Bushburg Snaps Up Rudin’s 80 Pine Street, Freddie Mac Names New CEO

Bushburg Snaps Up Rudin’s 80 Pine Street, Freddie Mac Names New CEO   Dear reader, In the next few weeks, you’ll get exclusive early access to our inaugural Investment Weekly newsletter, a hub for CRE investment news and a vital supplement to your Finance Weekly subscription. Burning questions like, “Where are investors finding key opportunistic plays?” “What kind of discounts are materializing as the market dislocation plays out?” and “How is the investment landscape evolving and changing over time?” are all on the agenda. So look out for Investment Weekly in the coming days, and in the meantime, please enjoy the finance features below. Best, CO’s Finance Team This week, Brooklyn developer Bushburg completed its $160 million acquisition of Rudin’s 80 Pine Street property with $100 million of financing from 99c; we report on Jorge M. Pérez’s Related Group and Integra Investments landing $527 million of construction financing from Tyko Capital to build a St. Regis-branded condo tower in Miami; and Freddie Mac has a new CEO as it tightens underwriting requirements for agency loans. Bushburg Closes on $160M Acquisition of Rudin’s 80 Pine Street With The Brooklyn developer closed on its $160 million acquisition of Rudin’s Lower Manhattan tower and locked in $100 million of financing from Carlo Bellini’s 99c for the purchase, Commercial Observer first reported. [Read More]( Top Deals Of The Week   - Related Group and Integra Score $527M to Build [Miami’s]( St. Regis Condo Complex - MF1, Affinius Provide $155M Refi on [Orlando]( Apartments - OZK, Affinius Capital Provide $135M Construction Loan for [Logistics Center]( - Edwards Companies [Lands]( $119M to Complete Mixed-Use Development in Downtown Delray Beach - HGI Leads $200M[Freddie Mac]( Q Series Deal - Smith Hill Capital, Bain Capital Lend $57M on [Nashville]( Hotel - Emerald Creek Lends $30M on [Midwood]( Multifamily Building - Peachtree Refis Downtown [Columbus]( Hampton Inn With $26M Loan People Moves   Catal Group Hires Avison Young’s Trisha Connolly-Horowitz to Run New Debt Fund Catal Group, a family office launched in 2015, hired commercial real estate capital markets veteran Trisha Connolly-Horowitz to run the firm’s first debt fund, Commercial Observer first reported. [Read More]( Freddie Mac Names Diana Reid CEO The CRE veteran, formerly an executive vice president at PNC, was chosen to lead the government-sponsored enterprise as it prepares tighter underwriting requirements. [Read More]( Q&A   5 Questions With Actovia CEO Jonathan Ingber Ingber spoke with Commercial Observer about his impetus for founding Actovia and what he sees in New York City lending trends in 2024. [Read More](   Other Stories From This Week   RXR’s Scott Rechler Shares His Investment Strategy Amid CRE Dislocation In an exclusive 'Power Briefing' with CO’s Cathy Cunningham, the RXR chairman discussed how he’s taking advantage of the new normal. [Read More]( Lev Eyes Aiding Broker Business With Platform Expansion Five years after launching as a digital commercial real estate brokerage platform focused on lenders and borrowers, Lev is now targeting brokers in its latest expansion. [Read More]( Capstone, AmTrust Set to Buy Savanna’s 360 Lexington Avenue at $115M Discount Private equity firm Capstone Equities and property management company AmTrust RE are set to buy Savanna’s office building at 360 Lexington Avenue at a steep discount, after the property previously saw slow leasing and a foreclosure from its lenders. [Read More]( Starwood, Artisan Ventures Surrender 1.6M-SF SoCal Office Towers The loss is the third instance of the joint venture handing back the keys to California properties this year. [Read More]( What We're Reading This Week   - Can 3-D printing revolutionize real estate? [Walmart]( put that question to the test. [WSJ] - China’s [unworkable housing rescue]( math is prolonging crisis [Bloomberg] - Federal Reserve unveils toned-down [banking regulations]( in victory for Wall Street [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 09/12/2024