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• Black Swan Reset and the Fate of Commercial Real Estate
4/30/20
By Elliot M. Shirwo, Founder and Principal
BridgeCore Capital Inc
We are in the grips of a global black swan event.
The COVID-19 pandemic is having a near-catastrophic impact on most sectors of the world economy. For comm...
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• Universe Holdings Obtains $19.7 Mil Cash-Out Money on Seven Res Properties in Inglewood
4/24/20
Universe Holdings has received $19.71 mil in cash-out financing secured by seven of its multifamily communities in Inglewood. Two separate loans allowed Universe to pay off the existing mortgages on the value-add properties a...
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• The Latigo Group Obtains $59 Mil in Construction Money for 142-Unit Res Development in Thousand Oaks
4/23/20
The Latigo Group has secured $59 mil in construction financing for the development of a 142-unit, Class A residential project in Thousand Oaks, in what we’re told is the first significant multifamily project to be developed i...
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• Oakland Multifamily Portfolio Financed with $58 Mil Loan
4/17/20
Mosser Capital has obtained $58.5 mil in financing to fund the recapitalization of a nine-property multi-housing portfolio located in Oakland. Mosser owns the assets in a venture with a new foreign investment partner. Mosser ...
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• Portland Radisson RED Hotel Lands $40 Mil in Bridge Financing
4/07/20
George Smith Partners (GSP) arranged $40 mil in non-recourse, cash-out bridge financing for a 180-key Radisson RED hotel in Portland, OR. The bridge facility allowed the borrower to pay off its construction loan, return capit...
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• Cortland Closes $1.2 Bil Buy of 22-Property Res Portfolio
4/06/20
Cortland recently acquired PURE Multi-Family REIT, comprising 22 properties with a combined 7,085 res units, in a $1.2 bil transaction. The deal was made with $340.1 mil in acquisition financing structured by Walker & Dunlop ...
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• San Diego Res Portfolio Refinanced with $58.5 Mil Loan
4/03/20
Real Asymmetry has landed $58.5 mil in refi money on a recently renovated, five-property multi-housing portfolio totaling 328 workforce-oriented housing units in San Diego.
The properties in the portfolio are located in and ...
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• RENTV and CA CRE Pros Reeling From the Passing of Jim Wiegandt at Banc of California
3/24/20
By Steve Bloom
While dealing with the complete upheaval in the world, many in the California commercial real estate community were dealt another severe blow last week with the loss of Jim Wiegandt, EVP and Head of Real Estat...
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• CalSTRS Portfolio Lands $992 Mil in Financing
3/24/20
JLL Capital Markets has arranged $991.77 mil in financing for a geographically diverse, 17-property portfolio totaling more than 7 msf across major U.S. markets. JLL worked on behalf of CalSTRS and their advisor, PCCP, to arr...
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• Sares Regis Group Buys The Preston in L.A.'s Miracle Mile Neighborhood
3/23/20
Sares Regis Group purchased The Preston, a 169-unit multifamily community in Los Angeles’ Mid-Wilshire neighborhood. The acquisition was financed with $65 mil in first mortgage debt provided by Mesa West Capital.
The Preston...
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• San Fernando Valley Hotel Refinanced with $20 Mil Loan
3/20/20
Sonnenblick-Eichner Company arranged $20.5 mil in first mortgage debt for the Carriage Inn, a 178-room hotel at the very northwest corner of Sherman Oaks, a community in Los Angeles’ San Fernando Valley. The borrower was a pa...
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• CGI Strategies Secures $47.8 Mil in Construction for Res Project in L.A.’s Koreatown
3/20/20
Los Angeles-based CGI Strategies has obtained $47.8 mil in construction money for the development of a 200-unit multifamily community in Los Angeles’ Koreatown neighborhood. The non-recourse loan was arranged by Dekel Capital...
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• Rialto Capital Management LLC Buys Two-Building Office Property in Portland’s Pearl District
3/19/20
A Rialto Capital Management LLC-managed fund purchased Fremont Place I and II, two- and three-story office buildings totaling 123.6k sf of space in the Pearl District of Northwest Portland. The buy was funded with $37.3 mil i...
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• The Vanbarton Group Lands $115 Mil in Financing on Seattle Multifamily Property
3/17/20
An affiliate of the Vanbarton Group has obtained $115.5 mil in financing for The Danforth, a 16-story, 265-unit apartment property in Seattle. Vanbarton purchased the property in December 2019 from the project developer, Colu...
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• Santa Barbara Student Housing Portfolio Lands $18.5 Mil in Financing
3/13/20
Los Angeles-based M&A Real Estate Partners has obtained an $18.5 mil loan for The Hive Isla Vista, a five-property student housing portfolio near the campus of University of California, Santa Barbara. CBRE’s Brad Wilmot arran...
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• The Coronavirus—the Prognosis for U.S. Real Estate and Real Estate Finance Given Current Market Conditions
3/10/20
While there is only speculation about the Coronavirus’ long-term impact on the U.S. real estate and the real estate capital markets, we can anticipate the short-term consequences, starting with construction projects, accordin...
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• $38 Mil Construction Loan Set for Houston Multifamily Development
2/20/20
Hunington Properties has obtained a $38 mil construction loan for the development of a 126.5k sf, mixed-use multifamily project. The six-story apartment building, located on 1.38 acres at 1107 Shepherd Dr in the Montrose/Rive...
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• Libertas Companies Buys 187k sf Harrison Square Office Property in Portland
2/17/20
Portland-based Libertas Companies closed on a local office buy, acquiring Harrison Square, a 187k sf office building in Portland’s South Central Business District. Although the purchase price was not immediately given out, we...
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• Kennedy Wilson’s $55 Mil WA Biz Park Buy Financed with $38.6 Mil Loan
2/11/20
Kennedy Wilson, through its Kennedy Wilson Fund VI, recently purchased Canyon Park East, a five-building, 269.4k sf business campus in Bothell, WA, for $55 mil, as reported on RENTV about a month ago. We’ve since learned that...
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• Investment Venture Buys 138k sf Retail Center in Los Angeles
2/07/20
Crenshaw Plaza, a 137.8k sf retail center located at the southeast corner of West Slauson Ave and Crenshaw Blvd, was acquired by a joint venture between two Los Angeles-based private commercial real estate investment firms. C...
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