MHN TV: Sources of Capital: Life Companies, Conduits, Banks
Denny St. Romain, managing director of Real Estate Investment Banking at Jones Lang LaSalle, discusses three sources of commercial real estate financing today: life companies, conduits and banks.
Conduits Competing Directly with Fannie Mae, Freddie Mac
Vic Clark, managing director of Centerline Capital Group, explains the increasing competitiveness of CMBS financing in the commercial real estate world.
TODAY’S DEALS: Development Site Near Hudson Yards Sells For $21.25M
A development site positioned in New York City’s Hudson Yards Special District at 511-515 West 36th Street has traded for $21.25 million; and Alliant Capital completes $24.71 million in acquisition loans.
TODAY’s DEALS: Cassidy Turley Brokers $73.6M Construction Loan for D.C. Mixed-Use Community
Cassidy Turley announced that it secured a $73.6 million construction loan for Fort Totten Square; and Marcus & Millichap arranged the sale of an Austin, Texas, property.
TODAY’S DEALS: Ridge Capital Joint Venture Acquires Napa Portfolio for $39.5M
Ridge Capital Investors LLC and Redwood Real Estate Partners acquire two properties south of downtown Napa, Calif.; and Greystone originates $28 million in bridge loans for two seniors communities.
TODAY’S DEALS: HFF Arranges $6.1M in JV Equity, $17.8M Mortgage for Colorado Apartments
HFF arranges joint venture equity and Freddie Mac mortgage financing for a suburban property in Colorado; and NorthMarq Capital closes on a $12.56 million Freddie Mac mortgage.
TODAY’S DEALS: IPA Brokers $19M California Property Sale at $204 Per Square Foot
IPA arranged the sale of Il Pompeii Apartments, a 111-unit luxury apartment community; and Jason Cohen Pittsburgh sells a property at a 350 percent premium.
MHN PROFILE: Opportunities Still Exist in Chicago for Acquisition of Lender-Owned Assets, Says Kiser
If you are interested in acquiring small-scale distressed properties, Lee Kiser, principal of Kiser Group, has this to say: “Welcome to the club.”
TODAY’S DEALS: Seattle Apartment Property Sells at Record $518 Per Square Foot
The $14.65 million sales price of Elliott Bayview equates to $357,317 per unit; and a top FHA lender Greystone originates four HUD loans for more than $43 million.