REC staff
Real Estate Capital USA opens for nominations for our third annual US commercial real estate debt industry awards; PGIM Real Estate and Northwestern Mutual join forces on a $869 million refinancing for a 25-asset Class A industrial portfolio; the White House looks to encourage more asset conversion pace to boost residential supply with a guidebook launch; and more in today’s Term Sheet, exclusively for our valued subscribers.
Goldman Sachs reduces the value of its balance sheet real estate portfolio by one-third to reduce sector exposure risk; Citibank and Deutsche Bank originate a $410 million refinancing package for a pair of Four Seasons resorts in Florida. Plus: Bain Capital’s special situations unit and Smith Hill to start targeting debt and preferred equity opportunities via a joint venture; and more in today’s Term Sheet, exclusively for our valued subscribers.
PGIM Real Estate keeps rolling in California with a $143.5 million bridge loan package; KBRA report finds old and dated office assets face more potential distress across top US cities; Colliers adds veteran pair to supercharge Western US expansion; and more in today’s Term Sheet, exclusively for our valued subscribers.
Market analysts anticipate pause to slight bump on rate hikes at next week’s Federal Reserve meeting; Apollo subsidiary Athene originates $480 million studio redevelopment financing as insurers gain more lending ground in bank absence; more equity and preferred equity comes into play as ‘blend and extend’ financing methods pick up in usage; and more in today’s Term Sheet, exclusively for our valued subscribers.
The Federal Reserve is expected to follow a higher-for-longer interest rate strategy; Apollo Global finances QIA's acquisition of the Park Lane hotel in New York; the jury is still out on the impact of the SEC's new rules for private fund advisers on the commercial real estate space; and more in today’s Term Sheet, exclusively for our valued subscribers.
Fortress Investment Group carves against the grain with the acquisition of a $900 million Capital One office loan portfolio, despite the sector's headwinds; Unibail-Rodamco-Westfield demonstrates it sees a future for a Los Angeles mall with a $925 million Morgan Stanley CMBS refinancing; Berkadia analysis shows bank failures have not halted lending despite heightened credit standards; and more in today’s Term Sheet, exclusively for our valued subscribers.
US regulators look to boost bank capital requirements in Basel III proposal; Ares’ senior leaders talk real estate debt opportunities during quarterly earnings; Banco Inbursa originates $220 million financing to fuel Silverstein, MetroLoft New York office tower conversion plans; and more in today’s Term Sheet, exclusively for our valued subscribers.
The US Federal Reserve plans to create more stringent bank regulations; KKR’s Ralph Rosenberg dives into the manager’s focus on distressed assets in still-favorable sectors; San Francisco’s real estate market has cause for optimism heading into future quarters; and more in today’s Term Sheet, exclusively for our valued subscribers.
Defensive investing in the current low interest rate environment was among the central themes at the annual real estate conference of our sister publication PERE in New York.
Real estate debt looks well positioned compared with corporate debt, maintains Justin Guichard of Oaktree Capital in this interview shot at sister publication PDI's New York Forum.