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  • X-Caliber, CastleGreen Lend $36M For Hotel Development Near FDR Library
    by Acoen on Tuesday, May 10, 2022

    A joint venture between T-Rex Capital Group and Shaner Hotel Group has landed a $36 million financing package to build a planned Marriott-branded hotel property in New York’s Hudson Valley, near the Franklin D. Roosevelt Presidential Library and Museum, Commercial Observer has learned. X-Caliber Rural Capital (XRC) , an affiliate of X-Caliber Capital and CastleGreen

  • Spring Financing Forum: CRE Financing Confronts Choppy Waters
    by Acoen on Thursday, May 5, 2022

    One year after optimism beckoned the commercial real estate capital markets after surviving the worst of the COVID-19 pandemic, lenders and brokers are confronting new challenges for 2022 in a volatile economic climate. Panelists at Commercial Observer’s sixth annual Spring Financing CRE Forum in New York stressed that acting nimbly amid market volatility from rising

  • X-Caliber, CastleGreen Lend $55M on SoCal Multifamily Development
    by Acoen on Tuesday, April 26, 2022

    John Molina’s Pacific6 Enterprises has landed $55 million of financing to implement environmentally friendly upgrades to its planned multifamily property in Southern California, Commercial Observer has learned. X-Caliber Funding, a subsidiary of X-Caliber Capital, and CastleGreen Finance provided the debt package, which includes a $34.4 million short-term first-mortgage loan and $20.6 million in long-term Commercial Property

  • Sunday Summary: The End of 421a as We Know It?
    by The Editors on Sunday, April 10, 2022

    After wishin’ and hopin’ and thinkin’ and prayin’… 421a was not included in Gov. Kathy Hochul’s budget on Thursday. Nor was there a replacement for the tax incentive for affordable housing development. This will be a bitter pill for a lot of real estate developers to swallow. Back in January a number of owners and

  • Nuveen Green Capital’s Alexandra Cooley Is a Pioneer in C-PACE Lending
    by Emilyfu on Monday, April 4, 2022

    A lot can happen over a decade. The combined land and ocean temperature increased at an average rate of 0.13 degrees Fahrenheit per decade from 1880 to 2020, according to the National Oceanic and Atmospheric Administration. It’s a big reason Alexandra Cooley spent the past decade trying to mitigate climate change in her own way, including

  • Nuveen Green Capital Leads the Way on Sustainable Financing Through C-PACE
    by Sophia on Monday, March 7, 2022

    Commercial Property Assessed Clean Energy, or C-PACE, has become a leading mechanism for the financing of clean energy improvements and other energy efficiency initiatives for commercial buildings. Partner Insights spoke with Jessica Bailey, president and CEO of Nuveen Green Capital, the leading provider of C-PACE financing solutions, to learn more about this crucial tool for

  • How DC’s Crippled Hospitality Industry is Accessing Capital
    by Keith Loria on Friday, February 25, 2022

    The American Hotel & Lodging Association estimated that Washington, D.C. lost more than $2 billion in travel revenue in 2021, as the usually busy summer months were hampered by restrictions.  Given the unprecedented drop in demand, and the sustained impact of near zero group travel, the ways in which hotels drive revenue to their bottom

  • Mansoor Ghori Talks Apollo Investment, C-PACE Growth
    by Acoen on Friday, February 4, 2022

    The commercial property assessed clean energy (C-PACE) sector opened 2022 with momentum after Athene Holdings decided to invest in C-PACE firm Petros Pace Finance with the investment management team at Apollo overseeing the stake. Athene announced the acquisition of Petros, one of the leading C-PACE lenders, on Jan. 18. With Apollo’s collaboration, Athene is aiming

  • Speaking to the Top Lenders of 2021
    by The Editors on Monday, November 8, 2021

    Well, it’s been one heck of a 20 months, folks, but — dare we say — our annual Lenders Issue comes with a distinct air of optimism this year.  In stark contrast to November 2020 — a time when uncertainty reigned supreme and sweatpants were the dress code de rigeur — today our lenders see

  • Nightingale, Wafra Capital Talk 111 Wall Street and C-PACE Financing
    by Mburke18 on Thursday, October 14, 2021

    Elie Schwartz and Simon Singer’s Nightingale Properties first connected with Wafra Capital Partners and its vice president, Robert Rothschild, in 2017. Just over two years later, in July 2019, Nightingale and Wafra Capital, an investment arm under Kuwait’s public pension fund, the Public Institution for Social Security of Kuwait (PIFSS), identified an opportunity at 111

  • Community Three Secures $60M for Condos in DC’s Mount Vernon Triangle
    by Keith Loria on Tuesday, September 21, 2021

    Community Three Development has secured $60 million in construction financing for a 12-story condo development in the Mount Vernon Triangle neighborhood of Washington, D.C., Commercial Observer has learned.  The financing was provided by FVCbank and Stonehill PACE, and arranged by Clearwater Capital Management. It is the first condominium development to be financed using Property Assessed

  • Sustaining Sustainability: The Economics of Decarbonization
    by Tacitelli on Thursday, September 16, 2021

    With the combined current emphasis on improved health in light of COVID-19 and a greater environmentalism in response to the rapidly encroaching effects of climate change, there may be no more essential buzzword in CRE today than “sustainability”. For a comprehensive look at how the commercial real estate industry is approaching the move toward greener,

  • Akerman’s Randy Eckers Talks Potential of C-PACE Loans
    by Acoen on Monday, June 21, 2021

    While Commercial Property Assessed Clean Energy (C-PACE) financing has picked up steam across the country, the financing vehicle still has much more room to grow. Still, the sector made headlines this week when New York City’s first C-PACE loan — and the largest C-PACE loan in the green financing source’s history — was made on

  • Nightingale, Wafra Capital Seal $500M Financing for 111 Wall Street
    by Cathy Cunningham on Friday, June 11, 2021

    The market is back, baby. And one of the largest office loans in New York City since COVID-19 hit U.S. shores has closed.  Nightingale Properties and Wafra Capital Partners (WCP) closed roughly $500 million in acquisition and construction financing for 111 Wall Street today, Commercial Observer can first report. A lending consortium that included SKW

  • C-PACE Financing Sees Massive Growth Nationally
    by Sophia on Monday, June 7, 2021

    Commercial Property Assessed Clean Energy (C-PACE) financing — a once little-known mechanism for property owners and developers to access low-cost, long-term, fixed-rate financing for new development or rehabilitation projects — is rapidly growing in popularity throughout the country. More and more states are adopting this assessment financing tool as governments look to incentivize commercial property


 

 

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