes $73M Student Housing Bond Issue
May 14, 2008
Allen & O’Hara Development Co., the development subsidiary of Education Realty Trust Inc., has closed on a $73.4 million bond issue for the development of a student housing project at Indiana University of Pennsylvania.
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Net Leasing
ProLogis to Increase Presence in Fort Worth with New 2MSF Park
May 16, 2008
Later this year, Denver-headquartered ProLogis will commence development of ProLogis Park Fort Worth on a 130-acre site in the North Fort Worth submarket. At full build-out the industrial complex will encompass seven structures containing a total of 2.1 million square feet of distribution space.
suffolk Markland Acquires 47 Citibank Branches in $100M Sale-Leaseback
May 14, 2008
An Irish investment group, which market sources have pegged as Markland Holdings Ltd., has acquired 47 Citibank branches in the New York City metropolitan area for $100 million.
Busy Few Days for ProLogis with Development, Acquisition, Hiring News
May 14, 2008
The week is only half done and already ProLogis has announced plans for a 220,000-square-foot build-to-suit in Hungary, the purchase of 83 acres in Virginia, and the appointment of a new global executive.
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Lending
GE Finances $67M for Offices
May 16, 2008
GE Real Estate has announced two office financing deals totaling $67 million.
Financing in Place for Flex Property in Poway
May 16, 2008
With a $21 million loan in hand from Wrightwood Capital, the Emri Group will acquire a 144,000-square-foot flex building in Poway, Calif., about 20 miles outside of San Diego.
Crowne Plaza Amsterdam City Centre Sold
May 14, 2008
Acting for an institutional investor and InterContinental Hotels Group, Jones Lang LaSalle Hotels Inc. has completed the sale of the Crowne Plaza Amsterdam City Centre for approximately $111 million to joint venture HHR Euro CV.
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