Finance Lending
$41M Financing Deal Closes for Dallas-Area MF
May 14, 2008

A financing package valued at approximately $41 million has been put in place for the 600-unit St. Marin/Karrington Apartments complex in Coppell, Texas, about 30 miles from downtown Dallas. The borrower, Williams Multifamily Realty Advisors L.L.C., relied on Irvine, Calif.-based Johnson /Capital to orchestrate the financing, which came in the form of two loans; an existing $31.3 million fixed-rate loan was assumed by Freddie Mac, and the lender supplied an additional $9.6 million loan at a fixed-rate of 5.64 percent. Presently 93 percent occupied, the 600,000-square-foot property consists of two separate structures built in 1999 and 2001, respectively.

 
Recent Lending Headlines
Corus Bank Completes $60M Loan to Finance MF Construction in Washington, D.C.
July 03, 2008
Corus Bankshares Inc. said that its banking subsidiary, Corus Bank, closed a $60 million loan to a joint venture between The Cohen Cos. and O’Connor Capital Partners L.L.C. to finance the construction of Velocity, a 14-story condominium building located at 1025 First Street SE in Washington, D.C.
Carlton Arranges $630M Equity, Debt Recapitalization of Manhattan Retail Complex
July 03, 2008
Carlton Advisory Services announce the $630 million equity and debt recapitalization of the retail condominium at 666 Fifth Avenue in New York City.
$7B Loan for Las Vegas Sands?
July 03, 2008
Las Vegas Sands Corp. is considering taking out a $7 billion loan to expand and refinance debt for its endeavors in Macau, according to a Bloomberg article.
Holliday Fenoglio Arranges $23M Construction Loan for Houston Office Development
July 02, 2008
The Houston office of Holliday Fenoglio Fowler L.P. arranged a $23.5 million construction loan for a speculative class A, 180,000-square-foot office development in The Woodlands, Tex.
JV Lands Largest U.S. Construction Loan of Year
July 01, 2008
The Carlyle Group, Extell Development Co. and RREEF Alternative Investments have pulled off quite a financing coup, securing a $613 million construction loan for an upscale two-building residential project in Manhattan. The financing deal represents the biggest construction loan attained in the United States thus far this year.
 

 

$8.9B Penn Gaming Merger Crumbles
July 03, 2008
By Barbra Murray, Contributing Editor After spending the last few months attaining all the requisite approvals from various gaming commissions and boards, Penn National Gaming has put the kibosh on its proposed $8.9 billion merger with PNG Acquisition Company Inc.,...

Colonial Properties Trust Sells 5 Apartment Communities for $82M
July 03, 2008
By Gail Kalinoski, Contributing Editor Colonial Properties Trust, a multi-family-focused REIT, is continuing its plan to dispose of older assets by selling five apartment communities in two transactions for a total of $81.8 million. The buyer or buyers were not...

H&R Sells 11 in Canada
July 03, 2008
By Thomas Peretti, Contributing Correspondent -- H&R Real Estate Investment Trust has announced the completion of the sale of eleven retail properties. The firm netted approximately $72 million from the transaction. The company expects approximately a $9 million return on...

LA Developer Partners with Vegas Officials for Museum, Hotel Redevelopment
July 03, 2008
By Tonie Auer, Southwest Correspondent -- Less than a year after entering the Las Vegas market with the acquisition of the Lady Luck Hotel and Casino, Los Angeles-based CIM Group won a deal with the city to develop land adjacent...

Lightstone Acquires Interests in 20 Outlet Centers in $456M Deal
July 02, 2008
By Barbra Murray, Contributing Editor Lightstone Value Plus REIT will soon have a stake in 20 factory outlet centers, now that it has signed on purchase from 22.54 to 25 percent interests in the properties from affiliates of Arbor Mortgage...

How to K.I.S.S Problems Goodbye
June 27, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Keep It Simple Stupid. One of the most effective ways to order your world is to simplify everything you encounter. The problem is that keeping it simple often becomes very difficult when our...

Does Appearance Matter?
June 20, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --So, do appearances really matter? They shouldn't, but the reality is that they most certainly do. As the old saying goes, "you only get one chance to make a first impression," and often...

Recognizing the Need for Change
June 13, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Since the title of today's column is "Recognizing the Need for Change," I'm going to switch things up a bit and ask you to answer a question posed by me. I first warned...

How to Reduce Employee Turnover
June 06, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Few things in business are as costly and disruptive as unknowingly having the proverbial revolving door for employees to exit from. While there are many secondary and tertiary items that can influence an...

How To Delegate for Success
May 30, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --If you desire to become a top CEO it will be essential for you to master the art of leveraging down. Think of any top performing CEO and you'll find that to the...