Finance Lending
Hypo Real Estate Closes $126M Loan for San Francisco Office Acquisition
May 2, 2008

Hypo Real Estate Capital Corp. has closed a $126 million loan for the acquisition of Ygnacio Center in Walnut Creek, Calif., which lies in the East Bay region of the San Francisco Bay area.  The sponsor of the deal is Legacy Partners Realty Fund III L.L.C.  Ygnacio Center is situated on the intersection of Ygnacio Valley Road and Northern California Boulevard. The four-building property is adjacent to the Walnut Creek BART -- Bay Area Rapid Transit station. It consists of three mid-rise class A office buildings, and a parking structure. The property was developed in three phases over a period of 30 years and is currently 89 percent occupied. The property’s amenities include a 23,000-square-foot 24-hour fitness center, Starbucks and two cafés.

 
Recent Lending Headlines
$100M Fund Formed for Affordable Housing in LA
July 22, 2008
The City of Los Angeles has joined forces with Enterprise Community Partners to establish the $100 million New Generation Fund, the city's first multi-million-dollar financing tool for the development and preservation of affordable housing.
Dougherty, Paul Perseus Kicks Off $1B Participating Loan Program
July 21, 2008
Perseus Realty Partners L.L.C. has launched a new participating loan program that will provide one-stop shopping for a total of up to $1 billion in financing for office, retail, industrial and multi-family projects nationwide.
Pratt Secures $112M in Financing for New Louisiana Paper Mill
July 21, 2008
Pratt Industries U.S.A., one of the country’s largest paper and packaging companies, has secured $112 million through GE Commercial Finance Corporate Lending to fund the development, construction, and operation of a greenfield recycled containerboard facility in Shreveport, La.
NorthMarq Arranges $46M Financing for Maryland M-F
July 21, 2008
NorthMarq Capital Inc.’s Washington, D.C., office arranged a $46 million senior mortgage acquisition financing for the The Park at Kingsview, a 326-unit multi-family property in Germantown, Md.
lefleur jeff W. P. Carey Closes European Sale-Leaseback
July 21, 2008
W. P. Carey & Co. has reported that CPA(R):16 - Global, its publicly held non-traded REIT affiliate, has provided approximately 19 million euro of sale-leaseback financing to Schoeller Arca Systems through the acquisition of two manufacturing facilities located in Monheim, Germany and Nurieux, France.
 

 

REal Talk with Adam Perrotta
July 23, 2008
By Adam Perrotta, News Writer --It appears as though the tide of opinion calling for government aid for the foreclosure crisis has impelled President Bush to drop his opposition to a $3.9 billion housing rescue bill. Whether Bush's reversal was...

Sterling JV Pays $38M for Tampa Apartments Despite Soft Market
July 23, 2008
By Scott Baltic, Contributing Editor -- Sterling American Property Inc., in a JV with The Collier Cos., has purchased the St. Croix Apartments, a 540-unit, gated, resort-style apartment community in Tampa, for just north of $38 million. The seller was...

Trio of Projects to Bring 1.7M SF to Suburban DC
July 23, 2008
By Barbra Murray, Contributing Editor -- The souring economy hasn't altogether dampened development activity. In the Washington, D.C., suburb of Arlington, Va., news has emerged about three new office and mixed-use projects that will bring a total of 1.7 million...

Westcore Sells Vienna Office for $39M
July 23, 2008
By Thomas Peretti, Contributing Correspondent -- Westcore Properties has announced the sale of a Class A Austrian office building. The 125,000-square-foot property sold for $39.2 million (24.5 million Euros) to Credit Suisse Asset Management Immobilien Kapitalanlagegesellschaft mbH. The six-story building...

Bush Drops Resistance to Housing Bill; House Expected to Vote Today
July 23, 2008
By Erika Schnitzer, Associate Editor, Multi-Housing News -- Despite his objections over a $3.9 billion provision that would assist communities devastated by foreclosures, President George W. Bush today dropped his opposition to housing rescue legislation. He was previously threatening to...

Top Brokers Do Deals in Bad Markets, Too
July 18, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Many in the industry long for the frothy markets of 2005 when sellers experienced record low cap rates, buyers were aided by loose credit and a strong flow of funds from the capital...

Know Thy Customer
July 11, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --How well do you really know your customer? Let me put this as simply as I can. If you want to succeed in business you must be in touch with the demands of...

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...