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Silver Star Real Estate Pays 49.7 Mil for 147-Unit San Gabriel Valley Res Property 7/28/20 Silver Star Real Estate acquired Amber Ridge Apartments, a 147-unit, garden-style multifamily community in La Verne, for $49.7 mil ($338k/unit). The purchase was financed with a $30.58 mil acquisition loan.
Located at 2421 F...
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Greystone Affordable Development Partners with Hamilton Valley Management to Redevelop Affordable Rental Housing in Texas 7/22/20 Greystone Affordable Development recently closed a $120.5 mil transaction – its first in the state of Texas – in collaboration with Burnet, TX-based Hamilton Valley Management Inc, an owner and manager of affordable multi-fam...
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BH Properties Launches Program to Finance and Acquire Troubled Properties 7/21/20 BH Properties has launched a debtor-in-possession (“DIP”) initiative and has set aside $200 million in initial funding to finance and acquire troubled middle market real estate assets in receivership or facing bankruptcy. BH ...
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Kennedy Wilson and Fairfax Financial Holdings Acquire $63 Mil Loan on CO Res Community 7/13/20 Per a press release put out by Kennedy Wilson, the firm, along with Fairfax Financial Holdings Limited, has acquired a $63 mil loan for a newly constructed multifamily community in the Boulder, CO region. The senior bridge lo...
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30-Year Fixed-Rate Mortgage Drops to 3.03% 7/12/20 According to Freddie Mac’s just-released results from its Primary Mortgage Market Survey® (PMMS®), the 30-year fixed-rate mortgage (FRM) averaged 3.03 percent, the lowest rate in the survey’s history dating back to 1971.
“Th...
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Local NYC Investor Pays $22.5 Mil for Adjacent Mixed-Use Properties in Greenwich Village 7/10/20 In a recent financing brief out of New York City, a local real estate investment firm purchased two contiguous, mixed-use buildings in NYC’s Greenwich Village area in a $22.5 mil transaction. The deal was financed with a $16....
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Brasa Capital Management Closes First Credit Vehicle 7/08/20 Brasa Capital Management has closed its first credit vehicle, Brasa Credit I LP. Brasa Credit will now allow Brasa to provide both debt and equity on commercial real estate transactions up to $100 mil on behalf of its pension...
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Trio of SoCal Retail Acquisitions Financed with $19.9 Mil in Loans 7/07/20 Three SoCal retail assets totaling roughly 76k sf in size were acquired by an L.A.-based investment entity. Although we don’t have the purchase price, we can tell you that the transaction was financed with three individual pr...
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Two CA Multifamily Assets Land Freddie Mac Refi Loans Totaling $208 Mil 7/02/20 In recent residential refi transactions of note, we’ve got the scoop on two CA Freddie Ma property loans totaling about $208 mil. The deals, both arranged by NKF’s Multifamily Capital Markets team, were for assets at both end...
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BioMed Realty Lands $165 Mil in Financing on Emeryville Life Science Building 7/01/20 BioMed Realty has obtained $165 mil in financing for 5300 Chiron Way, a 303.5k sf, Class A life science building in Emeryville. The building is located within BioMed Realty’s campus, known as the Emeryville Center of Innovati...
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Multi-Tenant Retail Center with Cannabis User Financed with Loan for $13.5 Mil 6/22/20 George Smith Partners (GSP) has arranged $13.5 mil in quick-close, cash out, bridge-to-bridge financing for a multi-tenant retail center in L.A;’s Echo Park area.
The borrower wanted to take out their existing lender due to...
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Douglas Allred Company Secures $73 Mil to Start Work on Spec AZ Office Project 6/17/20 Douglas Allred Company has obtained $73.5 mil in financing for development of a 300k sf, Class A spec office project in Chandler, AZ. The funding consists of a $46 mil construction loan from Bank OZK and $27.5 mil in mezzanin...
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Hines-Led Venture Secures $182 Mil on OC Office Campus 6/17/20 Intersect, a four-building, 452k sf office campus in Irvine, has been refinanced with a new $182 mil loan. The mid-rise, Class A property is owned by a joint venture between Hines and a leading global investment management fi...
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Dewey Land Company and DivcoWest’s Spec Office Project in the Bay Area Lands $33.8 Mil in Financing 6/12/20 Dewey Land Company and DivcoWest are closer to starting work on 250 California, a spec, 44.6k sf office project in Burlingame, thanks to having just secured $33.8 mil in construction financing. The joint venture equity partn...
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Bay Area Multifamily Property Refinanced with $33 Mil in Fannie Mae Money 6/11/20 Sausalito Investments has obtained a $33 mil refi loan on Sausalito Towers, a 90-unit multifamily property it owns in the northern Bay Area city of Sausalito. The Fannie Mae Delegated Underwriting and Servicing (DUS®) loan w...
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Greenlight Communities Secures $23 Mil in Financing for Phoenix Res Development 6/11/20 Greenlight Communities has obtained $22.9 mil in financing for the development of Cabana on 99th, a 286-unit, garden-style multi-housing project in Phoenix’s Glendale submarket. The financing, arranged by Bryan Clark, Brad Mi...
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Legacy Homes Lands $86 Mil Refi on NoCal Res Community 5/29/20 Legacy Homes has obtained an $86.2 mil Freddie Mac refi loan on Aspire Apartments, a 348-unit apartment community in Tracy, a NoCal city roughly 20 miles southwest of Stockton. Aspire Apartments is located at 2725 Pavilion Pk...
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DivcoWest Refis San Francisco Office Building with $36 Mil Loan 5/20/20 DivcoWest has obtained a $36 mil refi loan on 180 Townsend, a four-story, 40.9k sf office building in San Francisco. The asset is currently undergoing renovations to accentuate existing features such as the brick facades, win...
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Greystone Provides $116 Mil in Freddie Mac Loans on Three L.A. Res Portfolios 5/19/20 Here’s a quick Freddie Mac multifamily financing update, as Greystone has provided $116.4 mil in Freddie Mac loans to refinance three separate portfolios. The portfolios contained a total of 34 workforce housing properties, a...
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Kennedy Wilson and Fairfax Financial Holdings Limited Team Up in Venture to Acquire First Mortgage Loans 5/15/20 Kennedy Wilson has formed a $2 bil platform with Fairfax Financial Holdings Limited that will pursue first mortgage loans secured by high-quality real estate in the Western U.S., Ireland and the U.K. In its role as asset mana...
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