BOSTON-Beacon Capital Partners has completed the restructuringof its $2.7 billion CMBS mortgage, which it used for theacquisition of the 9.9-million-square-foot, 20-building officeportfolio in Washington, DC and Seattle from Blackstone Group in2007.
As per the restructuring deal, Beacon has earned a loanextension for five years to 2017 with reduction in interest ratefrom 5.797% to 3%. The firm must also put in a new security worth$200 million. For the full story, go to Wall Street Journal.
GlobeSt.com News Hub is your link torelevant real estate and business stories from other local,regional and national publications.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
