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Commercial Mortgage News | CRE Lender Directory | CRE Statistics
Stories about commercial lending on multifamily, office, retail and industrial properties.

Issue Number 93, November 1, 1999

Commercial Mortgage Stories
Commercial Mortgage Technology
First Union Receives $29.6 Million Second Mortgage Financing

15% loan on 783,000 sq ft shopping mall in St. Cloud, Minnesota was obtained from General Growth Properties, Inc.

Individual.com October 29

Prudential Originates $42.2 Million Loan for Santa Rosa Mall

Financing for Florida mall is converts from interim to permanent in 24 mths

BusinessWire.com October 27

Capital Senior Living Corporation Reports 25 Percent Increase in Third Quarter 1999 Earnings

$27 million in construction financing for new communities brought total available for new properties to $54 million; $46 million in permanent financing was obtained to refinance five properties

StarTribune.com October 27

Rising housing prices fuel condo conversions

324 unit Denver apartment complex purchased for $35 million to be converted and sold from $100,000 a piece

DenverPost.com October 26

Prudential Funds $73.5 Million Multi-family Housing Loan With Cornerstone

The loan is secured by a portfolio of 10 apartment communities totaling 2,330 units located in Georgia, North Carolina and South Carolina

Individual.com October 26

Ocwen Financial Corporation Opens National Servicing Center

125,000 sq' facility in Orlando, Florida will house approximately 900 employees

BusinessWire.com October 22

Farmer Mac Reports 60 Percent Increase in Third Quarter Earnings

While earnings for the quarter were up 60 percent over third quarter 1998, loan purchases and guarantees fell significantly below second quarter levels, and delinquencies increased

PRNewswire.com October 21

MuniMae Completes Acquisition of the Midland Companies

Company Now Manages $1.7 Billion of Multifamily Real Estate Debt & Equity Investments

Businesswire.com October 20

Apex Mtge Group 'Disappointed' Impac Won't Form Committee

Apex has made a $75.4 million offer to acquire Impac, which in August agreed to be acquired by a division of Amresco for $60.1 million

WSJ.com October 18

Imperial Credit Commercial Mortgage Investment Corp. Announces Expiration of 60-Day Market Check Period

None of the proposals received during the 60-day market check period was superior to the proposed merger transaction with ICII

CBSNews.com October 18

GMAC Commercial Mortgage Provides $17 Million In Financing for Arizona Apartment Complex

Loan is at 7.85 percent & has a debt to service coverage of 74.7 and ltv of
1.25 percent

PRNewswire.com October 18

Reilly Mortgage Group Arranges More Than $750 Million in Financing

Financing for Berkshire Realty Holdings, L.P. is structured into three investment tranches

NewsPage.com October 18

AMLI Residential Sells Three Apartment Communities

Aggregate price for Chicago properties was $49.75 million

CBSNews.com October 18

RioCan Real Estate Investment Trust Completes Acquisition Of Interest In Festival Hall

10 year mortgage for $46 million at an effective interest rate of approximately 6.3%

NewsPage.com October 15

N.O. developer buys Standard buildings

Florentine Development Corp., a New Orleans company, paid $1.7 million for property to be used for condos & parking

NewOrleans.net October 14

Abbey Company Closes on $85.2 Million Loan with J.P. Morgan

Loan is set at more than three-quarters of a point below the prime rate of 8.25 percent

CBSNews.com October 14

MuniMae Provides $28 Million Financing Package to Multifamily Portfolio

The financing is part of a tax-exempt bond refunding of a portfolio of twelve apartment complexes totaling 2,942 units in Florida, Georgia, South Carolina, Indiana and Iowa

BusinessWire.com October 14

CNL Provides $22.2 Million Financing for Quality Dining Inc

Orlando restaurant financing company provides financing for Burger King and Chili's Grill & Bar restaurants

BusinessWire.com October 13

Seattle Mortgage Provides $1.6 Million For Burien Retail Development

CBSNews.com October 13

MBA Releases Annual Commercial Mortgage Production And Servicing Survey

Annual survey reports that the 27 firms surveyed originated $30.4 billion

MBAA.org October 11

AMRESCO Securitizes $70 Million of SBA Loans

Loans originated under Small Business Administration (SBA) 7(a) program

AOL.com October 11

Survey: Real Estate Leaders Now Identify Technology Revolution as Major Factor in Making Investment Decisions

Emerging Trends in Real Estate 2000(R)- the annual survey of the world's leading real estate experts

GO.com October 25

Quicken.com to Offer Instant Online Loan Approvals for Small Businesses Through LoanWise

The Loan Wise service will act as the exclusive provider of small business loans and lines of credit on the Quicken.com site

NewsPage.com October 13

CyberLoan Network Loan Application Volume Tops $700 Million in August, Nearly $3.6 Billion in First Eight Months

CBSNews.com October 1