Meridian Capital Group, LLC has closed on a $36 million Fannie Mae loan on the multifamily building Chelsea Court, at 250 West 19th Street, between Seventh and Eighth Avenues. Read More
Morgan Stanley has provided a $125 million mortgage on the retail portion of 15 Central Park West, the ultra luxurious condo where Lloyd Blankfein, CEO of Goldman Sachs, and many other influential bankers live, The Mortgage Observer has learned. Read More
Meridian Capital Group, LLC has closed on a permanent financing for $50 million for the recently constructed luxury multifamily building Harrison Station, at 300 Somerset Street in Harrison, N.J.
Beech Street Capital provided a 10-year Freddie Mac loan with a a rate of 3.69 percent to the developer Harrison Building 1 Urban Renewal LLC, a joint venture between Ironstate Holdings and The Pegasus Group, as GlobeSt.com first reported. Read More
ASB Real Estate has acquired for $139 million an office building at 400 Madison Avenue from Macklowe Properties and assumed a $55 million loan on the property, provided by MetLife. Read More
MetLife has refinanced a portion of the Shopping at Bay Plaza in the Bronx, where the largest retail complex in the city is located. Prestige Properties, the owner of the 1.3 million square feet of retail, residential and office spaces is currently in the process to expand the area up to about 2 million square feet by 2014. Read More
A subsidiary of Lord & Taylor has obtained a $250 million mortgage loan from CIBC and Natixis on its iconic flagship store at 424 Fifth Avenue, between West 38th and West 39th Streets, according to Hudson’s Bay Company, the owner of the department store chain. Read More
The Mortgage Observer has learned that the Related Companies has refinanced the loan on Manhattan Plaza, its 46-story, 1,689-unit affordable housing property at 400 West 43rd Street. Read More
Hudson Realty Capital has funded a $12.5 million bridge loan, which is secured by and industrial building in a suburb of Baltimore, M.D. Read More
The Naftali Group has obtained financing to develop a luxury rental building at 316 Bergen Street on Third Avenue in the Boerum Hill neighborhood of Brooklyn, the firm’s founder, Miki Naftali, confirmed to The Mortgage Observer. The developer signed for building and project loan mortgages for a total of $18 million on the three lots, according to public records. The lender is PNC Bank. The total cost of the projects, of about $30 million will be covered with the loan and with equities, Mr. Naftali said.
Last May, Naftali Group teamed up with investment management advisor AEW to buy the 90,000-square-foot development site for $6.72 million. The partners plan to build an 85-unit rental property with 45 residential parking spaces, an open space, a lounge e and a gym. ODA Architecture has designed the project. Read More
The private real estate firm Palatine Capital Partners Management, LLC, is using a $10.5 million Fannie Mae loan originated with Prudential Mortgage Capital Company for the purchase of an apartment community in Jacksonville, Fla.
The complex is The Villas at Dames Point Crossing, a 180-unit apartment community at 8291 Dames Point Crossing Boulevard in Jacksonville. According to Palatine, it has quick access to local beaches and airport, downtown Jacksonville, Mayport Naval Station and the Southside office market. Built as a condominium between 2006 and 2007, the complex was partially turned into rentals following the 2008 housing market crisis. Currently, The Villas is more than 90 percent occupied. Read More
Blackstone Group’s Brixmor, the second-largest owner of U.S. neighborhood shopping centers, has obtained a $90 million mortgage from Goldman Sachs Mortgage Company on three malls located in New Jersey, California and Illinois.
The 330,000-square-foot Shoppes at Cinnaminson, in Riverton, N.J., is 86 percent occupied with tenants such as Shoprite, Ross Dress for Less and Burlington. It was refinanced with a mortgage loan of $31.3 million. Read More
Greystone Servicing Corporation has provided a $45 million Fannie Mae MAH DUS loan for Capitol Apartments, an affordable housing complex located at 840 Eighth Avenue in Manhattan. Read More
The Homestead, a luxury resort nestled on 3,000 acres in western Virginia, is about up its luxury quotient thanks to a $30 million loan from a southern bank.
A team from Cushman & Wakefield arranged the financing for the KSL Capital Partners-owned resort via BB&T. KSL Capital Partners manages nine resorts through its KSL Resorts affiliate. Some of them, like the Homestead, are owned by funds that KSL Capital Partners manages. Read More
American Realty Capital New York Recovery REIT Inc., a non-traded real estate investment program and part of American Realty Capital, is expanding its presence in Brooklyn commercial and residential real estate. The company has announced the acquisition of 50 rental units and a 36-space parking facility at The 163 Washington Condominiums in Clinton Hill, not long after having closed the financing of three retail and office buildings in Sheepshead Bay.
The $31.5 million purchase of the condominium at 163 Washington Avenue increases the total size of the company’s portfolio to $213.1 million, comprised of 12 properties. Read More