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