home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

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


Commercial Deals Still Get Done

Recent commercial mortgage financing activity

August 17, 2007

By COCO SALAZAR


photo of Coco Salazar

Three of the latest multifamily deals found more than $50 million in financing while one commercial lender boasted about the billion dollars in hospitality secured mortgages it has closed over the past three years.

In the first half of the year, Laureate Capital LLC closed $368.9 million in transactions for 55 hospitality properties predominately located in the mid-Atlantic and Southeast, a news release indicated. Such properties include Holiday Inn Express, Comfort Suites, Fairfield Inn & Suites, Best Western, Marriott Courtyard, Econo Lodge, LaQuinta Inn, Hampton Inn and the Hilton Garden Inn. The BB&T Corp. commercial lending subsidiary serviced $9.7 billion in loans as of June 30.

"We have closed well over $1 billion in hospitality transactions in the past three years," Laureate said in the announcement. "This surge in hospitality financings has been driven by improved property economics and a favorable financing environment."

photo of Goodyear building Love Funding closed a bridge loan of nearly $3.3 million for the Goodyear Retail Building in Goodyear, Ariz. The acquisition loan for the 33,696-square-foot retail property holds a fixed-interest rate of 7.32 percent and a loan-to-cost ratio of 85 percent. Goodwill Industries will be the single tenant once a contract with the current tenant, Dave Furniture, expires in one year, Missouri-based Love reported.

A $1.2 million first mortgage was issued for the refinance of a mixed-use property consisting of four two-story buildings, White Plains, N.Y.-based Houlihan Parnes/iCap Realty Advisors LLC announced. The Queens, N.Y., property, containing four commercial stores and four apartments, secured a 1-year interest only loan with no prepayment penalty after six months.

Jemsco Realty LLC was able to acquire a 59,000 square-foot building through a $25 million loan arranged by New York-based Meridian Capital Group. The financing holds a rate of 6.23 percent over a 10-year term with five years interest only. With tenants being primarily businesses associated with the diamond and jewelry trade, the 16-story, New York building has a ground floor jewelry exchange.

The Verndale Apartments in Delta Township, Mich., secured a $2.75 million refinance loan through Arbor Commercial Funding LLC. The Uniondale, N.Y.-based lender said the 10-year loan for the 74-unit complex amortizes over 30 years, carries a 5.76 percent rate and was approved by Fannie Mae.

JP Morgan Chase Bank N.A. provided a $22.75 million short-term mortgage that allowed NTS Realty Holdings LP and an unaffiliated co-owner to complete the purchase of Creek's Edge at Stony Point. The borrowers satisfied the remaining purchase amount for the Richmond, Va., multifamily property with a $4.5 million increase in a mortgage on NTS' Lakeshore Business Centers I, II and III, and from working capital, a news release indicated.

photo of New York jewelry building
The Fisher Building, a high-rise apartment complex in Chicago, secured a $25.8 million refinance loan from Prudential Mortgage Capital Co., according to an announcement by commercial arm of New Jersey-based Prudential Financial Inc. Fannie Mae approved 10-year fixed-rate loan for the 184-unit building.

Coco Salazar is an associate editor and staff writer for MortgageDaily.com.

e-mail: MortgageWri[email protected]



SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders