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Commercial Lending (318)

MBA: Multifamily Up 6% in 2017, Attained Record Level

Tuesday, 30 October 2018

Commercial Lending

Written by matt

Strong market conditions helped fuel a 6 percent increase in multifamily lending in 2017, as lenders provided a record high $285 billion in new mortgages for apartment buildings with five or more units, according to the Mortgage Bankers Association's annual report on the multifamily lending market. "The multifamily lending market in 2017 benefited from improving… Read more...

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lending

Wells Fargo Closes $700M Loan

Monday, 29 October 2018

Commercial Lending

Written by matt

Wells Fargo and Co. has closed a $700 million syndicated loan facility to The Howard Hughes Corporation a real estate developer of residential and commercial properties. “This new facility achieves our stated financial goals of both increasing our financial flexibility as well as reducing our weighted average cost of capital. By reducing our cost of… Read more...

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originating

Greystone Bel Completes Sale of Detroit Apartment Building

Friday, 26 October 2018

Commercial Lending

Written by matt

Greystone Bel has closed the sale, with acquisition financing provided by Greystone, of Carlton Apartments, a 144-unit garden-style multifamily property in the Lafayette Park area of Detroit. The Greystone Bel Investment Sales team, led by Cary Belovicz, represented the seller in the sale of the asset to Florida-based Andover Real Estate Partners and Michigan-based The… Read more...

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lending

Arbor Realty-Freddie Close Single Family Deal

Thursday, 25 October 2018

Commercial Lending

Written by matt

Arbor Realty Trust Inc. has closed on three single-family rental portfolio deals totaling $66.4M, spanning nine states under the Freddie Mac Single-Family Rental pilot. "Arbor is firmly committed to the single-family rental market as it provides much-needed affordable housing to our nation's workforce," said Ivan Kaufman, chairman, president and CEO of Arbor Realty Trust. "With… Read more...

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lending

Multifamily Owners Can Now Offer Fraud, Credit Services

Wednesday, 24 October 2018

Commercial Lending

Written by matt

Yardi multifamily clients are now able to offer fraud protection and credit reporting services to the people that rent residences from them. These consumer protection amenities are provided by Resident-Link and included in RentCafe, Yardi's property marketing, leasing and resident services platform. Yardi develops and supports industry-leading investment and property management software for real estate… Read more...

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lending

CIT Was Lead Underwriter for $24M Multi-Family Loan

Tuesday, 23 October 2018

Commercial Lending

Written by matt

The CIT Group Inc.’s real estate division was the lead arranger of a $24 million senior secured loan for the acquisition of a multi-family property in San Pedro, Calif., by MWest Holdings, a private real estate investment and management firm. MWest Holdings acquired the San Pedro Bank Lofts, an 89-unit loft-style multi-family property located in… Read more...

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press releases

New York-Based Firm Makes $39M Fannie Loan

Monday, 22 October 2018

Commercial Lending

Written by matt

Hunt Real Estate Capital has provided a Fannie Mae conventional multifamily loan in the amount of $39 million to refinance a manufactured housing community located in Boulder, Colo. Boulder Meadows is a 638-unit, 4-Star multifamily/mobile-home park community. Included in the 638 units are 97 community-owned homes, of which three are used as residences for the… Read more...

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press releases

Greystone Brown Closes $51.7 Million Sale of Multifamily Property

Friday, 12 October 2018

Commercial Lending

Written by matt

Greystone Brown Real Estate has closed $52 million sale of Avocet Apartments, a 336-unit multifamily property in San Antonio. Greystone Brown acted for both parties in the transaction, advising the seller, Stone River, as well as the buyer, Benimax. The transaction, which closed on Sept. 5, 2018, was handled by Taylor Brown, Steve Mack, and… Read more...

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press releases

Hunt Makes Two Freddie Mac Small Balance Loans

Thursday, 11 October 2018

Commercial Lending

Written by matt

Hunt Real Estate Capital has provided two Freddie Mac Small Balance Loans totaling $7.42 million to finance the acquisition of two multifamily portfolios located in the Bronzeville neighborhood of Chicago. The hybrid loans are structured as 20-year fixed-to-floating rate loans with three-years interest only, followed by a 30-year amortization schedule. Both proposed transactions will have… Read more...

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lending

Greystone Closes Industry’s First CLO Comprised Solely of Healthcare Assets

Wednesday, 10 October 2018

Commercial Lending

Written by matt

Greystone has closed the industry’s first collateralized loan obligation that consists of only healthcare assets, particularly skilled nursing, assisted-living and independent-living facilities. The Greystone Commercial Real Estate Notes is a $300 million collateralized loan obligation backed exclusively by bridge loans on healthcare-related properties. The company is a real estate lending, investment and advisory company in… Read more...

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originating

Hunt Capital Makes $18.3 Million Commercial Loan in Charlotte, N.C.

Tuesday, 09 October 2018

Commercial Lending

Written by matt

Hunt Real Estate Capital made an $18.3 million loan to finance the acquisition of a multifamily property located in Charlotte, N.C. Fields at Archdale is a 243-unit, garden-style apartment complex that is comprised of 26, three-story apartment buildings. Built from 1968-1975, the property is situated on 14.59 acres of land and offers 489 parking spaces.… Read more...

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press releases

REIS: Apartment Vacancy Rate Hits 4.8% in Q3

Monday, 08 October 2018

Commercial Lending

Written by matt

The apartment vacancy rate increased in the third quarter to 4.8%, from 4.7% last quarter, and 4.4% in the third quarter of 2017. The vacancy rate has now increased 70 basis points, from a low of 4.1% in Q3 2016, according to a survey from Reis. The national average asking rent increased 1.2% in the… Read more...

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