Northwestern Mutual funded the loan.
Commercial real estate lenders bid LIBOR goodbye as SOFR takes center stage; Tishman Speyer goes north to obtain $900 million of finance for multi-purpose property plans; Construction lending sees major momentum in June with selective banks driving more activity; Avison Young taps company veteran for US president succession; and more in today’s Term Sheet, exclusively for our valued subscribers.
Greystone-arranged financing will help build submarket’s tallest multifamily asset.
Commercial real estate sponsors and lenders are looking at the language around transitioning derivatives contracts tied to the benchmark.
Commercial real estate debt funds in North America raise $2.97bn in Q1 2023, showing resilience amid shifting market conditions.
Amid mounting economic uncertainties, KBRA Credit Profile's latest data reveals a notable uptick in the KBRA Loan of Concern (K-LOC) Index for commercial mortgage-backed securities deals.
The strategy is growing in the US, but it lacks a real catalyst to drive change.
The deal is the largest year-to-date construction loan originated in the US.
The original justification for Canadian pension plans having standalone property platforms no longer holds up today.
Washington, DC, shopping mall will be redeveloped into mixed-use asset with 320 apartment units.