Houston Business Journal Construction is underway on a 116,500-square-foot medical-office building in Houston. Healthpeak Properties Inc. is developing the five-story property at 7500 Fannin St. It already is 36 percent preleased and will include a parking garage that's being built ...
Commercial Real Estate Direct Staff Report Ladder Capital Corp. has increased its cash position to $830 million from $358 million at the end of March. It's also increased the volume of assets on its balance sheet that are unencumbered by ...
Colony Credit Real Estate Inc. has paid down and consolidated the repurchase agreements that it uses to finance its CMBS investments. The mortgage REIT said that it had met all margin calls on the repo agreements it used to finance ...
Park Hotels & Resorts Inc. has drawn the remaining $650 million of a $1 billion credit facility, increasing its cash on hand to $1.32 billion as it positions itself to deal with the repercussions of the coronavirus pandemic. The Tysons, ...
Commercial Real Estate Direct Staff Report Barry Sternlicht, co-founder and chairman of Starwood Capital Group, said mark-to-market rules, which have a cascading affect on asset values, ought to be suspended. In an interview on CNBC's Squawk Box program yesterday, he ...
Commercial Real Estate Direct Staff Report Pebblebrook Hotel Trust expects to suspend operations at all 54 of its properties by March 30 as part of a plan to save cash in the face of the coronavirus outbreak. The Bethesda, Md., ...
Commercial Real Estate Direct Staff Report Pennsylvania REIT is in discussions with lenders to modify terms of the company's credit facilities because it is at risk of not complying with certain debt covenants. Joseph Coradino, PREIT's chief executive, told analysts ...
WPT Industrial REIT has acquired 13 buildings with 2.2 million sf in five states for $226 million, or about $102/sf. The deal is the largest for the Toronto REIT, which was spun off from Welsh Property Trust six years ago. ...
Hersha Hospitality Trust has lined up a $475 million credit facility that consists of a $250 million unsecured revolving line of credit and a $225 million unsecured term loan. The loan facility includes an accordion feature that allows it grow ...
Behringer Harvard Opportunity REIT I and II are well into their property disposition phases. They've replaced their manager and sponsor, the former Behringer, with Lightstone Group. One has adopted a formal liquidation plan, while the other is moving forward with ...
Forest City Realty Trust Inc. has launched a strategic review that might result in it selling most of its retail exposure, which is comprised of 14 regional malls around the country and 19 specialty retail centers in New York. The ...
New York REIT Inc. and JBG Cos. have terminated an agreement reached earlier this year to merge. In May, the REIT stuck a deal to buy JBG, of Chevy Chase, Md., in a stock transaction that would have valued the ...
McMorgan & Co. has lined up a $100 million credit facility from PNC Bank that it will use to help fund acquisitions. The San Francisco investment manager, a unit of New York Life Investment Management Holdings, used the four-year facility, ...
Oak Grove Capital has originated a $437.8 million Fannie Mae credit facility for Brookdale Senior Living Inc. The financing has a seven-year term, with 75 percent of its balance carrying a fixed rate of 4.25 percent and the remainder a ...
Lenders led by Bank of America have provided a $75 million credit facility that could be doubled in size to Colony Financial Inc. The credit facility, which matures next September, but could be extended by a year, pays a rate ...
Wells Fargo Bank has provided Starwood Property Trust a $280 million repurchase agreement that allows the Greenwich, Conn., REIT to finance part of its recent acquisition of performing commercial mortgages from TIAA-CREF.The credit facility matures on May 31, 2013, and ...
Freddie Mac has provided a $150 million secured credit facility to Behringer Harvard Multifamily REIT I Inc., giving the company added firepower to acquire additional properties and fund improvements.The facility has a seven-year term and was provided through NorthMarq Capital, ...
Commercial Real Estate Direct Staff ReportMerrill Lynch has committed to provide $2 billion of debt, in the form of an unsecured credit facility, to Hospitality Properties Trust for its pending acquisition of TravelCenters of America Inc.Hospitality Properties, a Newton, Mass., ...
Glimcher Realty Trust has lined up a $470 million unsecured credit facility, effectively increasing its borrowing capacity from $300 million.The Columbus, Ohio, REIT said the facility has a three year term, expiring on Dec. 13, 2009, but could be extended ...
Weingarten Realty Investors has amended its $400 million unsecured revolving credit facility, extending its maturity to February 2010.The line, which is provided by a group of lenders arranged by JPMorgan Securities and Banc of America Securities, can be extended for ...
Brookdale Senior Living Inc., which went public just last November, has lined up a $330 million credit facility from Lehman Brothers, Goldman Sachs, Citigroup and LaSalle Bank.The credit is comprised of a $250 million acquisition facility and an $80 million ...
Healthcare Realty Trust Inc. has lined up a $400 million revolving credit facility from a group of 12 banks led by Bank of America.The facility refinances a $300 million line, which a Bofa-led group had provided, and matures in 2009, ...
BRE Properties Inc. has lined up a $600 million credit facility from a group of lenders led by Wachovia Bank and RBS Securities Corp.The facility has a four-year term and could be extended for an additional year. It pays a ...
Liberty Property Trust has lined up a $600 million unsecured credit line from a syndicate of lenders led by Bank of America and JPMorgan Chase.The facility replaces a $450 million line that was coming due next month. The Malvern, Pa., ...
Ashford Hospitality Trust Inc. has lined up a $100 million credit facility from UBS Real Estate Investments Inc.The facility carries a three-year term and carries a rate that ranges from 150 to 275 basis points above Libor, depending on the ...
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© 2023 Commercial Real Estate Direct All rights reserved.