Capital Markets

As private equity shifts away from opportunistic returns to focus on more core strategies their cost of capital will come down and buyers will be more willing to meet sellers on price, says PwC's Real Estate Deals Leader Tim Bodner.

The four-story office building and adjacent surface parking area was completed in 2013 and is fully leased to global pharmaceutical company GlaxoSmithKline through 2028.

The building has been a hit with office tenants, including Bank of America, which has also agreed to finance the trophy property.

There has been an increase in floating rate debt this year and bridge lending activity this year, even as interest rates are on the rise.

Real Capital Markets, which just reached a $1 trillion milestone, is seeing a surge in the volume of its industrial deals.

The fund will consist of Freddie Mac's multifamily debt investments and will also invest opportunistically in other debt assets such as mezzanine debt, B-notes, and discounted notes.

Banks still love multifamily deals, but with pricing and rental rates hitting records numbers, they are being more selective.

Harbor Group International paid a total of $64 million for the 314-unit garden apartment property, according to Berkadia, which arranged the acquisition loan from a major insurance company for the buyer.