REC USA staff
The Downtown Los Angeles office market is gaining some clarity with Brookfield’s slated $145 million sale of 777 Tower following a $289 million debt default; NYU’s Stern Center calls for more green financing and decarbonization action from borrowers and lenders as regulatory pressure looms; Northwind Group places a rare bet on office with Jersey City asset financing amid broad sector headwinds; and more in today’s Term Sheet, exclusively for our valued subscribers.
Arbor Realty Trust shows US regional banks are not the only lenders facing increased scrutiny after logging higher-than-expected loan delinquencies and borrower troubles; Greystone Commercial Capital catches a wave on Miami’s lending momentum with $419.6 million refinancing deal for Florida East Coast Realty’s Panorama Tower; Starwood Capital and Artisan Ventures run into more Los Angeles office troubles with default on financing from MetLife Investment Management; and more in today’s Term Sheet, exclusively for our valued subscribers.
Join senior leaders from Trimont, Ballard Spahr, CREFC and REC USA to gain insights on advancing DE&I progress in the real estate industry.
Blackstone completes refinancing and extension, joining a wave of managers tackling an estimated $659 billion wall of loans maturing this year; Deutsche Bank and BMO Capital Markets co-lead a $333 million hotel portfolio CMBS securitization that signals continued industry interest in travel- and leisure-oriented hospitality; CalPERS feels office sector headwinds as a key New York tower in its portfolio suffers a nearly 12 percent value drop; and more in today’s Term Sheet, exclusively for our valued subscribers.
As of the start of 2024, debt funds made up roughly 20% of all funds in market by strategy, up for the second year in a row.
New York State Common allocated $250m to a KSL Capital Partners offering, while New York State Teachers made a pair of $150m allocations to separate accounts managed by Artemis Real Estate Partners and Raith Capital Partners.
Inside: Why private real estate firms increasingly need debt and equity strategies; An 18-page special report on ESG and C-PACE; AllianceBernstein’s CIO Peter Gordon on playing defense; Plus much more…
Inside: How C-PACE is driving ESG investment in the US; The impact of new city laws on C-PACE financing; Expert comment and analysis from Petros PACE Finance and Nuveen Green Capital; Plus much more…
C-PACE has become an attractive tool for sponsors and developers looking for capital, argues Petros co-founder and CEO Mansoor Ghori.
Commercial real estate owners are making increasing use of the public-private sustainable financing mechanism in a liquidity-constrained market, says Nuveen president and CEO Jessica Bailey.