WASHINGTON, D.C. — Natixis has provided a $46.3 million loan to Normandy Real Estate Partners for the refinancing of 1015 18th St. N.W., a 109,650-square-foot office building in Washington, D.C,’s Central Business District. A joint venture between Normandy Real Estate Partners and NTT Urban Development Corp. acquired the property in 2015, and renovated the asset from Class B to Class A. Originally constructed in 1970, the building was updated to include a new glass curtainwall façade, new..
WASHINGTON, D.C. — The Mortgage Bankers Association (MBA) forecasts the volume of commercial and multifamily mortgages maturing in 2018 will decrease by 42 percent.
According to MBA’s 2017 Commercial Real Estate/Multifamily Survey of Loan Maturity Volumes, 6 percent, or $102.2 billion, of the $1.76 trillion in mortgages held by non-bank lenders and investors will mature in 2018, down from the $175.9 billion that matured in 2017.
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CHICAGO — Chicago-based Brennan Investment Group LLC, in a joint venture with Arch Street Capital Advisors LLC, has acquired a 2.3 million-square-foot industrial portfolio located throughout four states in a sale-leaseback transaction. The sales price was not disclosed. The four buildings were net-leased back to the seller, BlueLinx Corp., a building and industrial product distributor. The buildings are located in Boston, Raleigh-Durham, Atlanta and Washington, D.C. Since 2011, Brennan and..
WASHINGTON, D.C. — The Mortgage Bankers Association (MBA) projects commercial and multifamily mortgage originations will decline slightly in 2018, ending the year at $549 billion, down 3 percent from 2017. Looking further into its crystal ball, MBA forecasts origination volume to remain relatively flat in 2019.
"There is a strong mix of both headwinds and tailwinds in the commercial real estate finance markets right now," says Jamie Woodwell, vice president of commercial real estate..
WASHINGTON, D.C. — Commercial and multifamily mortgage originations for all of 2017 increased 15 percent on a year-over-year basis, bolstered by the strength of the multifamily, industrial and office sectors, according to the Mortgage Bankers Association (MBA).
The preliminary estimate was released Sunday during MBA’s Commercial Real Estate Finance/Multifamily Housing Convention & Expo 2018 in San Diego. The estimate is based on the MBA’s Quarterly Survey of Commercial/Multifamily..
WASHINGTON, D.C. — The Meridian Group has signed a 103,300-square-foot office lease with Baker Botts LLP, an international law firm, in Washington D.C.’s East End. The firm’s new office will be located at Anthem Row, a four-building office complex currently under development. The Meridian Group is underway on an extensive renovation of the 12-story building at 800 K St. The original building had a large floor plate with two cores and one main lobby. Upon completion, the property will..
WASHINGTON, D.C. — A partnership between Urban Investment Partners (UIP) and Atalaya Capital Management has acquired Onyx on First, a 266-unit apartment community located in Washington, D.C.’s Capitol Riverfront neighborhood for $95.5 million. The seller was J.P. Morgan, according to the Washington Business Journal.
Constructed in 2008, Onyx on First was originally developed by Faison Development as condominiums, but was converted to rental apartments upon delivery. The property is..
WASHINGTON, D.C. — ASB Real Estate Investments has sold 900 G Street N.W., a 112,635-square-foot office building in Washington, D.C.’s East End submarket, for $144 million. The firm completed the transaction on behalf of the Allegiance Fund, its $7.4 billion core investment vehicle. Eastdil Secured LLC arranged the transaction on behalf of ASB, and DLA Piper LLC served as ASB’s counsel. An affiliate of Masaveu Real Estate US, advised by EXAN Capital, acquired the building. Masaveu is a..
WASHINGTON, D.C. — Fannie Mae generated more than $67 billion in multifamily financing in 2017, the highest volume ever recorded for its Delegated Underwriting and Servicing (DUS) program, which is in its 30th year of operation. The agency financed more than 750,000 multifamily units last year, breaking records in several segments including green financing, seniors housing, structured transactions and affordable housing.
Fannie Mae’s biggest gains came in its seniors housing and green..
WASHINGTON, D.C. — Stroock has arranged the sale of 1255 23rd St. N.W., a 341,0000-square-foot office building in Washington, D.C. An affiliate of DivcoWest acquired the property for $166.2 million, according to the Washington Business Journal. Jeff Keitelman, Steven Moskowitz, Joseph Miller, Kelly Booker and Logan Wyman of Stroock arranged the transaction on behalf of the seller, D.C.-based Carr Properties. The office building is located in the city’s West End district and is home to..