Miamiâs Arnaud Karsenti dishes, COâs REBNY red carpet interviews, and loans galore
This week, the nation finally warms up from a brutal January chill, and what better place to go than sunny Miami? COâs Executive Editor Cathy Cunningham sat down with 13th Floorâs Arnaud Karsenti to discuss the growth of his firmâs South Florida real estate development and investment firm and how he plans to take advantage of market distress in this current cycle. But thereâs also the glitz and glamour of the 2024 REBNY Power Gala in New York City. COâs Brian Pascus held court on the red carpet with the industryâs biggest names and most exclusive players to discuss their expectations for 2024, whether the presidential election will impact their business, and what the best advice theyâd ever received in their career was. As always, thereâs a handful of loans for your perusal, including a $150 million construction loan for a new apartment complex in the ever-expanding Port Imperial Development along the Hudson River in New Jersey (a planned community that began construction in 1997!). 13th Floorâs Arnaud Karsenti Is Betting Big on Miami Real estate wasnât originally in the cards for Arnaud Karsenti, but he bet big on Miamiâs growth 20 years ago with his 13th Floor Investments â and won. Karsenti sat down with COâs Cathy Cunningham to talk about deal-making and development. [Read More]( Top Deals Of The Week - [Northwestern Mutual]( Life Lends $150M to Construct NJ Palisades Apartment Complex
- Lexin Capital Buys Back Its Defaulted Chelsea [Office Loan]( at a Discount
- Slate Asset Management [Refis]( Brooklyn Hotel With $59M Loan - Jack Terziâs JTRE Holdings [Secures]( CMBS Loan Modification for 240 East 54th Street - CMBS Loan Behind [Fannie Mae]( HQ Exit Faces Future Balloon Payment Risks - [Southern States Banks]( Lends $23M on Charleston Industrial Projectâs Construction People Moves M&T Realty Appoints Michael Edelman as CEO The commercial real estate finance veteran has been promoted from his president role at the off-balance-sheet lending arm of M&T Bank [Read More]( Q&A TailoredSpace CEO Drew Sanden On How to Smartly Grow Coworking Companies With the global leader in coworking, WeWork, in bankruptcy and reports that only about 2 percent of office space is flexible space, thereâs still no shortage of entrepreneurs who fervently believe that the market is there and they know how to tap it in a sustainable way. Ryan Masiello, co-founder and chief strategy officer of VTS, is one of them. [Read More]( Other Stories From This Week A Tumultuous Multifamily Market Starts to Reach Consensus on Values
A new report from CBRE found financing fundamentals in the national multifamily space are starting to stabilize as softening going-in cap rates indicate a consensus around values for the asset class.. [Read More]( The Southeastâs âBattery Beltâ Is Big for Commercial Real Estate Thanks to the generous incentives in 2021âs Inflation Reduction Act, roughly 77 EV projects nationally, representing $80 billion in investments and just shy of 50,000 jobs, have been announced so far, according to a recent Cushman & Wakefield (CWK) report, with half of those in this Southeastern region dubbed the Battery Belt. [Read More]( REBNY Gala Brings Strong Words From Hochul, Adams New Yorkâs top elected officials implored the commercial real estate industryâs largest trade group to intervene on housing and educational policy. [Read More]( Bank of America Inks 550K-SF Lease at BGOâs Jersey City Office Tower Bank of America has signed a 15-year lease to take 550,000 square feet at BGOâs Newport Tower in Jersey City, the companies told Commercial Observer. [Read More]( What We're Reading This Week - To [inflate building values](, office landlords offer cash gifts, discounted loans [Wall Street Journl]
- [Regional banks]( had another ugly quarter [WSJ] - Bank of America warns [return-to-office]( laggards with âletters of educationâ [Financial Times] [View in Browser]( | [Advertise]( | [Forward to a Friend](
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This newsletter was published 01/25/2024