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

Mortgage News


Mortgage News

HOT Topics









site map

twitter linkedin
facebook google+

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.

Retail Rules

Recent commercial mortgage transactions

November 23, 2007


photo of Coco Salazar

While retail properties dominated the latest round of commercial lending activity, one multifamily deal came through and an industrial building secured the largest amount of funds.

In Fort Worth, Texas, the Lancaster Shopping Center secured a $0.6 million first mortgage funded by Government Personnel Mutual Life Insurance Co., NorthMarq Capital Inc. said. Square Foot Inc. will repay the 10-year loan on a 25-year amortization schedule.

StanCorp recently provided a $4.0 million mortgage for a Gold's Gym of 12,770 square feet in Miami Beach, Fla., Thomas D. Wood and Co. reported. The 15-year loan has a permanent fixed rate of 6.75 percent with a 25-year amortization and LTV of 60 percent.

A Burger King/Chevron Mini Mart secured a $0.7 million 25-year first mortgage with 25-year amortization, Minnesota-based NorthMarq said. The Sun Enterprises Holding Inc. received the funds for the Hampton, Ga., property of 6,651 square feet from StanCorp Mortgage Investors LLC.

MNA Properties LLC secured a 3-year $1.9 million bridge loan at an interest rate of 8 percent, 25-year amortization and loan-to-value of 55 percent. The two-story office building of 43,655 square feet is located in Miami, Fla., according to Coral Gables-based Thomas.

photo of Burger King

NorthMarq said it arranged equity financing of $9.6 million and a first mortgage of $30.3 million for the purchase of a pair of first-class office buildings in Morris County, N.J.

The largest loan in this round of commercial activity -- $78.0 million in fixed-rate, permanent financing -- was funded by Met Life and backed by seven Class A industrial properties in the Midwest, totaling nearly 2.5 million square feet. Capmark said it originated the loan for Liberty Illinois LP.

Over in Rochester, N.Y., the Inn on Broadway collateralized a $2.5 million first mortgage funded by Canandaigua National Bank, NorthMarq said. The property includes a 23-room boutique hotel and Tournedos Steakhouse.

A refinance loan of $2.0 million was secured by the Outdoor RV Storage Co. in Fort Myers, Fla. Stancorp funded the loan based on a permanent fixed rate of 6.75 percent for a 5-year term, 25-year amortization, and LTV of 75 percent, Thomas D. Wood and Co. announced.

Freddie Mac approved a $51.0 million loan collateralized by the Hawthorne House, a Chicago, Ill., multifamily property of 455 units. California-based Capmark Finance Inc. said it originated the 10-year loan with a 5.74 percent interest rate and 30-year amortization schedule, which includes an interest-only period.

photo of Inn on Broadway

photo of Heritage Point

Heritage Pointe, a 96-unit assisted living facility in Omaha, Neb., reportedly found bridge financing of $12.7 million through NorthMarq. Merrill Lynch Capital funded the loan issued to Heritage Pointe LLC based on a 3-year term interest only.

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

e-mail: [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


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