Finance Lending
Cutting Principal on Loans Bad Idea: Lenders
According to The Wall Street Journal today, the part of the legislation to offer relief to distressed home-owners, passed by the House yesterday, that would encourage principal reduction, is not a big hit with lenders.
Ontario's Next Generation Jobs Fund Likely to Have Real Estate Impact
The government of Ontario is on the verge of awarding a new series of grants to local businesses, a move that promises to stimulate demand for certain kinds of real estate indirectly, particularly space suitable for high-tech research or manufacturing.
$165M Loan Moves Mixed-Use Hotel Project Forward in Austin
Development of the W Hotel & Residences in Austin gets a boost now that construction financing has been put in place.
$375M in Funding to Kick Off Michigan Casino Project
The last piece of the financial puzzle for constructing the FireKeepers Casino in Battle Creek, Mich., has been put in place with the FireKeepers Development Authority's closing on $375 million in financing.
550 west washington $72M Financing Closes for Windy City Office
A financing package valued at $72.1 million has been put in place for the 371,400-square-foot office building at 550 West Washington in Chicago.
$18M Loan Paves Way for Beverly Hills Office & Retail Building
A plan to convert a former gas station site in Beverly Hills into the home of a 30,000-square-foot spec office and retail structure gets a boost with Newmark Realty Capital Inc.'s orchestration of an $18.1 million loan for the project
Franklin Credit Announces Hedge Agreements
Franklin Credit Management Corp. has announced that it has entered into interest rate swap agreements in order to hedge an additional portion of its interest-rate-sensitive borrowings against future increases in short-term interest rates.
Corporate Office Properties Closes $225M Revolving Construction Facility
Corporate Office Properties Trust has announced it closed on a $225 million construction loan facility that will be utilized to fund most of its construction costs over the next several years.
Krolman, Janet GE Real Estate Funds $960M for 34-Property iStar Portfolio
New York City-based iStar Financial Inc. has taken a single-source $960 million loan against a portfolio of 34 triple-net-leased single-tenant properties. Holliday Fenoglio Fowler L.P.  arranged the adjustable-rate, interest-only loan through GE Real Estate.  
Brookfield Real Estate Services Fund Announces Interest Rate Swap Agreement
Brookfield Real Estate Services Fund has announced that it has completed an interest rate swap agreement with the Canadian Imperial Bank of Commerce, which fixes the interest rate on its recently completed $15 million term facility at 4.29 percent with effect from April 7, 2008.
Bridge Loan Paves Way for Conversion of Retail Property to Residential in Boston Area
Boston-based Abbott Real Estate Development has secured a  bridge loan for its planned conversion of a former Wal-Mart store in Weymouth, Mass., into a 150-unit apartment complex.
Hypo Real Estate Closes $126M Loan for San Francisco Office Acquisition
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.
Marcus & Millichap Capital Arranges $30M Loan for Denver Apartment Complex
A $30.6 million non-recourse loan arranged by Marcus & Millichap Capital Corp. helped Security Properties Inc. of Seattle re-enter the Denver market with the $37 million purchase of The Aventine, a 336-unit apartment complex.
Wrightwood Loans $28M for Seattle Office Buy
Wrightwood Capital has provided $28 million to finance the acquisition of an office building in Seattle by The Mayfield Cos.
First Financial Markets $400M in M-F Loans
It's a sign of the times. Acting on behalf of a top banking institution, First Financial Network Inc. has just commenced an offering of more than $400 million in real estate loans on multi-family properties in the South and Southeast.
InStorage REIT Taps Kan for Senior Management Appointment
InStorage Real Estate Investment Trust has announced that Judy Kan has been appointed senior vice president for investments.
GE Provides $100M to Recapitalize 330 Wabash in Chicago
GE Real Estate has announced it provided a $100 million on-book bridge loan to an affiliate of Prime Group Realty Trust to recapitalize and reposition 330 N. Wabash, a Class A office building located in the River North area of Chicago, Ill.
Franklin Wisconsin Hospital to Open
Wheaton Franciscan Healthcare's hospital in Franklin, Wisc., is set to open today, according to a report by Alysha Schertz of Wilwaukee's Small Business Times.
U.S. Firm Awarded $2.5B High-Tech Turnkey Development Contract in China
Irvine, Calif.-based Trussnet USA Development Co. has won a finance, design and build contract for the facilitation of a high-tech, mixed-use turnkey development in China. The project, which will encompass 12.9 million square feet, will cost an estimated $2.5 billion to complete.
Colonial: Now Banks May Weigh in
Colonial's biggest shareholders borrowed the money to buy into the company; now the banks they got the loans from may take the troubled Spanish real estate firm's shares to work out the debts, according to a Reuters News report.
PREA Keynote Panel Offers Cloudy Economic Forecast
The Federal Reserve’s actions have staved off a capital-markets catastrophe for the moment, but the economy is by no means out of the woods, experts on the keynote panel at the Pension Real Estate Association’s spring conference in Boston said Wednesday.
Developers Diversified Secures $500M in New Credit
Flying in the face of a tight new credit environment, Cleveland-based Developers Diversified Realty has in recent weeks secured a little more than $500 million in new loans and lender commitments. The total comes from various sources, including insurance companies and commercial banks.
CEOs Assess Capital Markets’ Ups, Downs at PREA Meeting
How tough will it get for the real estate capital markets before it gets better? That was the question top executives tried to answer yesterday afternoon at the Pension Real Estate Association’s spring conference in Boston.
Experts Clarify Credit Crunch's Impact on Deal Financing
Financing deals during the ongoing credit crunch has left a lot of question marks, but three experts at this morning's Commercial Real Estate Due Diligence conference, hosted by IncreMental Advantage in New York City, shed some light on the market and what both borrowers and lenders can expect in the near future.
InterRent REIT Adds to Ontario Portfolio
InterRent REIT has added 264 suites to its Ontario portfolio, The REIT reported.
 

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