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Preview: Raleigh/Durham Commercial Real Estate News From CoStar Group

Raleigh/Durham Commercial Real Estate News From CoStar Group

CoStar Group, Inc. is the leading provider of information services to commercial real estate property investors and sales professionals in the United States and United Kingdom. CoStar's suite of services offers access to the most comprehensive database of


ReadyCap Securitizes $164.96 Million of CRE Loans

Tue, 20 Mar 2018 06:15:36 GMT

ReadyCap Commercial LLC, an Irving, TX-based lender specializing in small-balance commercial real estate loans, securitized $164.96 million of newly originated first-lien, fixed rate CRE loans. Ready Capital Mortgage Trust 2018-4 is backed by 50 fixed-rate assets, including 47 whole mortgage loans and three senior participation interests in whole mortgage loans, each secured by first liens on 54 commercial and multifamily properties. According...

Southeastern Grocers to Close 94 Stores, File 'Pre-Packaged' Ch. 11 as Part of Restructuring Agreement with Lenders

Fri, 16 Mar 2018 02:20:03 GMT

Following a months' long review of how to reduce its debts, Jacksonville-based Southeastern Grocers has chosen to file for Chapter 11 bankruptcy reorganization. As part of this restructuring, it has decided to close 94 underperforming stores across the South, 35 in Florida, 19 each in Georgia and South Carolina, 10 in Alabama, nine in North Carolina, and one each in Mississippi and Louisiana. "We have not taken these steps without careful planning...

Mumtalakat, Sentinel Pay $135M for Lenovo Campus in Morrisville

Thu, 08 Mar 2018 09:17:26 GMT

Bahrain-based Mumtalakat partnered with New York investor Sentinel Real Estate Investment Corp. in the acquisition of the Lenovo Enterprise Campus in Morrisville, NC. The joint venture acquired the 447,584-square-foot campus from a joint venture between London-based 90 North Real Estate Partners and Dubai-based Arzan Wealth for $135.3 million, or about $302 per square foot. Additionally, the buyers received an $81.2 million acquisition loan...

KBS, Kane Realty JV Sells Midtown Plaza in North Hills for $127M

Tue, 06 Mar 2018 03:46:05 GMT

Newport Beach, CA-based private equity real estate company KBS, in partnership with Raleigh, NC-based developer Kane Realty Corp., sold the Midtown Plaza office building located in Raleigh’s North Hills. Lionstone Investments, a Houston-based investment firm, acquired the 329,613-square-foot complex for $127 million, or about $385 per square foot. The joint-venture partnership, which also developed the 18-story Bank of America Tower in North Hills...