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.

Deal Of The Century

This week's commercial mortgage loan activity

September 10, 2001


FelCor Lodging Trust Incorporated (NYSE: FCH) -- a hotel real estate investment trust with a portfolio of 185 upscale and full-service hotels -- announced that it received a minimum commitment of $325 million for a non-recourse first mortgage loan and related mezzanine financing. The financing is being put in place in connection with the May 10th announcement of FelCor's $2.7 billion acquisition of MeriStar Hospitality Corporation (NYSE: MHX). Morgan Guaranty Trust Company of New York and Deutsche Bank are providing a first mortgage loan, which will be secured by 17 hotels. The loan will bear interest at a blended rate of approximately LIBOR + 2.00%, and the initial term will be three years extendible for an additional two years, subject to certain conditions. .

HomeStreet Capital has provided $24 million in financing for construction of the Marshall Wells Lofts condominium project in Portland, Oregon. The 280,000 square foot seven-story historic warehouse building, originally constructed in 1910, will be converted to 164 loft-style residential condominium units, 188 parking stalls, and 5,000 square feet of ground floor retail area. Renovations and replacements will be done within Historic Preservation guidelines to maintain eligibility of this property within the Historic Landmark Agreement.

Prudential Huntoon Paige Associates, a business of the Prudential Mortgage Capital Company, announced that it recently originated a $7.8 million construction loan for Seaside Senior Care Associates Inc., which is building its first affordable assisted-living project in Oregon. The loan, insured by FHA, is secured by Necanicum Village, in Seaside, Ore., a 108-unit residential health care facility that combines independent living, assisted living and dementia care within one complex. The 40-year loan carries a 7 percent interest rate.

Prudential Huntoon Paige Associates also announced that it originated a $5.9 million mortgage for The Groves at East Tabor, a garden apartment complex in Fairfield, Calif., near San Francisco. The FHA-insured loan consists of a 35-year term, carrying an interest rate of 7.32 percent. This project was purchased two years ago using Section 42 tax credits and un-rated tax-exempt bonds. This loan provided FHA credit enhancement to refund the tax-exempt bonds with a AAA-rating.

Sam Garcia has been in mortgage lending since 1980, and is managing editor of MortgageDaily.com. He also owns and operates CloseNow.com, a real estate portal site.

email: [email protected]

hosted by USANow.net

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