Shihao Feng
Sponsors Metro Loft Management and David Werner will convert the former Pfizer headquarters in midtown Manhattan.
There is a bifurcation in the performance of five- and 10-year conduit loans, according to data from Trepp.
Investors continue to be bullish on commercial mortgage-backed securities deals backed by single properties or portfolios of assets.
PERE Credit tracked 115 new commercial real estate loans totaling $14.96bn in May and June.
The uncertain interest rate outlook continues to keep transaction activity muted.
Cain International and OKO Group will pay off prior construction financing from MSD Partners for the Miami trophy office.
The transaction represents Värde's conviction around the demand dynamics of the Silicon Valley housing market.
The reputation of the sponsor is emerging as a key factor for lenders of all stripes.
The supply-demand fundamentals in the sector have also meant more attention from institutional investors.
Goldman acted as the sole book runner for the loan, which is backed by a luxury hotel property.