Finance Mortgage Banking
Holliday Fenoglio Arranges $23M Construction Loan for Houston Office Development
July 2, 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. Working exclusively on behalf of Stream Realty Partners L.P., the firm placed the non-recourse construction loan with Wachovia Bank N.A.  Situated on 35.5 acres at 1601 Sawdust Road, the development site is within The Woodlands master planned community north of Houston via Interstate 45.  The property, which will be called Sierra Pines, is due for completion in January 2009 and is the first phase of a three-building, 540,000-square-foot office development.

 
Recent Mortgage Banking Headlines
JLL Arranges Sale of Sheraton Gateway Hotel at LAX
Aug. 21, 2008
Jones Lang LaSalle Hotels is pleased to announce the sale of the fee simple interest in the Sheraton Gateway Hotel at Los Angeles International Airport on behalf of its owners, Kor Hotel Group and its partners.
Shares of Fannie, Freddie Down Again
Aug. 20, 2008
Shares of Fannie Mae and Freddie Mac plummeted yet again today on renewed fears of the possibility that the government may be forced to bail out the beleaguered institutions.
U.S. Hotel Deals Down 81 Percent Mid-2008: JLL Report
Aug. 20, 2008
The volume of U.S. hotel transactions for the first six months of 2008 plunged 81 percent from the year-ago period, to $6 billion, according to a Jones Lang LaSalle Hotels. The firm based the conclusion on its proprietary database, which tracks transactions $10 million deals and above. In the first quarter 2008 transaction volume was relatively stronger at $3.4 billion.
Douglas Emmett Nabs $365M Loan
Aug. 19, 2008
Douglas Emmett Inc. has announced that it has obtained a non-recourse $365 million term loan to refinance the bridge loan that was obtained in connection with the REIT's acquisition of a six-office portfolio on March 26, 2008. This new loan is secured by the six-office portfolio.
Apollo to Pursue Additional RE Debt Acquisition
Aug. 19, 2008
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.
 

 

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...

Is Family Business a Good Idea?
August 15, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Oh what a conundrum! Family business: Should I, or shouldn't I? In my opinion there really isn't a right or wrong answer to this question. It is simply a matter of personal preference....

What to Do When Marketing Goes Wild
August 08, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Have your company's marketing initiatives wandered astray? Is the proverbial tail starting to wag the dog with respect to your current marketing campaigns? How do you know when marketing is out of control?...

Six Mistakes Real Leaders Avoid
August 01, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --I recently had a reader ask: "Is there a simple test that can be used to quickly determine an executive's leadership ability?" The short answer is yes. There are, in fact, a great...

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...