Finance & Investment
Berkeley Point Executes $325M in Refinancing for The Gateway in San Francisco
Berkeley Point Capital, along with Freddie Mac, recently closed on the largest single-asset loan in its company history. The 10-year, $325 million refinance loan for The Gateway, a 7.74 acre San Francisco property, was locked-in at a fixed rate of 3.38 percent and is a full-term, interest-only loan.
TODAY’S DEALS: HFF Arranges $22.5M Permanent Loan from Life Insurance Company
HFF arranges $22.5 million in financing from a life insurance company; Parse Capital closes a $8.9 million mezzanine loan for a Los Angeles development; and Berzack Investment Property Advisors brokers a 40-unit sale in Santa Clarita, Calif.
MHN Interview: Freddie Mac Multifamily’s Plan to Increase Affordable Preservation
Shaun Smith was recently hired as the senior director for the Targeted Affordable Housing Retail Production division for Freddie Mac Multifamily. MHN talks to Smith about her plans to increase the focus on affordable preservation and why preservation transactions have been so successful.
Economy Watch: Serious Mortgage Delinquencies Continue to Drop
Fannie Mae reported that the single-family serious delinquency rate for mortgages and it owns or insures declined in July to 2.7 percent from 2.77 percent in June.
TODAY’S DEALS: Inland Acquires 146 Units in Florida
Inland Real Estate Acquistions buys a townhome development; and Greystone originates $6.7 million for a Florida acquisition.
Economy Watch: Mortgage Rates Hit New Highs
Mortgage rates are continuing their upward creep, but the housing market still seems to soldier on in its recovery.
TODAY’S DEALS: HFF Priovides JV with $40.5M for Colorado Apartment Development
The Greystone Group and The Sevinson land financing for a Colorado project; NorthMarq Capital arranges first mortgage financing for a Illinois asset; and Arbor Commercial Funding provides a $8.5 million Fannie Mae refinance loan.
TODAY’S DEALS: NorthMarq Arranges $23.25M Life Insurance Company Loan with Advance Rate Lock
NorthMarq Capital brokers first mortgage refinancing of $23.25 million for Woodlake Apartments in Gurnee, Ill.; and Los Angeles County apartment complex changes hands at $9.9 million.
TODAY’S DEALS: HFF Arranges $33.05M Sale on Behalf of Prime Residential
HFF announced that it has brokered the sale of The Artisan, a 434-unit, garden-style community in Denver; and Alliant Capital closes on a $1.2 million refinance.
TODAY’S DEALS: Large Texas Apartment Community Trade Hands
Marcus & Millichap completes a 720-unit sale; Centerline provides a $1.1 million refinance for an affordable asset in Mississippi; and Berkeley Point Capital facilitates $12.5 million for an acquisition.