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| Weekly Interest Rate Tracking |
| April 24, 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.
Capital Markets Group Secures $23 Million Refinancing for 600 Washington Street, Boston, MA
The Capital Markets group at Colliers Meredith & Grew secured a $23 million, five-year, fixed-rate loan from TD Banknorth Inc. to recapitalize 600 Washington Street in Boston, Massachusetts. Colliers Meredith & Grew represented the borrower, Northland Investment Corporation (a privately held and vertically integrated real estate company that owns a $2.1 billion diversified portfolio of 19 million square feet in ten states) in the transaction. Given the overall turmoil of the capital markets, Colliers Meredith & Grew was very pleased to execute this transaction for our valued client. "All parties worked very hard to take the transaction from application to closing in less than 30 days," said John Broderick, Vice President. 600 Washington Street is a 7-story, 253,000 square foot Class A office building that is 95% leased by three agencies of the Commonwealth of Massachusetts.
Founded in 1978, the Capital Markets group is now one of the two largest commercial mortgage banking firms in the region. Led by Kevin Phelan (President) and David Douvadjian (Executive Vice President), the 13-person Capital Markets group produced in excess of $3.5 billion from 2005 to 2007 and in 2008, the group completed over 30 financings with an aggregate value of $1.16 billion, nationwide. In addition to representing 13 insurance companies and conduits as their New England correspondent, the Capital Markets group maintains a servicing portfolio valued at $1+ billion.
CMG Capital Markets producers provide nationwide representation for Boston-based clients, fulfilling the full spectrum of their debt and equity needs. Group members are at the cutting edge of technology utilizing a web-based system to monitor and catalogue capital markets conditions and participants. As an owner/member of Strategic Alliance Mortgage L.L.C. (SAM), Colliers Meredith & Grew’s Capital Markets producers have the ability to access real time deal information from individual member companies that are the leading providers of the best financing alternatives in their respective markets. These resources, combined with the group's in depth market knowledge, overall organizational and capital markets expertise, assures the best execution for both borrowers and lenders.
THE CAPITAL MARKETS GROUP. PAST EXPERIENCE. FUTURE RESULTS.
Colliers Meredith & Grew is pleased to provide a copy of its First Quarter 2009 Market Viewpoint, including commentary on trends and transactions in the metropolitan Boston real estate and capital markets. A section is included on each of the following: Boston, Cambridge, Suburbs, Investment Sales, and Capital Markets.
Please refer to the Investment Sales and Capital Markets sections of the report for insights and commentary on challenges and emerging trends in the real estate debt and equity markets. With the CMBS market effectively shut down since late 2007, limited transaction volume is feeding a lack of confidence in pricing and the capital required to maintain steady market activity remains scarce.
DOWNLOAD MARKET VIEWPOINT (818 KB)
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| Please contact the Capital Markets Group at Colliers Meredith & Grew with any financing questions.
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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. |
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