Home » Archive

Articles in the Finance & Accounting Category

Finance & Accounting »

[22 Oct 2014 | No Comment | ]

NorthMarq Capital has arranged nearly $43 million financing for two separate suburban deals.
Keith Braddish, managing director of NorthMarq’s New York metro office, arranged a $24 million refinance of Newington Commons Shopping Center, a 189,864 s/f grocery-anchored shopping center at 196 Kitts Lane in Newington.
The transaction was structured with a 10-year term along with two years of interest only followed by a 30-year amortization schedule.
NorthMarq arranged the financing for the borrower through a relationship with a CMBS lender.
Stop N’ Shop is the anchor tenant, other tenants include: Bob’s Stores, Party City, …

Finance & Accounting »

[22 Oct 2014 | No Comment | ]

Principal Real Estate Investors, the real estate group of Principal Global Investors, and Macquarie Group, are creating Principal Commercial Capital, a lending platform focused on originating and securitizing commercial mortgages in the commercial mortgage-backed securities (CMBS) market.
The partners will jointly manage the nationwide lending platform. Principal will source, underwrite, close and service loans. Macquarie will provide funding and capital markets expertise.
“We are very excited to launch this platform and expand our presence once again in the CMBS market,” said Margie Custis, managing director for Principal Real Estate Investors.
“This venture will …

Finance & Accounting »

[22 Oct 2014 | No Comment | ]

Eastern Union Funding, one of the largest commercial real estate mortgage brokerages in the United States, has opened a new office in Jerusalem, Israel.
The office will be led by Tom Eisenman, managing director and an Israeli Defense Force veteran.
Eastern Union Funding spent a year assembling its team in Israel, a country whose population is buying American real estate at a pace rivaling China and other overseas-investing heavy-weights.
“Before this stampede of Israeli real estate players picked up, it didn’t make a difference whether our office was one mile away or 6,000 …

Featured, Finance & Accounting »

[22 Oct 2014 | No Comment | ]
Stuy Town value on the up

The value of Stuyvesant Town and Peter Cooper Village, the 11,000-unit East Side housing development, has gone up.

Appraisers said the complex which sold for $5.4 billion at the height of the boom in 2007, is now worth $3.5 billion.

While its $2 billion short of its last sale price, the appraisal is good news for lenders still owed from the bubble-bursting buy made by Tishman Speyer and a group of partners led by BlackRock Inc.

Brokers Weekly, Deals & Dealmakers, Finance & Accounting »

[21 Oct 2014 | No Comment | ]

Boston National Title, established in 2006 and headquartered in Charlotte, NC, has acquired a stake in New York-based Insignia Title Agency.
The acquisition gives Boston National an instant entrée into New York’s high-powered real estate deal flow.
Large financial institutions and brokers that already rely on Boston National to perform title work and issue insurance on commercial and private wealth transactions outside of New York, can now take advantage of the Insignia BNT team on their New York transactions, according to Boston National CEO and managing partner John Keratsis.
“What you’re seeing is …

Brokers Weekly, Featured, Finance & Accounting »

[20 Oct 2014 | No Comment | ]
Suzuki secures construction loan for Gramercy condo

Developer Sam Suzuki has secured an $18 million loan to convert a former Gramercy police precinct into luxury condos.

Mortgage Equicap LLC announced this morning (Monday) that it arranged the non-recourse construction loan for a 12-unit condominium conversion near Gramercy Park.

Finance & Accounting »

[15 Oct 2014 | No Comment | ]

Walker & Dunlop, Inc. has agreed to acquire Johnson Capital’s loan origination and servicing platform.
Johnson Capital is a national commercial real estate mortgage company that works with life insurance companies, banks and CMBS conduits.  It is an approved HUD MAP lender nationally and Ginnie Mae issuer.
As part of the transaction, approximately $590 million in HUD servicing will be added to Walker & Dunlop’s $40 billion servicing portfolio.
Johnson Capital also has sourced billions of dollars of Fannie Mae DUS loans as a correspondent to Walker & Dunlop over the past 20 …

Finance & Accounting, Retail »

[15 Oct 2014 | No Comment | ]

Massey Knakal Capital Services closed a $4 million unsecured line-of-credit to finance construction of Le District French eatery at Brookfield Place.
Garrett Thelander and Bruce Whipple arranged the loan on behalf of HPH to construct the 30,000 s/f boutique food market that will serve as the anchor food venue a at Brookfield Place.
The all-in rate for the financing was below three percent for an initial term of three years and provided by a private wealth lending institution.
HPH operates 28 other food and beverage ventures that include Harry’s Café and Steak.

Finance & Accounting »

[15 Oct 2014 | No Comment | ]

Real estate finance brokerage Eastern Union Funding has executed a four-set of deals which reflect a flourishing real estate climate in the outer boroughs.
Managing director Jonathan Singer represented Delaware-based BPS 5 LLC’s debt assumption for a $24 million purchase of a five contiguous building portfolio in the Bronx, consisting of 206 total units. The buildings are located at 922-926, 932-934, 938-940, 944 Bronx Park South, and 2137 Vyse Avenue.
Singer negotiated an exact amount of $15,160,768 for the buyer, who essentially stepped into the seller’s shoes by assuming a 2007 loan …

Deals & Dealmakers, Finance & Accounting »

[15 Oct 2014 | No Comment | ]

New York attracted the most commercial real estate investment during the last year as the global real estate investment market saw volumes increase by 17.2 percent to $788 billion, according to Cushman & Wakefield’s annual ‘Winning in Growth Cities’ report launched in Munich, Germany, last week.
While a number of cities still dominate, activity is spreading to an increased number of global markets as investors relax their risk tolerance.
New York saw $55.4 billion invested in the year to Q2 2014 — this equates to seven percent of global market share.
London, which …

Related Posts Plugin for WordPress, Blogger...