Shorenstein has been unable to strike a deal to modify terms of the $222.9 million mortgage against the 999,828-square-foot office building at 1818 Market St. in downtown, or Center City, Philadelphia. The loan's special servicer will now seek to get [...]
Barings has provided $70.2 million of financing against the 606,343-square-foot Tracy 205 Logistics Center in the Northern California city of Tracy. The five-year loan was arranged by CBRE. The cross-dock facility, on a 29-acre parcel at 1269 East Grant Line [...]
Commercial Real Estate Direct Staff Report The 821-room Hilton Minneapolis hotel, which in 2023 was taken through foreclosure by the CMBS trust that had held a $180 million loan against it, has continued to underperform expectations. That’s prompted Moody’s Ratings [...]
Blackstone Mortgage Trust has provided $278.87 million of mortgage financing against the 788,927 square feet of office space at the Woolworth Building in lower Manhattan. The financing, comprised of a $243.09 million senior note and $35.78 million of junior notes, [...]
BisNow Grant Street Funding has provided $34.3 million of mortgage financing against the 80,780-square-foot office property at 60-66 Long Wharf Drive in Boston. The two-building complex is owned by Capital Properties of Boston, which had purchased it in 2015 for [...]
REBusiness Online Phoenix Development Co. has lined up $27.8 million of financing against Pullman Modern Urban Apartments, a 114-unit property in Santa Rosa, Calif. The local company recently completed the apartments at 725 and 755 Wilson St. and 85 8th [...]
Commercial Real Estate Direct Staff Report Deutsche Bank has provided $145 million of mortgage financing against the 410,561-square-foot Las Olas City Centre office property in downtown Fort Lauderdale, Fla. The loan helped facilitate the 23-story building’s purchase for $221 million, [...]
Class Amt $mln Sub Level % Avg Life (yrs) Rating Moody’s Rating Fitch Rating Kroll Price % Yield % Final Pricing (bp) Bnch mrk A-1 2.02 30.00 2.49 Aaa AAA AAA J-spread A-2 18.50 30.00 2.75 Aaa AAA AAA [...]
Thor Equities, which five years ago had paid $27.1 million for the life-sciences building at 7 Powder Horn Drive in the northern New Jersey township of Warren, has put the 181,210-square-foot property up for sale. The post Thor Equities Puts [...]
Commercial Real Estate Direct Staff Report The volume of commercial mortgages outstanding increased by $172.29 billion, or 3.7%, last year to $4.79 trillion, according to the Mortgage Bankers Association. When compared with the third quarter, the universe increased by 1.1%. [...]
