News:
Brokerage
Posted: November 20, 2018
Outside the Region: CIT Group secures $24 million acquisition financing for MWest Holdings
San Pedro, CA According to CIT Group Inc, its real estate finance division was the sole lead arranger of a $24 million senior secured loan for the acquisition of a multifamily property by MWest Holdings, a private real estate investment and management firm.
MWest Holdings acquired the San Pedro Bank Lofts, an 89-unit loft-style multifamily property located downtown near the Arts District, in August. The property consists of two four-story buildings.
“The convenient location of this property, and its proximity to the arts district and redeveloping Los Angeles waterfront, makes it an attractive investment,” said Matthew Ellis, chief investment officer at MWest Holdings. “We appreciated CIT’s real estate expertise, which helped enable a smooth and successful transaction.”
“CIT is active in financing commercial properties in the Southern California region,” said Bryan Cavalier, managing director and West Coast head of CIT’s Real Estate Finance division. “We were pleased to leverage our expertise to assist MWest Holdings in completing this purchase.”
CIT’s Real Estate Finance division originates and underwrites senior secured real estate transactions. With deep market expertise, underwriting experience and industry relationships, the unit provides financing for single properties, property portfolios and loan portfolios.
Tags:
Brokerage
MORE FROM Brokerage
Williams Equities leases 100,000 s/f at 470 Park Avenue South
Manhattan, NY Williams Equities leased 100,000 s/f of office and retail space at 470 Park Avenue South since acquiring the building 18 months ago.
Columns and Thought Leadership
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking