Subject: Mortgages/Financing (MOR)

PCCP LLC has purchased a $99.3 million performing loan against The Star, a mixed-use property at 1111 Rusk St. in downtown Houston. The Los Angeles investment manager bought the loan from TPG Real Estate Finance Trust, which suffered a loss ...

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 ...

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 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, ...

South Florida Business Journal Big Time Productions has sold the 25,589-square-foot Paris Theater in Miami Beach, Fla., for $13 million, or about $508.03/sf. A company managed by Mathieu Massa, head of Massa Investment Group, bought the property, which sits on ...

The Real Deal Delshah Capital has filed a lawsuit against Free People, alleging that the retailer has failed to make rent payments for the 6,800 sf it leases at 58-60 Ninth Ave. in Manhattan. The New York company terminated Free ...

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 ...

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 ...

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 ...

Commercial Observer Heritage Equity Partners has begun Chapter 11 bankruptcy proceedings against its planned 144-room hotel project at 232 Seigel St. in Brooklyn, N.Y. The New York developer bought the project's development site, in the borough's Bushwick neighborhood, in 2015 ...

Commercial Real Estate Direct Staff Report CBL & Associates Properties Inc. late last week had struck forbearance agreements with holders of its unsecured notes, giving the Chattanooga, Tenn., REIT a few more days to negotiate with those lenders. The agreements ...

JLL Capital Markets has arranged $28 million of Fannie Mae financing for the 456-unit Cliffs at Minnetonka apartment property near Minneapolis. The 10-year loan, which pays a fixed coupon, was used to refinance existing debt. JLL's Delegated Underwriting and Servicing ...

Pensam Capital has provided $52 million of mortgage financing against the 230-unit Rise Central apartment complex in Beaverton, Ore. The three-year loan, which has the ability to be extended, allowed the owner, Rembold Properties of Portland, Ore., to refinance existing ...

Bank OZK, Pearlmark Real Estate and Monroe Capital have provided $174.5 million of senior and mezzanine financing for the development of 300 North Michigan Ave., a 47-story mixed-use building in downtown Chicago. The property is being developed by a venture led ...

The coronavirus pandemic is having a severe impact on commercial mortgage originations, which the Mortgage Bankers Association predicts could result in volumes declining this year by a whopping 60 percent to roughly $250 billion. Volumes would rebound next year, but ...

Madison Realty Capital has provided $150 million of financing to facilitate WS Communities' renovation efforts at six apartment properties and the development of two more in Southern California. The loan was arranged by Avison Young and RST Capital Partners of ...

Commercial Real Estate Direct Staff Report Braemar Hotels & Resorts Inc. has struck a deal to modify another $370 million of mortgage debt. That brings the volume of loans that the Dallas REIT, formerly Ashford Hospitality Prime Inc., has been ...

Braemar Hotels & Resorts Inc. has struck a deal to modify another $370 million of mortgage debt. That brings the volume of loans that the Dallas REIT, formerly Ashford Hospitality Prime Inc., has been able to modify to $695 million. ...

Preferred Apartment Communities Inc. saw a marked decline in rent collections at its 52 retail properties last month, to 82 percent from 87 percent in May. That's a sharp contrast to the collections rate at the Atlanta REIT's apartment, student-housing ...

Grandbridge Real Estate Capital has arranged a $26.2 million Freddie Mac loan against the Commons apartment property in Sioux Falls, S.D. The 10-year loan requires only interest payments for the first three years, then it amortizes on a 30-year schedule. ...

Commercial Observer Capital One has originated $92 million of Freddie Mac financing against a portfolio of four apartment properties with 822 units in Delaware. Meridian Capital Group arranged the debt, which consists of three loans that each have 10-year terms ...

New York Post Macklowe Properties has stopped paying rent at the GM Building in Manhattan. The New York real estate investor leases 28,000 square feet at the 2 million-sf office property. Its monthly bill is for about $233,000. A venture ...

Commercial Observer Savanna has lined up $303.5 million of financing for its purchase of 1375 Broadway, a 513,000-square-foot office building in Manhattan. Brookfield Real Estate Finance originated the financing. It kept a $103.5 million mezzanine position and syndicated $200 million ...

Commercial Real Estate Direct Staff Report Pyramid Cos. has negotiated the workout of a $430 million CMBS loan against the two phases of its Destiny USA Mall in Syracuse, N.Y., and is moving toward getting the securitized loans against five ...

Commercial Real Estate Direct Staff Report MetLife has provided $48 million of financing to help fund Cortland's acquisition of the 342-unit Broadstone Durham apartment complex in Durham, N.C. As reported, the Atlanta real estate investment company bought the property for $87.2 ...