General News
BH Properties Launches Program Targeting DIP Financing
Commercial Real Estate Direct Staff Report BH Properties, a 30-year-old opportunistic property investor, has launched a platform to provide debtor-in-possession financing for middle-market real estate companies or properties that are in receivership or have been thrown into bankruptcy. The Los...
Industrial Property Trust Sells Remaining Portfolio for $301Mln
Commercial Real Estate Direct Staff Report Industrial Property Trust has sold its remaining portfolio of properties and developments for $301 million. Black Creek Industrial REIT IV Inc. acquired the portfolio, which consists of minority interests in 64 buildings with about...
American Campus’ Pre-Leasing for Upcoming School Year Down from 2019-2020
Commercial Real Estate Direct Staff Report American Campus Communities had pre-leased 90.1 percent of its student-housing beds for the 2020-21 school year through July 17, down from the 93.5 percent of beds that had been pre-leased at the same time...
Jose Carrazana Named Director of Marcus & Millichap’s IPA Unit in L.A.
Jose Carrazana has joined the Institutional Property Advisors unit of Marcus & Millichap as director at its Los Angeles office. He joins the brokerage from JLL, where he also was director. He will continue to help clients buy and sell...
Capital One Lends $29.2Mln Against 4 Manhattan Apartment Buildings
Capital One has provided $29.2 million of financing against four apartment properties with 271 units in Manhattan. The loan allowed the owner of the buildings, Bronstein Properties of Queens, N.Y., to retire $13.3 million of debt that Dime Community Bank...
Berkeley Point Lends $47.4Mln Against Denver Apartments
Berkeley Point Capital has provided a $47.4 million Freddie Mac loan against the 224-unit Encore Evans Station Apartments in Denver. NKF secured the loan on behalf of Treeline Multifamily Partners, which had acquired the property from Encore Enterprises, its developer,...
CMBS Loan Against Hawaii Mall Defaults, Transfers to Special Servicer
Commercial Real Estate Direct Staff Report The largest loan in the collateral pool of GS Mortgage Securities Trust, 2014-GC26, is now classified as being more than 30 days late, and the owner of the shopping mall that it encumbers is...
Nationwide Life Lends $26Mln Against Birmingham, Ala., Apartments
Commercial Real Estate Direct Staff Report Nationwide Life Insurance Co. has provided $26 million of financing against the 336-unit Crowne at Grandview apartment property in Birmingham, Ala. The loan allowed the property's owner, Crowne Partners Inc. of Birmingham, to retire...
147-Unit Apartment Property in Southern Calif. Sells for $49.7Mln
An affiliate of Silver Star Real Estate has paid $49.7 million, or $338,095/unit, for the 147-unit Amber Ridge Apartments in La Verne, Calif., some 30 miles east of Los Angeles. To help fund its purchase, Silver Star lined up an...
Valley National Bank Lends $49.3Mln Against Brooklyn, N.Y., Apartments
Commercial Real Estate Direct Staff Report Valley National Bank has provided $49.3 million of financing against the 105-unit apartment building at 2442 Ocean Ave. in Brooklyn, N.Y. The loan allowed the property's owner and developer, Lay Assets of Brooklyn, to...
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