Blackstone Mortgage hit with Moody’s downgrade over weakening office portfolio
REIT’s impaired loans nearly doubled over past year to $2.35 billion
Moody's Ratings has downgraded Blackstone Mortgage Trust's corporate credit rating on what it sees as a deterioration in the real estate investment trust’s office loan portfolio.
Pearlmark raises $300 million for commercial property investments
Firm’s latest mezzanine fund to primarily target apartments
Pearlmark Real Estate held the second closing of its sixth credit investment fund, Pearlmark Mezzanine Realty Partners VI, pulling in $300 million.
Dwight Mortgage Trust raises $384 million through Freddie Mac bond sale
Securitization is Q-Deal program’s largest in two years
Dwight Mortgage Trust has completed the largest multifamily mortgage loan securitization through Freddie Mac’s Q-Deal program since October 2022.
Election outcome improves CMBS outlook; TPG to refinance life science campus; Distress for Houston office park
A weekly look at the commercial mortgage-backed securities business
This week’s column examines Bank of America Securities’ improved CMBS outlook in the wake of national elections, another CMBS refinancing for landlord TPG and a Houston office park...
Potential changes to federal workforce risk riling office markets, especially Washington, DC
Landlords face concerns of higher vacancies if government leases aren't renewed, investment bank says
Recent lease deals show the federal government is working to reduce the amount of office space it uses across the country. Now, President-elect Donald Trump's promises to cut the s...
Commercial property borrowing jumps in third quarter
Years of high interest rates expected to buoy demand for loans, bankers say
Commercial real estate lending surged in the third quarter as buyers and owners jumped on a brief period of lower long-term interest rates.
PNC doubles planned bank openings in show of support for physical locations
Half-billion-dollar commitment comes as financial institutions integrate digital and real estate strategies
PNC Bank plans to more than double its bank branch openings over the next five years in recognition of the demand for physical stores despite growing favor for larger online operat...
Manulife US REIT eyes more office building sales after Sacramento deal
Singapore-based investor looks to trim debt in improving market
Fresh off the sale of a Sacramento, California, office property, Singapore-based Manulife US Real Estate Investment Trust sees momentum for additional property deals to further red...
Investors seek liquidation of Hertz Properties office buildings; REIT issues warning; TPG taps CMBS market
A weekly look at the commercial mortgage-backed securities business
This week’s column examines an insolvency petition against Hertz Properties Group, a financial warning from an office real estate investment trust and new financing for a 43-proper...
Blackstone to take grocery-anchored REIT private for $4 billion
San Diego-based Retail Opportunity Investments’ 93 properties are located on the West Coast
Blackstone has cut a deal to take publicly traded Retail Opportunity Investments Corp. private in a $4 billion transaction as grocery-anchored properties are attracting investor in...
Canadian investment firm looks to sell its remaining US hotels
Skyline's change in strategy comes after period of declining revenue
Toronto-based Skyline Investments is abandoning its strategy of owning and operating hotels, all of which are in the United States.
Cohen & Steers picks up pace of acquiring open-air shopping centers
Bottom-of-the-market pricing attracts New York investment manager
Cohen & Steers is stepping up acquisitions of open-air shopping centers for its private real estate clients as the investment management firm believes pricing has bottomed in the r...
Fortress Net Lease builds portfolio with $207 million acquisition
Nontraded REIT’s industrial holdings surpass $700 million
Fortress Net Lease REIT has completed its largest acquisition since launching as a nontraded real estate investment trust last year.
Exits of Oakland sports teams fuel hotel value loss; Macerich refinances mall debt; West Shore completes $533 million apartment refinancing
A weekly look at the commercial mortgage-backed securities business
This week’s column examines a sunken Oakland, California, hotel value; a low interest rate for mall debt in Queens, New York; and a $533 million Sun Belt apartment portfolio refina...
JLL Income REIT jettisons properties as it sees new opportunities emerging
Chicago-based firm sells three assets in October
JLL Income Property Trust, the nontraded real estate investment trust of Lasalle Investment Management, a subsidiary of real estate firm JLL, has sold its third asset in a month as...
Hertz Investment gives up control of Pittsburgh office complex
Court appoints CBRE to oversee 1.5 million-square-foot Gateway Center
Los Angeles-based national office building owner Hertz Investment Group has lost control of an office campus spanning 1.5 million square feet in Pittsburgh.
Third-quarter property prices signal improving market
Industrial and office sectors outperform, while multifamily leads declines, analysis finds
U.S. commercial real estate price declines outnumbered gains by region and property type for a second straight quarter, but signs of improvement are emerging.
Banks’ strategy of extending commercial loans found to escalate financial risk
'Extend-and-pretend' approach creates wave of debt that likely won’t be paid, New York Fed says
The unwillingness of some U.S. banks to fully assess their loan exposure to commercial real estate is increasing the risk of financial fragility in the economy, according to the Ne...
How some property pros see the election’s effect on taxes, investing
Tight political races are not likely to result in dramatic policy changes, commercial property trade group says
With the U.S. election less than two weeks away, the commercial real estate industry is focused on how the outcome of the races could affect finance and investing activity.
Loan distress varies in biggest US markets; New York landlord seeks loan restructuring; Brookfield-backed firm sells $241 million in bonds
A weekly look at the commercial mortgage-backed securities business
This week’s column examines varying levels of loan distress across big U.S. markets, a New York landlord seeking to restructure an office loan and a Brookfield-backed firm selling ...