Freddie Mac Halts Loans From Appraiser; Blackstone Buys $1B Portfolio From German Lender

Freddie Mac Halts Loans From Appraiser; Blackstone Buys $1B Portfolio From German Lender This week, Freddie Mac is clamping down on appraisal firm BBG, no longer accepting new loans via the appraiser as it investigates potential mortgage fraud. Meanwhile, the Gas Company Tower in Los Angeles takes another valuation tumble, and Blackstone acquires a $1 billion loan portfolio from Deutsche Pfandbriefbank. Freddie Mac Calls Halt on New Loans From Appraiser BBG Freddie Mac will no longer accept new loans from appraisal firm BBG as the government-sponsored enterprise widens its internal investigation into potential mortgage fraud, particularly implicating Jon DiPietra, managing director of the company’s New York office. [Read More]( Top Deals Of The Week   - [Deutsche Bank]( Leads $120M Retail Refi for Miami Worldcenter - Northwestern Mutual Provides $103M Refi for [New Jersey]( Apartment Complex - First Citizens Bank Provides $74M Refi on [Brooklyn]( Luxury Apartment Building - Affinius Capital Provides $70M [Refi]( for Miami Luxury Apartment Tower - BridgeCity Lends $51M on Brooklyn[Office-to-Resi]( Conversion - Goldman Sachs UIG Lends $26M on [Seattle]( Apartment Project - White Oak, Thorofare Lend $22M on Tribeca [Self-Storage Conversion]( Project People Moves   Greystone Hires Shaya Ackerman From Meridian to Grow Agency Lending Shaya Ackerman joins Greystone after a decade of experience at Meridian, where he closed more than $10 billion in deals, as Commercial Observer first reported. [Read More]( Guest Columnist   Global Cities Post-Pandemic Have a Blueprint in London’s Recent Success While London continues to be the most attractive global city in which to invest, it can also be complex to do so, writes Jace Tyrrell, CEO of Opportunity London, a public-private partnership aiming to boost investment in the British capital’s low-carbon real estate, energy and infrastructure. [Read More](   Other Stories From This Week   L.A.’s Gas Company Tower Now Worth $215M The value of the 1.4 million-square-foot office building — which backs a $350 million CMBS loan and more than $100 million in mezzanine financing — has been cut down by 21 percent from its appraised value last summer, according to Trepp. [Read More]( Blackstone Nabs $1B Loan Portfolio From Deutsche Pfandbriefbank Blackstone Real Estate Debt Strategies has acquired a $1 billion performing senior mortgage loan portfolio from German lender Deutsche Pfandbriefbank, the company announced Tuesday. [Read More]( An Israeli Development Firm Saw Something in Yonkers — and It Paid Off for Both Azorim, known for building in Tel Aviv, has been ambitiously pursuing projects just across the New York City border in Yonkers with the help of a friendly municipal administration. [Read More]( What We're Reading This Week   - Losses [pile up]( in top-rated bonds backed by commercial real estate debt [Bloomberg] - Chicago to offer most generous subsidies in U.S. to [save]( its downtown [WSJ] - Businesses in D.C. [blame]( the government for the District’s empty offices [NYT]   [View in Browser]( | [Advertise]( | [Forward to a Friend]( [Manage your email preferences or unsubscribe]( [Share your thoughts: Help us improve with our quick feedback survey!]( [Commercial Observer]( © Copyright 2024 [Observer Media]( 1 Whitehall Street, Floor 7, New York, NY 10004 This newsletter was published 05/30/2024