SL Green Buys Loan on 522 Fifth and Looming Fannie, Freddie Rules Challenge CRE Industry

SL Green Buys Loan on 522 Fifth and Looming Fannie, Freddie Rules Challenge CRE Industry Dear reader, A reminder that as a Finance Weekly subscriber, you’ll soon get exclusive early access to receive the Capital Observer newsletter. We’ll take you behind the scenes of today's biggest investment firms to explore everything from core strategies to acquisitions and dispositions. So look out for Capital Observer this September, and in the meantime, please enjoy the finance features below. Best, CO’s Finance Team   This week, SL Green Realty purchased a $224 million senior loan on RFR Holding’s 23-story office property at 522 Fifth Avenue as part of a broader recap on the vacant property. We also explore new forms of capital pursuing data centers, and we examine how the commercial real estate industry prepares for tighter underwriting standards from Fannie Mae and Freddie Mac. SL Green Snaps Up $224M Loan on RFR’s 522 Fifth Avenue The purchase is part of a broader recapitalization, with SL Green and owner RFR jointly renovating the building. [Read More]( Top Deals Of The Week   - Lendlease Secures $316M Construction Loan for[L.A](. Mixed-Use Project - Hartz Mountain Secures $230M Refi for Roxy and Soho Grand[Hotels]( - Bank Provides $152M[Construction Loan]( for Journal Square High-Rise - HGI Leads $200M[Freddie Mac]( Q Series Deal - Ally Bank Provides $115M Bridge Loan on Four-State[Senior Living]( Portfolio - Affinius Capital Supplies $98M Refi on [Queens]( Apartments - JP Morgan Real Estate Income Trust Lends $62M on South Carolina Apartments Acquisition - AXA Provides $77M Refi for [Seattle-Area]( Community - Northwind Lends $63M on [Gramercy]( Condos Project - JP Morgan Real Estate Income Trust Lends $62M on [South Carolina]( Apartments Acquisition - Forman Capital Lends $55M for [South Florida]( Condo Conversion - BMO Lends $50M to Build [Affordable Housing]( in West Palm Beach - HIMCO Refis [Charlotte]( Area Industrial Asset With $35M Loan - MF1 Capital Provides $24M Takeout Construction Loan on [Brooklyn]( Guest Columnist   Modernizing Mandates Will Help City of Yes Ease NYC’s Affordability Crisis Comprehensive policies that recognize the unique challenges of building in a dense urban environment and don’t undermine development with one-size-fits-all mandates will help combat New York City's housing challenges, wrote Jolie Milstein, CEO and president of the New York State Association for Affordable Housing. [Read More]( People Moves   How Landmark’s Wes Rogers Became America’s Largest Student Housing Developer Landmark Properties’ Wes Rogers talks about how his company became the largest student housing developer in the country, and the challenges of investing in the space. [Read More](   Other Stories From This Week   A Higher Power: Who Bankrolls America’s Data Center Boom, and Why New forms of capital are pouring into the complex and increasingly essential asset class despite the environmental risks and energy challenges. [Read More]( Tighter Fannie, Freddie Underwriting Unnerves Commercial Real Estate As the government-sponsored enterprises plan tighter underwriting standards amid crackdowns on loan fraud, the commercial real estate industry is bracing for more hurdles for closing agency-backed financings. [Read More]( Cerberus Closes $200M Credit Facility for U.S. Data Center Acquisition Prime Data Centers sealed a $200 million credit facility to finance the acquisition of data center assets in top-tier U.S. markets, Commercial Observer first reported. [Read More]( April Housing’s Alice Carr and Perica Bell On Scaling Affordable Housing The heads of the Blackstone-backed company use resyndication and other tools to create and preserve affordable homes nationwide. [Read More]( What We're Reading This Week   - This once hot real-estate type is now being offered as [office space]( [WSJ] - Landlords face a $1.5 trillion commercial real estate [maturity wall]( [Bloomberg] - Job openings fell more than expected in July in another sign of labor market [softening]( [CNBC]   [View in Browser]( | [Advertise]( | [Forward to a Friend]( [Manage your email preferences or unsubscribe]( [Share your thoughts: Help us improve with our quick feedback survey!]( [Commercial Observer]( © Copyright 2024 [Observer Media]( 1 Whitehall Street, Floor 7, New York, NY 10004 This newsletter was published 09/05/2024