Forest City Ratner Commercial Loan Sold to Blackstone and Wells Fargo

eHezi Archives 11 Comments

RidgeHill1YONKERS, NY — The Wall Street Journal today reported that the “Blackstone Group LP and Wells Fargo & Co. reached a deal with Allied Irish Banks PLC to buy a pool of about $600 million in U.S. commercial-property loans.”

The two firms are buying the loans which are comprised of “a mix of hotels, office buildings and retail properties in several states for a discount of 15% to 20% off face value.”


 

While  many of the assets in the Allied Irish pool are portions of larger loans that were syndicated. The collateral includes the new Ridge Hill being built by developer Forest City Ratner Cos. in Yonkers, N.Y., The Wall Street Journal was told..

The Wall Street Journal suggests “The sale comes as investors' appetite for commercial property has cooled recently given economic uncertainty, pulling back after prices rose in the first half.”

 

Enhanced by Zemanta
eHeziForest City Ratner Commercial Loan Sold to Blackstone and Wells Fargo

Comments 11

  1. I agree with Wall Street journal that the sale really comes as investors’ appetite just for the commercial assets has cooled the most recently given uncertainty in economy, pulling back after the prices increased in the very first half.

  2. Blackstone Group LP and Wells Fargo & Co. has made great efforts. They also bought a loan for their retail properties, actually that was not possible without the commercial loan.

  3. A hard money commercial loan is an advance for a commercial venture for which conventional funding is not available. In other terms, it is cash that is difficult to get elsewhere. The requirements for which such financial loans can be acquired consist of investment strategies, real estate asset products, development, business and market, re-financing and a lot of others.

  4. Merry Christmas! We are shoveling snow before we are raking leaves.Plows can’t get out, because streets are blocked with downed trees and power lines.Oh well, its just seven weeks to winter.

  5. don’t understand your comment…you seem to imply that Hezi looked to have readers infer that it is the same Lamont, and that is not the case. Who out there, except insiders such as you, even heard of Lamont
    Blackstone. The point of the story is the . You seem to be missing the point of the story is the sale of the loan. Either it happened or it did not. What distortion are you trying to imply

  6. wouldn’t think so…why don’t you just click on the link Hezi embedded in the story? Lamont’s firm was Urban Core something or other…

  7. I agree with Lies take a look at the east side of Yonkers it is unreal how dirty Yonkers has become. They worry about uncovering the river what a joke, in the summer the animals from south Yonkers will be taking baths in it, LMAO glad i got out.

  8. when is Yonkers gonna be sold off and be re-named “Shithole”
    its looks like a shit hole
    its treated like a “shithole”
    Ammicome is a shithole…..
    whichever elected mayor is pretty much a “shithole”….soooooooooooooooo
    lets just call it what it is…a cess pool of corrupt losers who steal, pillage, and lie…..A shithole!!!

Leave a Reply

This comment will be displayed anonymously. Your name and email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.