Deutsche Bank Lends $120M on Coney Island Affordable Housing Buy
A joint venture partnership between Tredway, Gilbane Development Company and ELH Management has secured $120 million of acquisition financing to buy a three-building affordable housing development in...
View ArticleDeutsche Bank, Naftali Credit Partners Lend $84M on Greenwich Village Condo...
A joint venture between Argo Real Estate and India developer B Safal has nabbed $84 million of construction financing to build a condominium property in Greenwich Village, Commercial Observer has...
View ArticlePark Hotels & Resorts Halts Debt Payments on 2 San Francisco Hotels
Park Hotels & Resorts has terminated payments this month owed on a $725 million nonrecourse commercial mortgage-backed securities loan backing two San Francisco hotels as part of a plan to reduce...
View ArticleSan Francisco Leans Into AI and Conversions to Aid a Painful Recovery
San Francisco’s commercial real estate distress reached earthquake levels in June, and the aftershocks may be felt well into the future. Still, the roiled market there might find some calm in one...
View ArticleShvo Scores $190M Loan for Historic Miami Beach Redevelopment
Michael Shvo, in partnership with Deutsche Finance America and a group of German institutional pension funds, landed $190 million to redevelop the historic Raleigh property in Miami Beach. The loan...
View ArticleValue of Kushner’s 229 West 43rd Drops 82 Percent Since Acquisition: CRED iQ
Valuation woes are being felt from coast to coast, with Kushner Companies’ retail condominium property in Times Square topping one data provider’s list. The 238,557 square-foot building at 229 West...
View ArticleMiami Design District Lands $250M Refi for Paradise Plaza
The owners of the Miami Design District scored $250 million to refinance parts of the 18-block outdoor mall. The loan from Deutsche Bank will cover a collection of storefronts known as Paradise Plaza,...
View ArticleNon-Office CRE Assets Could Bolster Debt Markets in 2024: NYU Schack Panelists
The commercial real estate debt markets are poised for a more active 2024, driven — perhaps unsurprisingly — by non-office transactions, according to leading lenders at the 56th annual New York...
View ArticleMall Giant Macerich Closes $710M Refi for Tysons Corner Center in NoVA
Macerich has secured a massive refinancing deal for its joint venture that owns Tysons Corner Center shopping mall in Tysons, Va. The $710 million commercial mortgage-backed securities (CMBS) loan,...
View ArticleThor Equities Secures $36M to Refinance Fort Lauderdale’s Beach Place Retail
Deutsche Bank provided $36 million to refinance Beach Place, a beachfront retail property in Fort Lauderdale, Fla. Thor Equities owns the 96,000-square-foot asset, which was 98 percent leased when the...
View ArticleDeutsche Bank Refis South Florida Mixed-Use Asset With $133M Loan
EB-5 investment firm Gold Coast Florida Regional Center has landed a $133.4 million loan to refinance a mixed-use asset in Hollywood, Fla., Commercial Observer has learned. Deutsche Bank provided the...
View ArticleCMBS Loan on 280 Park Avenue Hits Special Servicing, Modification in the Works
The $1.1 billion commercial mortgage-backed securities (CMBS) loan backed by SL Green Realty and Vornado Realty Trust’s 43-story office building at 280 Park Avenue has transferred to special servicing,...
View ArticleGerman Capital Flow Into U.S. Commercial Real Estate Drops Sharply
After emerging as one of the biggest global buyers of core U.S. commercial real estate assets following the Global Financial Crisis, German institutional investors have drastically adjusted their focus...
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How James Millon, Tom Traynor and Tom Rugg Turned CBRE Into a Large Loan...
Opportunity, as personified in Greek mythology by the youthful god Caerus, has always been viewed as fleeting. But for CBRE’s nine-person Global Institutional Debt Advisory Group — which has closed...
View ArticleMCR Hotels Refinances Hotel Portfolio With $333M CMBS Loan
MCR Hotels — the nation’s third-largest hospitality owner and operator — has secured $333 million to refinance a 16-hotel portfolio of Hilton and Marriott properties that encompasses 2,274 rooms...
View ArticleLaw Firm Gunster Renews 22K-SF Office in Downtown Fort Lauderdale
Law firm Gunster inked a 22,000-square-foot renewal for its office at Las Olas Centre in Downtown Fort Lauderdale, the tenant’s broker announced. The law firm moved into the nine-story building nearly...
View ArticleDeutsche Bank Refis Charlotte Mixed-Use Tower With $72M Loan
Panorama Holdings has nabbed a $71.5 million loan to refinance a mixed-use property in Charlotte, N.C., Commercial Observer can first report. Deutsche Bank supplied the loan on the sponsorship’s...
View ArticleDeutsche Bank Refis Vegas Hilton-Branded Hotels With $46M Loan
DG Development has nabbed a $46 million loan to refinance a dual-branded Hilton hotel development adjacent to the Las Vegas Convention Center, Commercial Observer can first report. Deutsche Bank...
View ArticleLincoln Property Company Lands $65M Refi for L.A. Office Complex
The owner of Wateridge, a six-building office and retail campus with 583,580 square feet on Los Angeles’ Westside, has secured refinancing, JLL announced Tuesday. An affiliate of Lincoln Property...
View ArticleSL Green, Vornado Extend $1B Senior Loan at 280 Park, Buy Back Mezz at Discount
SL Green and Vornado Realty Trust, Manhattan’s two largest office landlords, announced Wednesday that they have modified and extended a $1.075 billion mortgage secured by 280 Park Avenue, 60-year old,...
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