Moinian Group Secures $105M Refi for Manhattan Property

Multi-Housing News | February 17, 2020

The Moinian Group has secured a $105 million loan to refinance Oskar, its luxury residential building in Manhattan. The firm completed the construction of the property in 2019 under a loan of $103 million issued by U.S. Bank, according to Yardi Matrix. The new loan, which will be used to replace the existing construction loan debt, will be issued by Bank of China at a fixed rate of 2.8 percent for a 10-year period. Oskar is located at 572 11th Ave. in the Hell’s Kitchen neighborhood. The building comprises 183,000 square feet consisting of 164 units and a full block of retail occupied by Starbucks and The Learning Experience. The community includes a fitness center, business center, clubhouse, basketball court, lobby complete with sky-lit reflective pond, lounge, private sundeck and rooftop space designed in collaboration with CetraRuddy, as well as a landscaped terrace by HMWhite.

Spotlight

Dan Mullins and Kelly Wandelear with Altus Real Estate Group share their passion and expertise in representing buyers and sellers of horse properties.

Spotlight

Dan Mullins and Kelly Wandelear with Altus Real Estate Group share their passion and expertise in representing buyers and sellers of horse properties.

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REAL ESTATE TECHNOLOGY

MIAX to Launch Suite of BRIXX™ Commercial Real Estate Futures on MGEX

MIAX | September 16, 2021

MIAX, creator and operator of high-performance securities exchanges, products and services, will launch cash-settled futures contracts on BRIXX™ Commercial Real Estate (CRE) Indexes developed by Advanced Fundamentals. The first contract to be listed will be the BRIXX Retail Index futures contract which is expected to begin trading on October 4, 2021. Three additional BRIXX CRE Index futures are expected to be listed in the fourth quarter of 2021. Cash-settled options on the BRIXX CRE Indexes will launch on MIAX, also targeted for fourth quarter of 2021. The launch of the futures and options contracts remain subject to regulatory approval. BRIXX futures and options will provide investors with targeted exposure to the $16 trillion commercial real estate market, including the Residential, Retail, Office and Hospitality commercial real estate sectors. BRIXX CRE Indexes measure real-time real estate returns and are priced using real-time public market data aggregating over $750 billion in property values. The design also allows the BRIXX CRE Indexes to be priced in terms that real estate professionals know and understand such as price per room key (Hospitality), or price per square foot (Residential, Office, Retail). We are pleased to launch the new BRIXX CRE futures, which are based on Advanced Fundamentals' suite of index products that measure real estate prices without the pricing lag associated with traditional CRE indexes, These products provide professional real estate investors with an innovative tool that affords real time access and synthetic exposure to the physical real estate market -Thomas P. Gallagher, Chairman of MGEX and Chairman & CEO of MIAX. Cash-settled futures contracts will be listed on MGEX via the CME GLOBEX® platform and will be cleared by MGEX, a wholly owned subsidiary of MIAX's parent holding company, Miami International Holdings. We believe real estate funds and institutional professionals will be attracted to BRIXX futures and options and that the products have the potential to provide an entirely new asset class of commercial real estate derivatives to the industry. Advanced Fundamentals has devoted significant resources to the design of the BRIXX CRE indexes, incorporating considerable feedback from the industry throughout the design process and we look forward to launching this innovative suite of derivatives for the industry. - John Smollen, Executive Vice President and Head of Exchange Traded Products and Strategic Relations at MIAX About MIAX MIAX's parent holding company, Miami International Holdings, Inc., owns Miami International Securities Exchange, LLC, MIAX PEARL, MIAX Emerald, LLC (MIAX Emerald®), the Minneapolis Grain Exchange, LLC (MGEX), and the Bermuda Stock Exchange. MIAX, MIAX Pearl and MIAX Emerald are national securities exchanges registered with the Securities and Exchange Commission (SEC) that leverage MIAX's industry-leading technology and infrastructure to provide U.S. listed options trading to their member firms. MIAX serves as the exclusive exchange venue for cash-settled options on the SPIKES® Volatility Index (Ticker: SPIKE), a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY). In addition to options, MIAX Pearl facilitates the trading of cash equities through MIAX Pearl Equities™. MGEX is a registered exchange with the Commodity Futures Trading Commission (CFTC) and is a Notice Registered Securities Futures Product Exchange with the SEC. MGEX serves as the exclusive market for a variety of products, including Hard Red Spring Wheat and SPIKES Futures. In addition, MGEX is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) under the CFTC, providing DCM, DCO and cash market services in an array of asset classes. The BSX is a leading electronic international securities market regulated by the Bermuda Monetary Authority (BMA) specializing in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants and insurance linked securities. A full member of the World Federation of Exchanges and affiliate member of the International Organization of Securities Commissions, the BSX is globally recognized, including by the SEC.

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INVESTMENTS

Capital Square 1031 Acquires Newly Built MOB and Surgery Center in Arizona for an All-Cash/No Debt DST Offering

Capital Square 1031 | February 09, 2022

Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for Section 1031 exchange and other accredited investors, announced today the acquisition of a new purpose-built medical office building and surgery center in Yuma, Arizona. The property was acquired on behalf of CS1031 MOB AZ II, DST, a Reg. D private placement investment offering, in an all cash/no debt offering. Medical facilities such as this are some of the most desirable assets in the nation, The icing on the cake -- this facility is newly constructed, with a 15-year triple net lease to a strong regional medical group that is growing rapidly. Capital Square believes that this investment will generate stable cash flow, growth and appreciation over the holding period for investors who seek an all cash/no debt investment." Louis Rogers, founder and chief executive officer. Located at 2145 W. 28th St., the facility was constructed in 2021 for Comprehensive Integrated Care, which executed a 15-year, triple-net lease that is personally guaranteed by the founding physician. The lease includes two five-year extension options. The facility is situated in Tuscany Plaza, Yuma's premier medical and professional center. Tuscany Plaza houses more than two dozen specialty medical providers and is approximately one mile from the 406-bed Yuma Regional Medical Center.1 Comprehensive Integrated Care (CIC) was founded in 2013 and has expanded to offer 10 treatment centers located in Arizona, Nevada, Utah and New Mexico. CIC features a team of endovascular and vein specialists partnering with cardiologists and primary care doctors to provide minimally invasive procedures when traditional surgery is not an option. This property is leased to a strong tenant that has been expanding its practice to now include 10 treatment centers – another of which was acquired earlier this year by Capital Square for DST investors, Healthcare-related real estate assets such as this are attractive investment opportunities due to the compelling demographic shift that is underway in this country, with a ballooning senior population that is demanding ever-greater medical care that is increasingly being provided via out-patient facilities like those Capital Square acquires on behalf of its investors." Whitson Huffman, chief strategy and investment officer. Since its founding in 2012, Capital Square has acquired 146 real estate assets for over 3,800 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code and other investors seeking stable cash flow and capital appreciation. About Capital Square Capital Square is a national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges and qualified opportunity zone funds for tax deferral and exclusion. Since 2012, Capital Square has completed more than $4.5 billion in transaction volume. Capital Square's executive team has decades of experience in real estate investments. Its founder, Louis Rogers, has structured hundreds of investment offerings totaling in excess of $5 billion. Capital Square's related entities provide a range of services, including due diligence, acquisition, loan sourcing, property/asset management, and disposition, for a growing number of high net worth investors, private equity firms, family offices and institutional investors. Since 2017, Capital Square has been recognized by Inc. 5000 as one of the fastest growing companies in the nation for five consecutive years. Additionally, in 2021, the company was ranked 101st on the list of Inc. 5000 Washington D.C. Metro's Fastest-Growing Private Companies. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense's list of fastest growing companies. Capital Square was listed by Virginia Business on their "Best Places to Work in Virginia" report in 2019 and 2021 as well as on their "Fantastic 50" reports in 2019 and 2020.

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MARKET OUTLOOK

Twain Financial Partners Provides C-PACE Financing for Nova Apartments

Twain Financial Partners | November 01, 2021

Twain Financial Partners is pleased to announce the successful Commercial Property Assessed Clean Energy (C-PACE) financing in connection with the ground-up construction of 251-unit apartment development in Milwaukee, Wisconsin. Twain's funding will provide state-of-the-art clean energy improvements to the building, which will feature one-, two-, and three-bedroom apartments and a full suite of amenities including a fitness center, bicycle storage, EV charging stations, storage rooms, a clubhouse, outdoor pool deck, among others. Plans also include 2,200 square feet of street-level commercial space. New Land Enterprises (New Land) serves as developer for this project. New Land is a Milwaukee-based development, acquisition, and management firm with a decades-long track record of thoughtful place-making; efficient, smart design; and expert management. Like all our developments, we hope we're contributing positively to the built environment and the community of residents near downtown and in surrounding neighborhoods, We're proud of the work we've done and are thankful for the collaboration of our various finance partners, including Twain Financial, Huntington Bank, and Old National Bank. - Tim Gokhman of New Land. Twain is very proud to be a part of this transaction, New Land is continuing to set a high watermark for our collective expectations around energy consumption – even among comparable PACE transactions. Moreover, we have thoroughly enjoyed the partnership with New Land and look forward to future projects. - Erik Lintvedt, Business Development Officer at Twain. About Twain Financial Partners: Twain Financial Partners is an investment management firm located in St. Louis, Missouri with over $4 billion in assets under management within the public-private partnership sector. The firm works with a wide variety of investment types, specializing in tax credit, structured debt, and real estate transactions. Twain works closely with financial institutions and corporations to structure and manage investments that offer both attractive economic return and social benefits.

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