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Across the 50 largest commercial mortgage-backed securities (CMBS) markets, $45.8 billion of $393.5 billion in outstanding balance is currently distressed, a balance-weighted rate of 11.6 percent, according to CRED iQ data. Minneapolis, Denver and Oklahoma City lead the distress rankings at 55.1 percent, 35.9…
Obelisk Real Estate Partners has secured $86.2 million to finance the acquisition of a three-building industrial portfolio in Charleston, South Carolina, Commercial Observer can first report. Barings provided the debt, while JLL’s Peter Rotchford, Christopher Peck, and Nicholas Thorton arranged the transaction. The…
RENO, NEV. — Newmark has arranged a $33.5 million Fannie Mae loan to refinance Ascent on Steamboat, a 204-unit community in Reno owned by Elan Multifamily Investments. Newmark’s Lowell Takahashi… The post Newmark Arranges $33.5M Fannie Mae Loan for Ascent on Steamboat in Reno, Nevada appeared first on Multifamily &…
Standard Chartered has led a €550m senior term loan for a portfolio that has quietly become one ...
PGIM analysis of securitized product market conditions, trends, and investment positioning for the first quarter.
PGIM examines middle market direct lending strategies, analyzing opportunities, advantages and common misconceptions in the asset class.
Analysis of how public and private credit markets are becoming increasingly interconnected and blurred in their characteristics and investment dynamics.
PGIM explores structural trends and implications of the convergence between public and private credit markets.
A West Loop office tower has defaulted on a $343M Blackstone-originated loan, signaling distress in the Chicago office market.
Illinois Teachers Retirement System committed capital to a Locus Point-managed healthcare real estate debt fund with a $750 million target.
Attorney Jung Bo-geun explains seller financing as a form of private lending in Korea's property market, its legal status as a quasi-loan, and the risks under the Lending Business Act and Interest Limitation Act.
Fannie Mae is extending its Chicago foreclosure assault against properties connected to Lakewood, New Jersey-based investor Chaim Bialostozky, who’s also facing Walker & Dunlop’s accusations of making fraudulent real estate deals to receive inflated loan amounts. Fannie on Thursday filed a fresh lawsuit against…
An apartment complex in Sumner received a $52 million refinance loan.
Korea's party and government weigh tax reform revisions amid public backlash, while Hana Bank halts variable-rate mortgages and Seoul Mayor Oh Se-hoon clashes over housing supply policy.
Newmark said Friday it has advised on the sale and arranged $155 million in acquisition financing for 10 E. 53rd St., a 385,224-square-foot Class A office tower in Manhattan’s Plaza District. Meadow Partners acquired the property from seller SL Green Realty Corp. for $312 million. The acquisition loan was provided…
Underwriting expectations for occupancy during the multifamily market's post-pandemic boom reflected the strong demand that characterized the market in 2021. Record apartment deliveries in the years since have reshaped market conditions, creating a widening gap between those expectations and current occupancy…
Mesa West Capital has provided Timberlane Partners with a $52 million short-term, first-mortgage loan to refinance Sumner Mill Apartments, a 162-unit multifamily community in Sumner, Washington. Delivered in 2024 by the sponsor, Sumner Mill Apartments is a 3.89-acre garden-style community located at 5816 162nd…
RXR, together with Halpern Real Estate Investments, Korman Communities and Invent Development Partners, secured $125 million in construction financing for AVE Station House, a 301-unit luxury multifamily development in Denver, Colorado. The property was financed with a $100 million senior loan from Madison Realty…
Commercial and multifamily mortgage loan originations were 16% higher in the second quarter of 2026 than in the year-ago period, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. Dollar volume increased 12% from Q1 of 2026, MBA said.…
Moshe Popack’s YMP Real Estate Management has secured $30 million to refinance Park Towers, a 210-unit multifamily complex in Miami, Commercial Observer can first report. Valley National Bank provided the loan, structured at a fixed-rate of 6.09 percent, while Meridian Capital Group’s David Hayum and Michael…
DESOTO, TEXAS — Marcus & Millichap Capital Corp. (MMCC) has arranged an $8.2 million loan for the refinancing of Grizzly Self Storage, located in DeSoto, a southern suburb of Dallas. The number of units was not disclosed, but Grizzly Self Storage spans 132,265 net rentable square feet and offers both personal and…
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Multifamily has become a more important component of conduit commercial mortgage-backed securities (CMBS) at the same time that recent-vintage performance has become harder to generalize. Multifamily represented roughly 20% to 23% of conduit securitization balance in 2024 through July 2026, compared with only 7% in…
Harbor Group International has bought Emerald Palms, a 505-unit garden apartment complex near Zoo Miami in Kendall, for $109 million from Milestone Group, which paid $107 million for the same property in 2021. The South Florida Business Journal reports the buyer assumed the seller’s mortgage, which Berkeley Point…
SAN BERNARDINO, CALIF. — Commercial mortgage banking firm PSRS has arranged a $11.2 million loan for the refinancing of a nine-story office building in San Bernardino. At the time of financing, the 126,000-square-foot property was 89 percent leased to tenants such as the Internal Revenue Service (IRS) and the City…
Takeaway: Mortgage rates will see a little relief today on the heels of a weak jobs report that may delay anticipated hikes from the Fed. The economy unexpectedly lost jobs in July, the second month in a row of surprisingly weak data, casting doubt on the theory that the labor market has rebounded. The economy […]…
Invictus Real Estate Partners has secured $67.2 million to refinance Eliot on Ocean, a 194-unit multifamily property in Revere Beach, Mass., a coastal submarket five miles outside of Boston. Bridge Investment Group Holdings provided the debt, structured as a three-year, floating-rate loan, while a JLL Capital…
SUMNER, WASH. — Mesa West Capital has provided Timberlane Partners with a $52 million short-term, first-mortgage loan to refinance Sumner Mill Apartments in Sumner, approximately 30 miles south of Seattle. Joshua Westerberg led the Mesa West Capital team that originated the loan. Jake Roberts of BWE’s Los Angeles…
SAN BERNARDINO, CALIF. — PSRS has arranged a $11.2 million loan for refinancing for a nine-story office building in San Bernardino. At the time of financing, the 126,000-square-foot property was 89 percent occupied, as it has been since 2000. Tenants include the IRS and the City of San Bernardino. Jacob Lee and…
Rattled by party-exit selfies over its real estate tax reform, Korea's government and ruling party weigh looser home loans for youth and non-homeowners and revitalizing redevelopment.
TPG AG U.S. Real Estate and Redfearn Capital have acquired a 5.4 million-square-foot industrial portfolio for $628 million, Commercial Observer can first report. The seller was DRA Advisors, while BDT & MSD Partners provided a $479 million loan in the deal, sources said. The 53-building portfolio, which is roughly…
Transitional lending was once viewed as a temporary financing solution. Today, it’s becoming a core strategy for life insurers as banks continue moving out of commercial real estate lending, according to a new report from Nuveen. The report said that lower property valuations, tighter banking regulations and a wave…
Across the 50 largest CMBS markets, $45.8 billion of $393.5 billion in outstanding balance is currently distressed, a balance-weighted rate of 11.6%. Minneapolis (55.1%), Denver (35.9%), and Oklahoma City (34.1%) lead the rankings, each shaped by a handful of very large loans rather than broad weakness, while Salt…
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JLL Capital Markets arranged permanent financing for a fully leased industrial facility at 111 Fieldcrest Ave. in Edison, NJ, within the Exit 10 submarket. Senior managing director Michael Klein, senior director Max Custer and analyst Kevin Badger. worked on behalf of the borrower, Summit Associates Inc., to secure…
Granite Point Mortgage Trust Inc. has refinanced the assets in its two remaining CRE CLOs, GPMT 2021-FL3 and GPMT 2021-FL4, on its JPMorgan Chase Bank, N.A. repurchase facility, which it recently extended to July 2028, with three one-year term extension options. In connection with the refinance, the company upsized…
BrightSpire Capital is in danger of losing its grip on a suburban Chicago retail property, after a DuPage County judge appointed a receiver to take control, in a foreclosure lawsuit over a $31 million securitized commercial loan that fell into default. Judge Robert G. Gibson named Chris Neilson of Dallas-based…
Basis Investment Group, LLC has provided a $19.95 million bridge loan to refinance the existing debt, support the continued stabilization, and fund remaining tenant-improvement and leasing costs at Wolff Court, a four-story complex in Philadelphia, Pennsylvania. Located at 501 E. Girard Avenue, the property is a…
A CBRE team led by Matthew Klauer advised Kensico Properties on the refinancing of The Lowell Hotel, the 74-key luxury boutique hotel located on Manhattan’s Upper East Side. Blue Owl Capital has provided a $106-million senior loan replacing the existing debt on the lodging property at 28 E. 63rd St., which has been…
Gantry has secured a $14.6 million construction-to-permanent loan for the Milano Issaquah Apartments, planned for delivery at 2300 Newport Way NW in Issaquah, just east of Seattle, Washington. Strategically located within the Central Issaquah Plan Area near major local employers, including Costco’s global…
JLL Capital Markets arranged a $67.256-million refinancing for Eliot on Ocean, a 194-unit multifamily property at 660 Ocean Ave. in Revere Beach, MA. Senior managing directors Scott Aiese and Tom Sullivan and director Alex Staikos represented the borrower, Invictus Real Estate Partners, in securing a three-year,…
Berkadia Miami’s Brad Williamson, Scott Wadler and Michael Basinski, along with Mitch Sinberg, Matt Robbins, and Jacob Kelly, secured the financing on behalf of RIVANI. BridgeInvest provided the loan.
Scott Rechler’s RXR continues to secure capital from institutional lenders. RXR, together with joint venture partners Halpern Real Estate Investments, Korman Communities and Invent Development Partners, has secured $125 million in construction debt for AVE Station House, a 13-story, 301-unit luxury multifamily…
Starwood Property Trust’s stock tanked hours after the firm reported its second-quarter earnings, dropping 4 percent in one morning, as the firm reported major declines in net income. Starwood’s stock currently trades at $15.55 per share, down 6 percent from where it traded one month ago and down nearly 20 percent…
JLL Capital Markets arranges loan for value-add multifamily asset with direct Blue Line access & ocean views in Boston’s fastest-growing coastal submarket
Provident Bank provides loan for Shadowbrook Capital’s three-story self-storage project in Bergen County, New Jersey
S2 Capital’s Scott Everett already has $400 million in apartment foreclosures. Now, lenders are suing him for what they claim he owes. Capital One is seeking a $11.5 million judgment against Everett after he defaulted on an $85.2 million loan from the bank, according to an Aug. 4 filing in New York Supreme Court.…
Timberlane Partners has secured $52 million to refinance Sumner Mill Apartments, a 162-unit multifamily community outside of Seattle and Tacoma, Wash., Commercial Observer can first report. Mesa West provided the debt, structured as a short-term, first-mortgage loan, while BWE’s Jake Roberts arranged the…
Eldridge Capital Management announced a $278 million loan to refinance Ten Twenty Spring, an office building in Atlanta, owned by Portman and funds affiliated with Blackstone Real Estate. Eldridge has backed the property since construction. It was delivered in December, 2024. Across 25 stories, Ten Twenty Spring…
The United Group of Companies closed on a $52 million loan to refinance Alloro at University Groves, a 55+ apartment community at 3540 Broadway Ave, in Sarasota, Florida. A Walker & Dunlop Capital Markets Real Estate Finance team led by Walker Layne, Matthew Wallach, Stephen West, Austin Sneed, and Tyler Evenson…
NEW YORK CITY — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged $131.5 million in construction financing for a student housing development in the Washington Heights neighborhood of Upper Manhattan. The 28-story building at 465 W. 165th St. will offer 276 fully furnished units…
KANSAS CITY, MO. — Gantry has secured a $30.5 million permanent loan to refinance maturing debt for a 603,000-square-foot warehouse located in the Skyport Industrial Center in Kansas City’s Northland submarket. The multi-tenant facility underwent a full renovation in 2023 and is now fully leased. The building…
Pensioenuitvoeringsorganisatie PGGM krijgt via een overeenkomst met mBank blootstelling aan een portefeuille van 1,1 miljard euro aan leningen voor commercieel vastgoed in Polen. De pensioenuitvoerder investeert namens pensioenfonds PFZW in 80 procent van de uitstaande risicopositie.
NEW YORK CITY — Walker & Dunlop has arranged a $137.5 million refinancing loan for 12 Halsey, a 240-unit mixed-income development in the Bedford-Stuyvesant neighborhood of Brooklyn. EJS Group and… The post EJS, Hope Street Secure $137.5M ReFi for Brooklyn Development appeared first on Multifamily & Affordable…
Merger Would Consolidate Two Transitional CRE Lenders Focused on the Southern U.S. Into a Single Public Company
CIC has rehabbed nearly 70,000 units through roughly 2,800 loans totaling $1.8B since 1984.
Clara Homes landed a $101.5 million refinancing for the first two phases of a luxury multifamily development in Bay Harbour Islands. Hudson Bay Capital provided the loan for the project at 10281 West Bay Harbor Drive and 1147-1155 100th Street, which is a part of the three-phase Clara Bay Harbour apartment…
Lightstone Capital, Lightstone’s real estate debt platform, recently closed three originations totaling $70 million across California and Texas. The financings include two multifamily communities in the San Diego region and an industrial property in the greater Houston logistics corridor. In California, Lightstone…
Zenith Industrial Outdoor Storage, a vertically integrated industrial outdoor storage investment platform, in partnership with institutional investors advised by J.P. Morgan Asset Management, has closed on a $215-million senior secured credit facility with an accordion feature allowing for total commitments up to…
Krea USA nabbed a $61.8 million construction loan for a multifamily development in Lauderhill, Fla., property records show. The financing from Abanca Bank covers the 385-unit Le Parc at Lauderhill development, at 3831 Northwest 13th Street, just east of the Lauderhill Mall and North State Road 7. The 10-acre…
JLL facilitates loan for mixed-use development featuring Sprouts Farmers Market and age-restricted luxury rental units