The Insider`s Weekly Guide to the Commercial Mortgage

The Insider’s Weekly Guide to the Commercial Mortgage Industry
In This Issue
1 Pakistani-Owned Roosevelt Hotel Refinanced by J. P. Morgan
1 Iron Hound Closes Deal on Upper East Side Hotel Refi, Harlem Development
3 Carlyle, Megalith Score $72M Construction Loan For Dumbo Residential Project
3 Greystone Provides One-Year Bridge to Permanent HUD Financing for Queens Nursing Home
5 Student Housing Developer Refis Kalamazoo Property
5 Centerline Lends on Washington State Multifamily Acquisition
michaelminn.net/newyork
“We’re making a more
deliberate effort now to
take more market share.”
Pakistani-Owned Roosevelt
Hotel Refinanced by J.P. Morgan
One of New York’s pretaking full control of the hotel.
mier hotels has caught the
The Pakistani government put the hotel up
eye of one of New York’s
for sale in 2007, with an asking price of $1 billeading banks.
lion, and then took it off the market in 2011 due
J.P. Morgan Chase &
to declining real estate prices at the time, acCo. provided a $140 milcording to previous news reports.
lion loan to refinance existing debt on the
The historic hotel, which first opened in
iconic Roosevelt Hotel, which
1924, has appeared in famous
is owned by the Pakistani govHollywood movies including
ernment’s state-run Pakistan
The French Connection, Wall
By the Numbers
International Airlines, public
Street, Quiz Show, Boiler Room
records show.
and Man on a Ledge. The hotel
The 1,015-room art deco hotel
temporarily closed in 1995 and
at 45 East 45th Street recently
reopened in 1997 following a
underwent a “multi-million dol$65 million renovation.
lar guestroom upgrade,” which
The Roosevelt has 30,000
Asking price for
began in November 2011, acsquare feet of meeting and exthe Roosevelt Hotel
cording to the hotel’s website.
hibit space, including two ballin 2007
PIA acquired the hotel for
rooms and 17 meeting rooms.
$36.5 million in 1999 in partnerThe loan from J.P. Morgan
ship with Saudi Arabia’s Prince
closed on May 9, according
Faisal bin Khalid bin Abdulaziz Al Saud
to city records. The hotel’s owner could
after an ongoing legal battle with the hotel’s
not be reached for comment. A spokesperprevious owner, Paul Milstein. PIA later
son for J.P. Morgan declined to comment.
bought out Prince Al Saud’s share in 2005,
—Damian Ghigliotty
The
LEAD
$1B
1 | May 30, 2014
—Chad Tredway From
Q&A on page 10
Iron Hound Closes
Deals on Upper East
Side Hotel Refi and
Harlem Development
The New York-based real estate advisory firm Iron Hound
Management Company has
arranged two recent loans for a
hotel refinancing on the Upper East Side and
a ground-up apartment and retail construction project in Harlem, Mortgage Observer
Weekly has first learned.
Iron Hound closed a $45 million loan from
CIBC on behalf of Denihan Hospitality
Group to retire a construction/renovation
loan taken out for an extensive upgrade on
The Surrey hotel at 20 East 76th Street.
MOW
EXCLUSIVE
See Iron Hound... continued on page 3
Relationship Driven.
Execution Focused.
Only Meridian Capital Group’s powerful
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clients require.
Meridian Capital Group, LLC
WYV\KS`HK]PZLKVUÄUHUJPUNMVY[OL
MVSSV^PUN[YHUZHJ[PVU!
Towers at Wyncote
<UP[4\S[PMHTPS`7YVWLY[`
>`UJV[L7(
$92,260,000
Acquisition Financing
This transaction was negotiated by:
David Fisher, Senior Vice President
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MOW - $92.3MM - Towers at Wyncote - David Fisher - 5-30-14.indd 1
2 | May 30, 2014
5/28/14 1:26 PM
The renovation of the hotel’s interior, which
was completed in 2009, included newly
added rooms and expanded restaurant space.
The building’s facade work was finished in
September 2013, allowing the hotel to operate at full capacity post-renovation.
The new loan from CIBC carries a five-year
term including extension options, said Iron
Hound Managing Director Christopher
Herron. The previous loan was refinanced at
maturity, he said.
“It’s a continuing relationship between
Iron Hound and Denihan,” Mr. Herron told
MOW. “They’re one of the more sophisticated hospitality groups not only in this city, but
throughout the country.”
Iron Hound also closed a $36 million construction loan from Natixis on behalf of
Bobby Cayre’s Aurora Capital Associates
and the Adjmi family for their mixed-use
apartment and retail development at 5-15
West 125th Street. The completed building, which will span a full block, is expected to contain
1 0 0,0 0 0
square feet of
retail space
in addition to
several apartment units.
Both loans
closed on May
22.
“These two
transactions
represent
Iron Hound’s
ability to be
creative and
secure financRobert Verrone
ing on difficult
transactions
for our clients,” said Iron Hound Principal
Robert Verrone. “We have closed more
than $2.25 billion in brokerage assignments
across the country and this side of the business continues to grow, complementing the
restructuring services we provide.”
—Damian Ghigliotty
Carlyle, Megalith Score $72M
Construction Loan For Dumbo
Residential Project
177 Front Street
Developers planning residential conversions
in Dumbo received $72.5 million in construction funds backed by three parcels from Tel
Aviv-based Bank Leumi, according to records
filed with the city of New York this week.
The developers are a partnership comprised of an affiliate of Washington, D.C.based asset manager The Carlyle Group,
Megalith Capital Management and developer Urban Realty Partners, a representative for Megalith confirmed.
New York-based developer and equity investor Megalith was already at work on the project—a residential rental and a condominium
building—with Urban Realty. Now, they have
brought in a new equity partner in Carlyle,
though the amount of any equity infusion from
the asset manager was not disclosed.
The plots—at 200 Water Street, 177
Front Street and 173 Front Street—were
signed over to an LLC controlled by the partnership for $30.6 million earlier this week.
That is exactly the amount Megalith paid
last year when it bought the parcels from the
Jehovah’s Witnesses, a major Brooklyn
landowner that has been systematically shedding assets for years now.
Greystone Provides OneYear Bridge to Permanent
HUD Financing for
Queens Nursing Home
New York-based multifamily and health care lender
Greystone brought $36.7 million in bridge financing on a
senior living facility in Hollis, Queens, to permanent HUD financing in one year, Mortgage
Observer Weekly can exclusively report.
The original bridge loan provided to Centers
MOW
EXCLUSIVE
Holliswood Care Center
for Specialty Care Group to acquire the
314-bed facility, Holliswood Center for
Rehabilitation and Healthcare, closed in May
2013. The new 30-year HUD loan closed on May
3 | May 30, 2014
The new equity partner, in combination with
the construction loan, will allow the group to
move forward developing on the parcels, which
currently hold warehouses or are vacant.
“We are pleased to have a new equity partner
and construction lender as we move forward
with our continued goal to create new condominium residences and rental apartments
within the context of this emerging New York
City neighborhood,” said Sam Sidhu, chief executive officer of Megalith, in a statement provided exclusively to Mortgage Observer Weekly.
“We have assembled an impressive team
led by Ari Aufgang of Aufgang Architects
and these new financing partnerships come
at an exciting time as we enter the next phase
of the projects’ development,” added Shelly
Listokin, managing member of Urban Realty
Partners, in the statement.
At 177 Front, Megalith plans to build a
mixed-use project with 105 residential rentals and retail; at 200 Water Street the developer is plotting residential condominiums,
according to previous reports.
A representative for Carlyle declined to
comment; Bank Leumi did not respond to a
request for comment. —Guelda Voien
20, 2014, marking a relatively quick takeout.
Fred Levine, a loan originator based out
of the company’s Monsey, N.Y., office, led the
transaction.
“HUD financing is the best long-term nonrecourse financing option for health care
properties, and our expertise in this area, such
as our state-specific knowledge and relationship with HUD, is evident by the successful
bridge-to-HUD process for Holliswood that
was closed in under a year,” Mr. Levine said.
The private nursing home, which accepts
Medicare and Medicaid, is significantly larger
than New York’s average facility size of around
183 beds. —Damian Ghigliotty
177 Front Street Rendering Credit: Aufgang + Subotovsky
Iron Hound....continued from page 1
Interests always aligned…
Just do the diligence.
WWW.ACKMANZIFF.COM
ONE FIRM
4 | May 30, 2014
Student Housing Developer
Refis Kalamazoo Property
Greenhill at Kalamazoo
Developer Greenhill Partners
closed an $18 million refinancing from CIBC on a Kalamazoo,
Mich. student housing facility,
Mortgage Observer Weekly has first learned.
The building, called the Greenhill at
Kalamazoo, is an apartment-style student
housing development, the asset type that
Greenhill Partners specializes in, the company’s website shows.
The 10-year loan has a rate in the mid 4 percent range, according to Massey Knakal
Realty Services’ Justin Boruchov, who brokered the deal. Mortgage Observer Weekly heard
MOW
EXCLUSIVE
of the just-closed transaction last week at the
International Council of Shopping Center’s
RECon event. The loan has a five-year interest
only period and will be securitized.
“The borrowers purchased the property a
year ago using short-term financing but made
quick improvements to the asset which created significant value,” Mr. Boruchov told MOW
via email. “We knew that CMBS would be a
great execution here,” he said, adding that interest rates were “near bottom.”
Neither CIBC nor Greenhill’s executives
immediately responded to request for comment. —Guelda Voien
Centerline Lends on
Washington State
Multifamily Acquisition
Centerline Capital Group, which provides
affordable and market-rate multifamily housing services, has originated an $18.5 million
Freddie Mac loan facility for the acquisition
of a multifamily complex in Everett, Wash.,
through the firm’s mortgage banking group.
The borrower, listed as 128 Partners LLC,
acquired the property, Lakes by Mill Creek,
in April for $26 million. Centerline declined
to name the seller.
The garden-style apartment complex
was built in 1986 and contains 223 residential units. While the roofing and facades
of the complex have undergone renovations, many of the unit interiors are in their
original state.
“This was the perfect buyer for this property,” said Peter Clasquin, senior vice president at Centerline. “Although the project is
99 percent occupied today, a moderate renovation plan will enable the buyer to realize
material upside in rents. The owner may then
obtain a supplemental loan, sell the property
or simply enjoy their low fixed rate.”
Centerline’s servicing team will allow for
“continuity and communication throughout
the loan term,” according to a company press
release. Riverstone Residential Group
will provide property management services.
—Damian Ghigliotty
5 | May 30, 2014
Work Force
Keith Hires has joined national mortgage provider Greystone, the company announced this week. Mr. Hires
will focus primarily on bridge and
mezzanine loans for borrowers in the
Southeast and Mid-Atlantic and will
report to Marty Lanigan, head of
Greystone’s portfolio lending group.
Mr. Hires was most recently a
managing director at Guggenheim
Commercial Real Estate Finance,
and built a loan production platform for
the company’s Atlanta office, according
to a statement from Greystone.
“Keith is an incredible addition to
our growing portfolio lending team,
and his reach in the Southeast and
Mid-Atlantic regions is going to be integral as we look to satisfy the growing
demand for interim financing across
multifamily, health care and student
housing properties,” said Mr. Lanigan
in the statement. “Having worked
with Keith previously, I know his production banking talent will be an asset
to Greystone.”
Mr. Hires commented that he was
“excited to be a part of an organization
that has such a strong entrepreneurial
spirit,” in the statement.
-Harry R. Silvera has joined Gibson,
Dunn & Crutcher LLP, according
to a press release from the firm. Mr.
Silvera was last a partner in the real estate practice at Fried, Frank, Harris,
Shriver & Jacobson.
“Harry is highly regarded by the real
estate community and will be a terrific
addition to the firm,” said Ken Doran,
chairman of Gibson Dunn, in the release. “We have one of the country’s
premier real estate practices, and our
New York real estate group regularly
represents clients in the city’s most
significant real estate transactions.
Harry’s practice will complement our
real estate group and provide additional capacity.”
Correction: In a story last week titled, “GFI
Capital Receives HSBC Loan on Beekman
Hotel Development,” Mortgage Observer
Weekly reported that a $195 million construction loan amounted to $207 million.
That inaccurate number was reported after
HSBC reviewed the information we came
across in public records and declined to clarify. GFI did not respond to previous requests
for comment before issuing their press release. MOW later learned that M&T Bank
was also a lender in the deal.
New York Real Estate Summit
www.nyrealestatesummit.com
State of the Commercial Real Estate-Outlook for 2015
Wednesday, September 10, 2014-8:00 AM to 1 PM
Graduate Center of the City University-365 Fifth Ave, New York City
Panels
CEO’s View on the state of market & economy-where are we headed?
Scott Rechler, Chairman & CEO, RXR Realty
Joseph Sitt, Chairman & CEO, Thor Equities
Steven Witkoff, Chairman & CEO, The Witkoff Group
Ofer Yardeni, Chairman & Co-CEO, Stonehenge Partners
Schedule for the event:
7:30 AM-8:30 AM: Registration & breakfast
8:30 AM-9:30AM: CEO’s View on the marketWhere are we headed in 2015?
9:40 AM-10:40 AM: The Hot, hot, residential
market in the region
10::40 AM-11:00 AM: Coffee Break
11:00 AM - 12:00 Noon-Sources of debt,
equity & alternative financing for commercial
real estate
The hot, hot residential market in the region
Peter D’Arcy, President, M & T Bank
Allen Goldman, President, SJP Residential
Jeffrey Levine, Chairman & CEO, Douglaston Development, Levine Builders
Joseph McMillan, Jr. Chairman & CEO, DDG
Benjamin Stacks, Greater New York Market Manager, Capital One Bank
David Von Spreckelsen, President, Toll Brothers City Living
Josh Zegen, Managing Member, Madison Realty Capital
Sources of debt, equity & alternative financing for commercial real estate
James Carpenter, Sr.EVP, Chief Lending Officer, New York Community Bank
Roy Chin, Regional Director, Commercial Real Estate, TD Bank
Kevin Cummings, President & CEO, Investors Bank
Ralph Herzka, Chairman & CEO, Meridian Capital Group
Matthew Galligan, President, CIT Real Estate Finance
Steven Kenny, Eastern Regional Executive, Bank of America Merrill Lynch
Tim Johnson, Managing Director, Real Estate Debt Strategies, The Blackstone Group
Emerging Trends & Areas of Growth in the office market
Eric Gural, Executive Managing Director, Newmark Holdings
Jared Kushner, President & CEO, Kushner Companies
Janno Lieber, President, World Trade Center Properties, Silverstein Properties
Gregg Popkin, Chief Operating Officer, RFR Holdings
6 | May 30, 2014
12:00 PM-1:00 PM: Emerging Trends & areas
of growth in the office market
For additional information visit the website
or call:
www.nyrealestatesummit.com
Michael Stoler, 646-442-0717
mstoler@madisonrealtycapital.com
michaelstoler@icloud.com
www.michaelstolertelevision.com
www.buildingnynylifestories.com
www.thestolerreport.com
The Takeaway
“Office was the only major property type that did not improve in April, with a delinquency rate increase of nine basis points to 6.82 percent,” said
Joe McBride, research analyst with Trepp. “The industrial delinquency rate fell 13 basis points to 8.69 percent and the lodging delinquency rate
shed 14 basis points to 6.32 percent. The retail delinquency rate lowered six basis points to 5.65 percent and remains the best performing major
property type. The multifamily delinquency rate is now in the single digits after it dropped 39 basis points in April to 9.83 percent, but apartment
loans are still the worst performer among the major property types.”
Source:
Top Ten Special Service - Current
Prop Type
Property Name
Balance
Delinquency Status
City
State
Loan Type
#Loans
#Deals
LO
LXR Hospitality Pool
913,052,656
Performing Beyond Maturity
Various
VR
Floating
2
1
MF
The Belnord
375,000,000
Current
New York
NY
Fixed
1
1
IN
Schron Industrial Portfolio
305,000,000
Current
various
NY
Fixed
2
1
IN
Bush Terminal
292,500,000
Current
Various
NY
Fixed
2
2
LO
Westin Portfolio
234,639,103
Current
Various
VR
Fixed
2
2
OF
Lincoln Square
220,000,000
Current
Washington
DC
Fixed
2
2
OF
Pickwick Plaza
200,000,000
Current
Greenwich
CT
Fixed
1
1
RT
Gulf Coast Town Center Phases I & II
190,800,000
Current
Fort Myers
FL
Fixed
1
1
IN
BlueLinx Holdings Portfolio (Rollup)
186,134,811
Current
Various
VR
Fixed
2
2
LO
Longhouse Hospitality Pool
151,527,980
Performing Beyond Maturity
Various
VR
Floating
1
1
Top Ten Delinquencies LO
Property Name
Balance
Delinquency Status
City
State
Loan Type #Loans
#Deals
Resorts International - Casino Portfolio
201,493,678
REO
Various
VR
Floating
2
1
Four Seasons Aviara Resort - Carlsbad, CA
186,500,000
Foreclosure
Carlsbad
CA
Fixed
1
1
Renaissance Mayflower Hotel
186,500,000
Non-Performing Beyond Maturity Washington
DC
Fixed
1
1
Hyatt Regency- Bethesda
140,000,000
REO
Bethesda
MD
Fixed
1
1
Westin Casuarina Hotel & Spa
138,621,176
90+ Days
Las Vegas
NV
Fixed
1
1
Westin Casuarina Resort & Spa - Cayman Islands 130,928,018
Foreclosure
George Town
FO
Fixed
1
1
PHOV Portfolio (all but Rockville)
121,025,960
Non-Performing Beyond Maturity Various
VR
Floating
2
1
Loews Lake Las Vegas
117,000,000
REO
Henderson
NV
Fixed
1
1
Trinity Hotel Portfolio (Rollup)
112,662,601
REO
Various
VR
Fixed
1
1
Long Island Marriott and Conference Center
103,500,000
Foreclosure
Uniondale
NY
Fixed
1
1
Hilton Daytona Beach
88,173,173
REO
Daytona Beach
FL
Fixed
1
1
continued on next page
7 | May 30, 2014
s
s continued from previous page
Source:
Top Ten Delinquencies MF
Property Name
Balance
Delinquency Status
City
State
Loan Type #Loans
#Deals
Peter Cooper Village & Stuyvesant Town Pool
3,000,000,000
90+ Days
New York
NY
Fixed
5
5
Riverton Apartments
225,000,000
REO
New York
NY
Fixed
1
1
Babcock & Brown FX 2
84,394,981
REO
Various
VR
Fixed
1
1
Marina Shores Apartments
64,600,000
Foreclosure
Virginia Beach
VA
Fixed
1
1
CityView Portfolio II
57,227,594
REO
Houston
TX
Fixed
1
1
Towers at University Town Center
51,269,685
REO
Hyattsville
MD
Fixed
1
1
Westshore Cove
50,000,000
REO
Tampa
FL
Fixed
1
1
Palmer-Rochester Portfolio 1st
49,132,200
90+ Days
Various
VR
Fixed
1
1
Victoria Place Apartments
44,808,220
REO
Orlando
FL
Fixed
1
1
Canterbury Apartments
43,360,000
REO
Myrtle Beach
SC
Fixed
1
1
Property Name
Balance
Delinquency Status
City
Bank of America Plaza
363,000,000
REO
Atlanta
GA
Fixed
5
1
COPT Office Portfolio
146,353,613
REO
various
VR
Fixed
1
1
DRA-CRT Portfolio I
133,741,818
REO
Various
VR
Fixed
1
1
Glendale Center
125,000,000
REO
Glendale
CA
Fixed
1
1
123 North Wacker
120,625,621
60 Days
Chicago
IL
Fixed
1
1
Oasis Net Leased Portfolio
109,320,796
REO
Various
VR
Fixed
1
1
Government Property Advisors Portfolio
94,234,874
Foreclosure
Various
VR
Fixed
1
1
Cerritos Corporate Center
90,957,256
REO
Cerritos
CA
Fixed
1
1
Avion Business Park Portfolio
90,886,116
REO
Chantilly
VA
Fixed
1
1
Century Centre Office
89,957,980
Foreclosure
Irvine
CA
Fixed
1
1
Property Name
Balance
Delinquency Status
City
State
DDR/Macquarie Mervyn's Portfolio
153,354,932
REO
Various
VR
Fixed/Floating
3
3
Citadel Mall
136,000,000
REO
Colorado Springs
CO
Fixed
1
1
Northwest Arkansas Mall
125,600,000
REO
Fayetteville
AR
Fixed
1
1
The Source
124,000,000
REO
Westbury
NY
Fixed
1
1
Marley Station
114,400,000
REO
Glen Burnie
MD
Fixed
1
1
Genesee Valley Center
106,433,612
REO
Flint
MI
Fixed
1
1
Rushmore Mall
94,000,000
30 Days
Rapid City
SD
Fixed
1
1
Ariel Preferred Retail Portfolio
87,269,663
REO
Various
VR
Fixed
1
1
Blackpoint Puerto Rico Retail
84,675,000
Non-Performing Beyond Maturity Various
PR
Fixed
1
1
Fiesta Mall
84,000,000
REO
AZ
Fixed
1
1
Top Ten Delinquencies OF
State
Loan Type #Loans
#Deals
Top Ten Delinquencies RT
8 | May 30, 2014
Mesa
Loan Type #Loans
#Deals
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Panel topics include:
O
Lending: Is it Déjà vu All over Again?
O
How to Make Money in CMBS 1.0
O
Finding Opportunities & Navigating
Challenges in the High Yield Market:
How the Pros Do It
O
Borrowers Answer the Question:
Who’s Your “Lending” Daddy?
O
Outlook: Bank & Insurance Lending
Q+A
Chad Tredway
East Area Manager for Commercial Term Lending at Chase
the MBA. Al Brooks, the president of our CTL
business, has done a great job of picking our
markets. California has been, historically,
where a lot of our business has taken place. We
see the Northeast as a growth market for us
and Northeast market selection has been paramount. We’re in Boston, D.C. and New York.
Chad Tredway
Mortgage Observer Weekly: What does
your new role as East area manager of
commercial term lending entail?
Chad Tredway: I’m really here to provide
two things from a high level: leadership
and focus. Our goal is to build our East area
platform into a dominant market player.
What are your plans for the business
going forward?
There are three things we’re focused on
as we continue to build the business. The
first one is process. We’re closing loans in
45 days or less and we’re going to continue to focus on that. The second one is pricing. We’re engaged in the market with our
customers and we offer one of the lowest
fee schedules in the industry. The third
and final one is partnership. We’ve got
local decision-makers and we’re looking
to build long-term partnerships with our
customers. We’re looking for generational owners and we’ll help them build and
maintain wealth over time.
Who are some of those customers that
you can mention?
One thing our customers love about us is
we have a lot of discretion. I can say we
serve a lot of the biggest borrowers in New
York and we’ve partnered with them over
the last decade. Chase Commercial Term
Lending is also the number one multifamily lender nationwide, according to
In what others ways do you hope to
expand?
This is what I call Chase 2.0. We’re looking to
grow with big clients and we’re also looking
to grow internally as we look for high-quality
talent in the market—people with local-market expertise. We’ve been really focused on
growing our team [of 130 employees] in the
East region with seasoned professionals. We
just hired two experienced individuals, Alex
Biagioli and Michael Hagmann, who used to
work at Santander. We’re making a more deliberate effort now to take more market share
and to build this business for our customers.
Who are some of your biggest competitors in the commercial term lending
space in the Northeast?
The Northeast market’s probably the deepest in the country, so anyone with capital is
chasing multifamily assets. For us, it’s the
usual suspects. We’re always up there with
New York Community, Signature, Dime of
Williamsburgh, Astoria and the other banks
that you guys cover in Mortgage Observer
all the time. One thing that sets us apart
is the breadth of our team. The average
management team here has over 15 years
experience.
What’s the average deal size for your
team?
We’re doing deals from as small as $500,000
all the way up to a package that we just closed
of over $100 million. I think the public should
understand that we can do small deals, but we
can also do deals as large as $100 million, and
we’re very competitive on rate and structure.
Are you concerned at all about rising interest rates?
Our commitment is to stay engaged in the
market. We’ve looked at scenarios where rates
go up and rates go down and we believe our
strategy is adequate in both scenarios. We believe we’re one of the fastest and most reliable
banks when it comes to our process and certainty of execution.
10 | May 30, 2014
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Guelda Voien
Editor
Damian Ghigliotty
Staff Writer
Nadia Croes
Copy Editor
Barbara Ginsburg Shapiro
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Jane Migliore
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Lisa Medchill
Advertising Production
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11 | May 30, 2014
The Insider’s Guide to the Commercial Real Estate Financial Industry
Mortgage Observer is a monthly glossy magazine dedicated to
in-depth coverage of the commercial real estate finance industry,
delving into the trends driving commercial real estate finance and
the lending philosophies of those in control of the purse strings.
Companion to The Mortgage Observer, providing industry updates
and news to 12,000 real estate insiders. Mortgage Observer Weekly
is a weekly PDF newsletter emailed directly to industry players every
Friday morning.
To receive Mortgage Observer Weekly, please visit commercialobserver.
com/mortgage-observer-weekly-signup
UPCOMING MORTGAGE OBSERVER ISSUES:
Issue
Editorial Feature
Issue
Editorial Feature
MARCH
The 50 Most Important People in Commercial
Real Estate Finance
SEPTEMBER
Lawyer’s Issue /
Mortgage REITs
APRIL
Financing the Multifamily Market
OCTOBER
Hotel Lending
MAY
Developers and Construction Lending
NOVEMBER
Twenty on the Rise: Top 20 Brokers Under 35
JUNE
Retail Lending
DECEMBER
Life Companies
JULY/AUGUST
Opportunities in Mezzanine Financing Europe
For advertising information please contact
Barbara Ginsburg Shapiro, Associate Publisher, at 212-407-9383, bshapiro@observer.com.
12 | May 30, 2014