Capital Markets & Debt

The owner bought the landmarked office building in December 2021. Its new loan paperwork is now 1.7 times that price.

Corebridge took over Deutsche Pfandbriefbank's debt on 40 Tenth Avenue and added $3.2M, consolidating it into one $293.2M lien recorded Sept. 17.

The two mortgages total $37.2M, about 10 times the price paid seven weeks earlier. The only building filing on the lot is a four-unit conversion.

Tarrant's Nov. 3 constable list has 24 properties for sale and 5 withdrawn. On Oct. 6, 31 of 34 listed were canceled and 3 sold.

A $357M loan agreement on two Battery Park City rental towers was re-recorded Sept. 25, the same amount filed in 2011, alongside two $10 deeds.

A buyer paid $2.2M for 912 Herkimer Street in Brooklyn and signed $7.3M in loans. One assignment of rents is recorded at $1.749B, 1,000 times its mortgage.

Deutsche Bank's trustee sued to foreclose on Pembroke Lakes Mall, owed $263.8M. An April 2026 appraisal put it at $112M, down from $427M in 2013.

TYKO Capital lent Terra $507M for 1250 West Avenue, a 28-story, 106-home Miami Beach bayfront condo: about $4.8M of debt per home, before sales open.

Five East Harlem apartment buildings, 150 units, go to referee auction Nov. 10 on $30,622,095 in judgments. All five loans trace to one 2019 lender chain.

The new loan is 4.4% below the $400M HSBC mortgage of 2019, and HSBC's debt was assigned to Wells Fargo before consolidation.

The loan is about 4.1 times the February purchase price, and the 99-unit tower it appears to fund has an approved new-building filing.

SME Capital financed a $58M construction loan for The Lincoln, a 48-residence boutique condo at 2650 Lincoln Ave in Coconut Grove, more than 40% sold.

It is a purchase loan, not a refinance: the debt covers two thirds of the price. The buyer sits behind a law firm address.

A $67,835,000 mortgage naming Build NYC as lender was recorded with the $54.5M deed for 801 Bartholdi Street in the Bronx, a charter school bond financing.

The new loan is 1.9 times the $24M deed price and about $530 per square foot of the existing 84,920 sq ft building.

4354 Park Avenue in Morrisania sold for $1.05M in December on an $840,000 loan. A $1.12M judgment auction is set for Oct. 19.

Twelve Broward properties sold at foreclosure auction Oct. 1 and 2. Seven went to outside buyers, five back to lenders. Top bid: $601,100 on NW 105 Terrace.

ACRIS shows the 2007 loan was assigned to a trustee in 2013, and the court entered judgment in 2021, five years before the sale date.

The deed puts a price on a two-story M1-1 warehouse near JFK that the seller had refinanced with a $48.1M bridge loan.

A state public-benefit corporation sits on the other side of all three, a day-of filing pattern that looks like refinancing on ground-leased land.

City Register records show the loan, a Freddie Mac assignment and a City agreement all recorded the same day.

Madison Realty Capital's $127M loan on The Arcadian in Fort Lauderdale's Sistrunk area is $42.5M above the 2024 construction loan it refinances.

JSB Capital refinanced the 631-unit Landmark South in Doral with a $238M Torchlight bridge loan arranged by Walker & Dunlop.

The judgment is $34.0M above the $55M consolidated loan the trust bought in 2016, and 12 days remain.

A $1.11B package led by JPMorgan's $860M construction loan and about $250M of C-PACE backs Mercedes-Benz Places Miami. Term sheets are signed, not closed.

Slate Property Group and Carlyle sued to foreclose on Metro Parc South, a 10-story, 347-unit Hialeah project, alleging a $31.1M default on a $105M loan.

Lender credit bids outnumbered third-party buyers across Broward, Miami-Dade and Palm Beach last week.

The seller-side entity paid $12.75M for three lots in 2013, refinanced with an $85M Valley National loan in 2023, and sold 13 years later.

Wilmington Trust and special servicer KeyBank move against 3044 Wallace Realty LLC as a loan packaged into a 2019 commercial mortgage securitization goes bad.

The proposed loan would rank among the largest construction financings in U.S. history, a bet on luxury Manhattan condo demand at the top of the market.

The downtown Dallas landmark, bought after Woods' Alliance of American Football venture folded, is now a test of whether the city's office glut has bottomed.

City records show the loan was a 2019 refinancing consolidated across the A&E building and a second Nehmadi-controlled site on East 25th Street.

City records show the ground-floor retail condominium has stayed with the same landlord since the building converted, financed through Apple Bank since a 2017 refinancing.

ACRIS shows the debt being replaced: a $150 million agreement with the same lender recorded in 2016, before Havas Health's newest lease expansion existed.

The loan pays off a 2022 mortgage of the same size on a portfolio that now controls 58% of existing Manhattan storage space, double its nearest competitor.

Brookfield's GGP is refinancing the 2.4M SF Oakbrook Center mall with an $800M CMBS loan, retiring a $700M loan and pulling out $65M in equity.

Thor Equities and Premier Equities recorded a $40M debt package with Webster Bank on their SoHo retail condo at 470 Broome Street, 89% of their 2015 buy price.

The refinancing shows lenders still writing nine-figure checks against stabilized Miami student housing while they stay cautious elsewhere.

BridgeInvest's $114.3 million loan refinances Robert Rivani's renovated South Beach office at 1691 Michigan Avenue, where Playboy is moving its HQ.

Edgewood Capital wrote a $27.9M refinance on Latitude Group's 22-unit Terraces condo tower in Fort Lauderdale Beach, replacing a $24.5M construction loan.

Assouline-Busch Capital lined up $75.1M for its Faena District rebuild from four different lenders, none of them a single hotel construction loan.

Rather than sell buildings to fund exits, Blackstone is connecting sellers with buyers at whatever price clears, a mark every LP will now cite.

The building already has its certificate of occupancy. What moved was not a construction loan into a bank, but a bank's construction paper out to a private credit fund.

Galium Capital paid $28.7M for the 156-unit Arbors Aventura in North Miami Beach, 18 percent below the $35.2M the sellers paid in 2022, county records show.

A sponsor with Brookfield's scale just handed a receiver its second Denver trophy tower in three years. That is a basis signal, not a local story.

The loan left the CW Capital serviced trust in April 2025 and was pledged to Axos Bank in June, five months before the gavel.

Thirty DOB filings across both lots, and not one of them is the seven-story building.

The zoning on this lot allows a residential floor area ratio of 15.0, the same as the West 35th Street loft heading to 166 apartments. The sponsor chose storage, and an institutional lender funded it.

The county's own Infill Housing Program deeded these lots for affordable homes in 2016. A judge's order shows why 30 are still empty.

A grocery-adjacent 1979 center financed with a two-year floating bridge loan from a debt fund is a specific bet: reposition and refinance, not hold.

A dated recap of every creditor lawsuit filed against Alirio Torrealba's Coral Gables firm since mid-August, with the running total claimed.

Carr Properties is selling and refinancing other DC office assets, but lenders just backed its Foggy Bottom conversion with a five-year, $92 million construction loan.

The facility grew almost 30 percent in nine months, and the growth rate is a proxy for how much capital is now chasing sites that already have power.

No 10-D, no ABS-EE, no servicer report. Two agreements recorded since 2022 are the only public trace of what has happened to this loan.

The headline number in the wire is $27M. The lot actually took two loans on August 26, and the second one is the tell.

Twenty-two instruments in one recording batch. That is what a low-income housing tax credit resyndication looks like from the outside.

A trustee tried twice to sell 57 units to a commercial developer. What that tells you about buying distressed nonprofit stock in New York.

The new loan is bigger than the all-cash price paid three months ago, a read on what it now costs to carry a near-finished downtown Miami building to the leasing line.

First closing raised $225 million at a 2.5% discount; the rest waits on the Beazer merger closing at a locked-in 12% cumulative rate.

The facility is backed by insurance capital, not just banks, and it finances assets before they carry a signed lease, a structure other data center developers will want to copy.

The same debt fund has now committed $427M to two New York office-to-residential conversions inside four days, both of them partial.

Two buildings across from the Empire State Building are filed to come down, and no New York City property record carries the filing entity's name.

The Beach Point entity that took the deed from Chetrit in April 2025 sold the building a month later, and a $71,010,778 mortgage back to Beach Point recorded the same day.

Twelve months separate a $37M Queens land trade and the construction debt that took out the acquisition loan, all of it on the public record.

Two documents recorded the same minute make the arithmetic exact: $285.8M of old debt, $9.2M of new.

The loan is filed under a name Silverback created in 2020, but the mailing address inside that same LLC now belongs to Stellar Management.

The document recorded alongside the $110M agreement is an assignment of mortgage. That single word changes what the deal signals.

Ten years of Brooklyn loft appreciation, undone. The debt chain on the lot explains more than the price does.

AmDev's wire found $90M in South Florida commercial foreclosure auctions through Sept 28, including a rare case targeting an LLC stake, not the property.

The second and final budget hearing is set for September 24, the same week a $450 million general obligation bond and a state homestead-exemption amendment head to the November 3 ballot.

Extell closed up to $1.3B in construction financing for The Torch, its 52-story Times Square hotel supertall, a live read on large-loan availability.

Fort Lauderdale-based BH3 and Capstone Equities landed a $208M Northwind Group loan to convert a vacant Brooklyn office tower into 239 apartments.

HPP and Blackstone got a 15-month extension on a $1.1B CMBS loan tied to a 2.2M SF Hollywood, California studio and office portfolio, with no paydown required.

BH Group and Kolter Urban, both South Florida sponsors, secured $197M in construction financing for a 12-unit ultra-luxury condo on Naples beachfront.

AmDev's distress wire found 15 South Florida commercial foreclosure auctions worth $89M in the next two weeks, led by a $66M downtown Miami case.

Crux AI, the Google and Blackstone-backed TPU venture, hired Meta's data center construction chief as it targets 500MW by 2027.

Lore Development Group and Element Development secured a $58M construction loan for The Lincoln, their 48-unit Coconut Grove condo, trade reports say.

Berkadia arranged a $38.55M Freddie Mac refi for Tennis Towers in West Palm Beach, a seven-year fixed loan with four years interest-only.

Pebb Capital refinanced its Sundy Village mixed-use project in Delray Beach with a $223M loan, trade reports say, replacing a 2023 construction loan.

A foreclosure judgment of $11.6M sends a 1928 Biscayne Bay estate in Miami's gated Morningside enclave to auction Sept. 8, court and county records show.

Tishman Speyer sold its fully leased 138,000-SF Mountain View office to Spear Street Capital for $121.5M ($876/SF), a 24-year hold since it built the tower.

AgeWell and Berkshire Residential sold Lake Mary and Clearwater senior communities in an all-cash deal that reads as institutional capital re-pricing risk in a stalled asset class.

Related landed new debt on 30 Hudson Yards from Bank of America. The rate is undisclosed, but the deal itself says large office loans are still clearing.

The loan funds a for-sale townhome and outparcel retail project at SW 144th Avenue and Coral Way, a bet that West Kendall's for-sale product still pencils.

Nearly 50,000 people looked. Nobody bid. The county just gave the market three more weeks at the same number.

The docket, not the headline, shows what is actually holding up the closing on the entitled Blue Lagoon site.

The lenders underwrote leasing momentum and sponsor strength over a clean occupancy stack, on a complex where nearly half the rent roll turns over during the loan term.

Crow Holdings Realty Partners XI has an SEC-filed $3.25B target, already the largest offering in the Dallas firm's numbered value-add series.

The data center loan sits inside CRED iQ's industrial bucket, and its maturity default is a repricing signal for anyone underwriting hyperscale demand as a sure thing.

The Real Deal reports Ken Griffin is buying Moishe Mana's 30-acre Wynwood complex for $700M-$1B+, a deal both sides denied in January.

Trepp: $10.7B of performing office loans with DSCRs below 1.00x reach hard, no-extension maturity by the end of 2029.

Berkshire's Q2 13F shows a 29.8% jump in its Lennar Class A stake, to 13.1M shares worth $1.19B, pushing the combined position to about $1.2 billion.

The 131-bed portfolio traded for $12.7 million less than four years ago. Now a lender is taking it back.

VFI Capital, tied to the Galleria Farms family, says Alirio Torrealba personally guaranteed loans on MG NBV in North Bay Village and a Coral Gables townhome project.

The ground-up construction loan is a bet that Florida's aging population and tightening senior-housing occupancy will keep filling beds long after the building opens.

Nuveen Green Capital's CPACE Lending Fund IV posted a $1B+ first close, its largest vintage yet, pushing the Fund Series to $3B in commitments since 2023.

A buyer with no retail track record wrote a nine-figure-adjacent check for a Doral shopping center, a signal that grocery anchors are pulling capital from outside the sector even as SoFla office and condo distress dominates headlines.

Builders and the banks financing them are telling two different stories about credit conditions for the first time since NAHB started comparing the surveys in 2013.

A repositioned suburban Doral office campus just got bank debt at roughly $184 per square foot, a live basis check for owners betting on the same play.

A 106-key Broward Hampton Inn sold for $9.75M, about $1.7M under its 2015 price, a fresh below-basis comp for pricing distressed SoFla hotel assets.

Starwood Property Trust refinanced NRI's roughly 200-unit apartment building at Thesis Miami in Coral Gables with a $135M loan, about $650K per unit.

Justice Andrew Borrok's temporary order buys Penn-Florida time on the Mandarin Oriental Boca Raton condo tower, but the underlying mortgage foreclosure keeps running in Palm Beach County.

MFD International and Yosse LLC say MG defaulted on a $2.2M preferred-equity stake and loans tied to a Coral Gables project and a Miami airport hotel.

Richman Group refinanced three stabilized Florida apartment towers, including Miami-Dade's Vista Sur, for $225M at rates from 5.74% to 6.15%.

The winning bid, and a $23.9 million backup offer, reset the market for entitled land in the airport corridor.

Goldman Sachs is buying sale-leaseback firm LCN Capital Partners for up to $410M, a bigger counterparty for owners facing 2026-27 debt maturities.

Office construction debt is scarce nationally, and this sponsor group still got a $125 million loan closed on a speculative building.

A New York judge has already blocked the lender's UCC auction once, with a hearing set for October 1.

A KBRA presale report puts a hard leverage number on a large SFR portfolio clearing the securitization market, useful math for anyone with 2026 debt coming due.

The firm bought the Old Post Office ground lease for $375 million in 2022 with $285 million in floating-rate debt, then lost it two years later.

Varia US Properties, managed by SWI Group's Stoneweg, moves 13 of 17 US multifamily assets into a $694M JV with Brookfield.

A trophy oceanfront asset found fresh capital less than a year after its loan went to special servicing, a readable comp for other sovereign-owned SoFla hotels.

The non-traded REIT's second-quarter filing is a clean read on where institutional capital is rotating out of and into.

1789 Capital closed its debut real estate fund at $1.2B, targeting Sun Belt development in Florida, Texas, Tennessee, Georgia and the Carolinas.

A fully-leased, credit-tenant office tower is headed toward default anyway, and that tells sponsors where the real risk sits.

A public REIT just set the price for large-scale luxury resort real estate, and disclosed exactly how it plans to pay for it.

PNC Bank's construction loan funds the first of roughly 1,000 planned units on a Bird Road site Coastland assembled for $14.5 million.

Six MOUs, no signed checks yet, and a developer's cost of capital just moved anyway.

Fermi signed TensorWave to a 15-year, $6.5B lease at Project Matador in Carson County, Texas, its first anchor tenant on the power campus.

Anthropic, Macquarie Asset Management and GIC launched Theseus Infrastructure to fund, build and lease hyperscale data centers to Anthropic.

Vornado, Citadel and Rudin lined up a $3.3B construction loan for 350 Park Avenue, showing office capital is open only for fully pre-leased trophy towers.

Newmark CEO Barry Gosin, in the role since 1979, steps down Dec. 31. The board expects a successor by year end; Gosin stays as operating-company chairman.

Tishman Speyer is asking $450M, or $584/sf, for 6 Grand Central. Its last office trade, CitySpire, closed six months ago at $364/sf.

Duke Energy will issue $10 billion in equity through 2030 to fund the gas and battery buildout its 7.8GW of signed data-center contracts already require.

Brookfield raised a record $77B in Q2 2026 and topped $1 trillion in AUM. Its real estate arm deployed $5.2B, more than the $4.3B it raised.

Clara Homes secured a $101.5 million refinancing from Hudson Bay Capital on the first two phases of its Clara Bay Harbour project in Bay Harbor Islands.

The bank is adding lending capacity, not subsidy, to the affordable stack. Developers and builders should read the fine print before they price it in.

A South Florida company is putting its capital into rural Arkansas power capacity instead of home-market land, and that says something about where site selection is headed.

Interface Properties paid $40M, about $211 a foot, for the 95%-leased Fountains Center campus in west Boca Raton.

The floating-rate, interest-only structure shows what agency lenders will still write against student housing at scale, and at what price.

The off-market, sub-5% cap rate trade shows how tight rental townhome supply has gotten in Broward's Emerald Hills.

Coupons of 5.00% to 5.80% on the new notes show what the largest data-center landlord is paying to fund the AI-driven buildout.

Madison Realty Capital and Yellowstone Real Estate took out Post Road's construction debt at partial lease-up, a signal on what lenders will fund today.

The joint venture's own release confirms the price, footprint and lender group. Our math on that release puts the basis at about $169 a square foot.

Four banks required about 50% preleasing to fund a 46-story Manhattan tower. The spread, the step-down triggers, and the loan-to-cost ratio are the clearest public benchmark yet for what new office construction debt costs in 2026.

Redondo Beach-based InSite paid $32.72 million, $265 a square foot, for a stabilized Allapattah self-storage building sold by a Howard Pryor entity.

The county's own parcel record still codes the 1.49-acre site as vacant land, even with a tower standing on it.

A life-company insurer underwrote a density-bonus workforce tower at scale, giving Broward developers a lender comp to point to.

The loan did not clear on the sponsor's name. It cleared on a presale book that was functionally sold out before a shovel moved.

A single balance sheet will write nine figures against a stabilized rent roll again. It still will not do it against a construction budget.

The dominant development story of the cycle is a spending curve, and even a booming cloud business could not keep the market from flinching.

One platform, 51 campuses, 6.4 gigawatts, and a fresh $5 billion to build more.

A financing model that skips the 4% credit is the news, not the 102 units.

The most photographed failed project in America finally has a buyer. Graffiti removal starts within 30 days.

A luxury REIT is liquidating into a soft transaction market and still clearing $1.34M a key. That number is the comp.

Three years after the collapse, the recovery is being counted. It is a useful lesson in what a deposit is actually worth.

Five years after paying $94M for the dirt, Witkoff has construction money for phase one. The other two towers do not.

Storage is the alternative asset still getting debt in South Florida, and the thesis is written in supply, not demand.

The lender authorized itself to $25.85M and never needed a dollar of it. What it takes back is 1.23 acres of RM-30 oceanfront it has no reason to operate.

Private capital is still racing into data centers. The public market just flinched. Watch which one is early.

A record single-bank apartment conduit tells developers the private-label debt window is reopening, and where it favors.

The financing shows how a $2 land buy plus a public lender pencils affordable units in one of Brooklyn's costliest submarkets.

A German bank and a value-add equity partner are still funding new high-rise rental in Dallas' densest submarket.

The read for developers: the 1980s-scale supply wave is being absorbed, and the timing window on distressed deals is starting to close.

The new law caps what big landlords can buy. It says nothing about what they can borrow against.

The biggest office workout of the cycle got done by extending, not foreclosing. That is the template now.

A trophy oceanfront resort just cleared a nine-figure cash-out, lenders are underwriting Palm Beach room revenue again.

Trophy-hotel debt is thawing for well-capitalized sponsors, and a lender is willing to underwrite Brickell room rates again.

Infill industrial in Miami-Dade still commands a premium, and buyers are willing to wait years to get it.

The maturity wall is real, but for stabilized 2019-2023 product, the refinancing window is reopening.

Mid-Wilshire office is repricing to land value, and the lender is now the one deciding what happens next.

One contrarian keeps buying the block nobody wanted. The vacancy numbers are starting to move his way.

The moves are small in basis points but clear in direction: pricing is drifting up, and the window to lock capital may be closing.

A vote of confidence in downtown rentals just as new supply dries up and the maturity wall forces owners to recut 2019 debt.

A clean read on the office bifurcation: new, fully leased, blue-chip-tenanted space trades near replacement cost while commodity space languishes.

Office-to-resi gets the headlines, but the sharper conversion math is often in oddball assets.

A marquee vote of confidence in Manhattan's West Side office, at a moment when most capital still avoids the sector.

SF's distressed-office repricing is where the next cycle's basis gets set, and buyers are assembling at pennies on the prior dollar.

Geopolitics keeps adding upside risk to yields, a reminder to stop penciling 2026 rate cuts into the pro forma.

One of the year's larger Edgewater multifamily financings sends a 36-story tower toward a 2028 delivery.

A $25M funding gap and tariff-driven cost pressure stalled the 357-unit project, testing mass timber's economics.

A housing-policy week from Washington to the states, a first sign of data-center cooling, and a capital market that would not sit still. The week that was in US development.

A master-planned Palm Beach County community adds a hospital campus as healthcare real estate keeps drawing construction capital.

A Houston office park changes hands out of bankruptcy, a reminder that distress is still clearing the market's weakest assets.

New York's Dependable Equities lines up early financing for a 2-million-square-foot bet between the New and Tarpon rivers.

A 789-foot rental tower in the Financial District draws a nine-figure debt package as it climbs past the halfway mark.

The owner of the storied Fairfax studio lot faces a forced sale as its $357M debt sours alongside other Hackman studio bets.

The 176-unit Civic Lofts changed hands for $30 million, less than half the $63 million paid at the 2021 peak, as rising vacancy resets values in Denver's core.

The 5.8-acre uptown site, entitled for more than 550 apartments, changed hands twice in two months after Peachtree Group's foreclosure filing.

A nine-figure-adjacent construction loan for a New Jersey rental signals private lenders still funding well-located multifamily starts.

The former HUD housing chief returns to the private sector to advise clients navigating agency financing and shifting policy.