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.


Apartments, Malls and Industrial Parks

Recent commercial mortgage transactions

August 4, 2003

By ANNE LINEBERRY


click here to read prior article about commercial transactions


click here to submit your commercial mortgage transaction for publication


Noble Mortgage & Investments LLC, reported funding a $1.7 million refinancing package for two Houston, Texas, apartment complexes. The loan carried an interest rate of 16 percent with a three-year term, a one-year prepayment penalty and a 20-year amortization, Noble said. Also, the first 60 days are interest only, according to the lender. The two complexes have a combined 232 units and one was under a condemnation notice at the time of the refinance, which is to be used for renovations, according to the statement. Also, Noble said it would donate a portion of the loan's earnings to a charity for abused children.

Penhorn Development received $3.9 million construction financing for a property in Seacaucus, New Jersey, in the Meadowlands industrial park, said Holliday Fenoglio Fowler, L.P., who arranged the deal. The funds are reportedly being used to complete Phase I of a two phase-project.

HomeStreet Capital, under the Fannie Mae DUS program, reported providing $12.75 million in refinancing to two Philadelphia-area apartments. Newtown Place Apartments has 150 units and Wynmere Chase Apartments has 80.

Fixed-rate refinancing in the amount of $22.9 million has been arranged for an apartment complex in Kirkland, Washington, said GMAC Commercial Mortgage Corporation, the company that closed the deal. The five-story Tera Apartments have a fitness center, clubhouse and swimming pool.

Prudential Mortgage Capital Company reported closing a $25.7 million loan secured by an apartment complex in Palm Desert, California. Canterra Apartment Homes is the subject of the 10-year loan, which carries a 5.55 percent interest rate and amortizes over 30 years, according to a statement on the Business Wire. The 306-unit garden apartments were built this year and are 96.5 percent occupied, the statement said.

GMAC reported providing a refinancing package for The Meridian Group. GMAC's $175 million deal included first mortgage debt, mezzanine debt and equity components for 3 Bethesda Metro Center, according to a press release. The Bethesday Hyatt Regency Hotel is part of the deal, the statement said, as is a 365,000-square-foot office building.

A Torrance, California, mall has been purchased for $442 million by The Mills Corporation, according to the purchaser. Part of the funding, a $316 million loan, was closed at the aquisition, Mills said. The three-year, interest only loan is based on the London Interbank Offered Rate plus 240 basis points and contians options for two one-year extensions, according to Mills, who said that the remainder of the cost will be provided from proceeds of its preferred offering and lines of credit. The Del Amo Fashion Center contains about 2.5 million square feet of leasable space, according to the statement. The International Council of Shopping Centers said it is in the top three malls, sizewise, in the United States.


Anne Lineberry is MortgageDaily.com's editor. She previously worked as an online editor/producer for DallasNews.com and on the Metropolitan desk for the print edition of The Dallas Morning News. Email Anne at [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