Lending picked back up this week with a major refinancing of a top hospitality property in New York: $155 million for the Lexington Hotel in Midtown Manhattan — financed by Hudson Bay Capital. There was also Franklin BSP Realty Trust lending $125 million for a four-building, single-tenant industrial portfolio across three states. Not to be
The volume of commercial property transactions in Brooklyn held steady last quarter, but sellers these days are getting significantly less for their properties than they were at the end of last year. Overall, investment sales saw a total dollar volume of $936 million across 258 deals in the borough in the first quarter, down 34
Dallas-based capital markets firm Greysteel has a new investment sales senior director in Nigel Crayton, who will help oversee the company’s Washington, D.C., office. Crayton, 30, has been at Greysteel since 2020, starting as a senior investment associate and working his way up through the firm, with a focus on mid-Atlantic multifamily sales. SEE ALSO:
A $130.1 million commercial mortgage-backed securities (CMBS) hotel loan backed by the 1,004-room Los Angeles Airport Marriott is on its servicer’s watchlist after a drop in debt service coverage ratio, according to an alert from Trepp. The rate decreased mainly because of higher operating and capital costs, as well as increases in departmental room expenses
CINCINNATI (WXIX) -A realtor is offering advice to Ohio residents on how to handle the increased property tax payments they are experiencing. Dannel Shepard, a realtor with the LAZO Group at Re/Max, stresses the significance of having an escrow account to avoid losing one’s home. “If you have a settlement statement, if you recently bought
Financial distress in Downtown Los Angeles has extended beyond the office market. Realm and Bascom Group defaulted on a $32.9 million loan tied to a planned 36-story apartment tower development in the beleaguered district, according to reporting by The Real Deal, which cited county records. Terracotta Group provided the loan in 2021, which refinanced an