|
| Weekly Interest Rate Tracking |
| March 25, 2009 |
Good Afternoon,
Attached is a PDF copy of Colliers Meredith & Grew's interest rate sheet that includes current and historical Treasury, LIBOR and Prime interest rates, which are updated daily with real time data from Strategic Alliance Mortgage.
We provide these updates on a weekly basis to keep our clients and colleagues aware of rate movements. We hope you find this information helpful.
DOWNLOAD INTEREST RATE SHEET (25KB)
The following Market Perspective provides insights and commentary on breaking news and emerging trends in commercial real estate finance.
CMG Market Perspective: Opportunities in Real Estate Finance
For lenders looking for liquidity, here’s one to think about: Hypothecation of Mortgage.
Much like investors borrow against the value of their security, a lender may pledge its mortgage asset as collateral for a loan. We expect that behind the scenes, more lenders will become borrowers by pursuing this strategy and need a variety of different capital sources – that’s where we come in. Depending upon the loan amount and term requirements, the borrower, in this case the lender, may find capital sources in banks, life companies or debt funds.
Colliers Meredith & Grew Secures $10.5 Million Financing for 90 Plain Street in Providence, Rhode Island
Colliers Meredith & Grew’s Capital Markets group has secured a $10.5 million construction loan for 90 Plain Street in Providence, Rhode Island.
Executive Vice President David M. Douvadjian and Senior Vice President Thomas F. Welch of Colliers Meredith & Grew represented the borrower, an entity related to Atlantic Management. Middlesex Savings Bank financed the transaction. The ten-year, fixed-rate loan closed on February 20, 2009.
"In 2008, Colliers Meredith & Grew arranged a non-recourse acquisition loan to facilitate the client's purchase of the vacant building in a state excess property auction," said Douvadjian. "After the client successfully negotiated a long-term lease with Women & Infants Hospital, we obtained multiple offers from banks and life insurance companies to provide long-term construction permanent debt, featuring attractive loan-to-cost and pricing, despite a generally dismal lending climate."
90 Plain Street is a four-story, 39,775-square-foot medical office building located in downtown Providence. It is adjacent to Rhode Island Hospital and Women & Infants Hospital of Rhode Island and within close proximity to Interstate 95. The building is 100% leased to Women & Infants Hospital.
|
| Please contact the Capital Markets Group at Colliers Meredith & Grew with any financing questions.
|
|
|
|
|
|
Colliers Meredith & Grew respects your privacy. If you prefer to be removed from our distribution list, please click here to unsubscribe. A copy of our privacy policy can be found on our website.
Colliers Meredith & Grew is a Boston-based commercial real estate company with integrated service groups including Brokerage, Capital Markets, Counseling & Valuation, Development & Advisory, Investment Sales, and Property & Asset Management. In addition to representing its core clients in New England, Colliers Meredith & Grew provides national and international real estate services to its multi-market clients as a member of Colliers International and as an owner/member of Strategic Alliance Mortgage LLC (SAM). Colliers International is a worldwide affiliation of independently owned and operated companies in more than 293 offices in 61 countries. |
|
