Finance Lending
Transwestern Provides Capital Markets Advisory Services for Solaris Residences
July 15, 2008

Transwestern's Structured Finance Group has provided capital markets advisory services for a $325 million capital structure for the construction of Solaris Residences. The structure consists of a first mortgage construction loan, a mezzanine loan, public financing and a large equity component. Solaris is a mixed-use development in what will become the new center of Vail Village, in the town of Vail, Colo. The project will consist of 77 residences situated above 70,000 square feet of commercial space and a large public plaza. Solaris will also contain approximately 300 underground parking spaces and house Vail Village's only movie theater, bowling alley and ice skating rink.
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Recent Lending Headlines
$167M Construction Loan in Place for Brooklyn M-F Project
Aug. 21, 2008
Forest City Ratner Cos. has closed on a $167 million construction financing deal for 80 DeKalb, a 365-unit apartment project in Downtown Brooklyn. The New York State Housing Finance Agency approved the project for $109.5 million in tax-exempt bonds and an additional $27.5 million in taxable bonds.
Omega Opportunity Fund I to Launch, Focus on Quality Development Projects
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Omega Commercial Finance Corp. is creating and will soon launch Omega Opportunity Fund I L.L.P., it has announced.
Apollo to Pursue Additional RE Debt Acquisition
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There's little doubt that debt, besides being the raw material of the real estate crunch, is also a pretty hot commodity in some ways, as property values decline and loan-to-value ratios shift. In recent weeks, as reported by CPN, such investors as the new Investcorp Real Estate Credit Fund L.P. and Inland American Real Estate Trust have been eager to snap up real estate debt.
PNC Finances $354M for Trio of California Projects
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PNC has provided a total of $354.4 million in financing to three separate projects in California.
NorthMarq Arranges $45M Mortgage for Palm Grove Center
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NorthMarq Capital Inc.’s Los Angeles regional office arranged first mortgage financing of $45 million for Palm Grove Center located in Redlands, Calif.
 

 

Pacific Office Properties Nabs $195M Portfolio
August 21, 2008
By Michael Fickes, Contributing Correspondent -- Pacific Office Properties Trust Inc. and an institutional co-investor have acquired a portfolio of seven Southern California office complexes for $195 million. The combined properties contain more than 1 million leasable square feet across...

$167M Construction Loan in Place for Brooklyn M-F Project
August 21, 2008
By Barbra Murray, Contributing Editor -- Forest City Ratner Cos. has closed on a $167 million construction financing deal for 80 DeKalb, a 365-unit apartment project in Downtown Brooklyn. The New York State Housing Finance Agency approved the project for...

Prime Income to Build $733M Resort in Germany
August 21, 2008
By Amanda Marsh, Associate Editor -- Dallas-based Prime Income Asset Management and Port Olpenitz GmbH are ready to break ground on the approximately $733 million, 425-acre Port Olpenitz, a holiday resort located in the northeastern section of Schleswig-Holstein, Germany. The...

Grubb & Ellis Realty Investors Nabs 199,000SF Atlanta Office
August 21, 2008
By Barbra Murray, Contributing Editor -- One Live Oak, a 199,000-square-foot office property in Atlanta, has just been snapped up by Grubb & Ellis Realty Investors L.L.C., which made the purchase on behalf of tenant-in-common investors. Crescent Real Estate Equities...

220-Acre Mixed-Use in Works Near University of Missouri
August 20, 2008
By Barbra Murray, Contributing Editor -- A 220-acre parcel near the University of Missouri's Discovery Ridge research park in Columbia is on tap to sprout a gargantuan mixed-use project. Forum Development Group, the owner of the land, recently wrapped up...

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