Globest Sectors

As previously reported by GlobeSt.com, New York-based PCCP acquired Cumberland Center II for $68.3 million in May 2018.

The Coastal Ridge/H. Katz joint venture has purchased more than $1 billion in properties since its inception in November 2014.

Loan proceeds will be used to return equity to the sponsorship, HFF says.

Even there were no mandated LEED requirements, Equity Residential saw it as an opportunity to lead the market and 855 Brannan is now the largest LEED Platinum-certified multifamily development in the city.

Prepayment penalties are tax deductible in California and at the federal level, and refinancing early could be a good deal for a borrower.

A look at the past and current climate of the private lending space in California

The 58 properties spanned 10 states, including 39 properties in Pennsylvania and seven in New Jersey.

The office vacancy rate remained relatively flat in the second quarter, but new office product is being absorbed.