News & Events

market
intelligence
briefing


May 22, 2018


Commercial Banking


Real Estate Finance

  • STRS Ohio pays $431.9M for sake at Related, Oxford New York development


    May 18 -
    The Related Companies and Oxford Properties Group recapitalized a portion of 10 Hudson Yards office tower with a $431.9-million investment from the Ohio state teachers’ pension fund. The State Teachers Retirement System of Ohio purchased a roughly 20% stake. The pension plan joins Allianz and the Kuwait Investment Authority as an investor in the 52-story, 1.7 million-square-foot tower.

    Read Article

  • Chestnut Holdings acquires retail portfolio in New York for $55.2M


    May 17 -
    Chestnut Holdings acquired a 19-building retail portfolio, which consists of low-rise retail properties and one vacant lot located throughout the Bronx, Brooklyn and Yonkers, for $55.2 million. The buildings collectively span 106,700 square-feet and offer 600,000 buildable square-feet. Marcus & Millichap brokered the deal. The seller was B&K Realty Management Corporation.

    Read Article

  • AB Capstone acquires stake in New York retail assets for $30.5M


    May 18 -
    AB Capstone purchased a 70% stake in two of New York REIT's retail properties for $30.5 million. The properties, 1100 Kings Highway and 2067 Coney Island Avenue in Gravesend, span a combined 43,000 square-feet.

    Read Article


Commercial Bankruptcy

  • Cambridge Analytica files for Chapter 7 in wake of Facebook scandal


    May 18 -
    Cambridge Analytica filed for Chapter 7 bankruptcy in the U.S. after suffering a sharp decline in business following allegation the company improperly used data of 87 million Facebook users beginning in 2014. According to court reports, the company reported assets between $100,001 and $500,000 and liabilities between $1 million and $10 million.

    Read Article

  • Enduro Resource Partners files for Chapter 11


    May 15 -
    Enduro Resource Partners filed for voluntary Chapter 11 proceedings, with plans for an asset sale. The company plans to continue operations during the process and reached an agreement with its first lien lenders to utilize their cash to fund day-to-day operations. Enduro also entered into three stalking horse purchase agreements and expects to begin the sale process soon.

    Read Article

  • Rockport files for Chapter 11, plans sale to Charlesbank


    May 14 -
    Shoe maker Rockport filed for Chapter 11, citing the current retail landscape and a separation from former owner Adidas as the primary reasons. The company is planning to sell ownership to private equity firm Charlesbank, which will evaluate Rockport’s North American retail operations and determine whether it will seek to buy some of those locations. The company has also lined up $20 million in financing from its current lenders to continue operations through the process and has an existing $60 million credit facility that it can access through the sales process.

    Read Article