Finance  Lending
Highwoods Closes on $162M in Secured Loans
Aug 07, 2009

Highwoods Properties Inc. closed on two secured loans totaling $162 million, one a $115 million, six-and-a-half-year loan provided by New York Life Insurance Co. at a fixed rate of 6.875 percent, secured by a pool of 10 assets in Nashville, Raleigh and Tampa, and the other a $47.3 million, seven-year loan from Western-Southern Life Assurance Co. at a fixed rate of 7.5 percent, secured by the office portion of RBC Plaza in Raleigh. Highwoods used a portion of the proceeds to pay off in full the $91 million outstanding under its $450 million unsecured credit facility.


 
Recent Lending Headlines
AECOM Signs 51,300-SF Lease at Atlanta’s One Midtown Plaza
May 19, 2009
AECOM has signed a 11-year lease for 51,337 square feet of office space at Atlanta’s One Midtown Plaza.
Orinda, Octagon Eye Strong Area Fundamentals for Atlanta Conversion Project
Jun 03, 2009
The nationwide downturn in employment is chipping away at demand in the apartment market, but there are still those communities here and there where the call for more rental accommodations remains relatively strong. To that end, Orinda Corp. and Octagon Capital Partners, having found just such a community, have acquired a 350,000-square-foot office building in a college-laden district of Atlanta for a $35 million apartment conversion project.
Post Sells Atlanta, Fairfax Properties for $100 Million
Jul 24, 2009
Post Properties Inc. sold Post Ridge in Atlanta to a locally based entity affiliated with Centennial Holding Company L.L.C. for $44.8 million following Monday's sale of Post Forest in Fairfax, Va., to an entity affiliated with Pantzer Properties Inc. for $57.5 million. CB Richard Ellis Inc. brokered the most recent transaction, while the Post Forest deal was brokered by Holliday Fenoglio Fowler L.P. The REIT expects to report net gains of approximately $54 million relating to the sales.
Alter Plans 180-Acre Industrial Project Near Atlanta
Jul 09, 2009
The Alter Group has announced plans to acquire King Mill, a 180-acre site in Henry County, Ga., south of Atlanta, where it will develop a two-phase industrial park.
Turner to Build $93M Atlanta Office for CDC
Jul 20, 2009
Turner Construction Co. has been selected by the Centers for Disease Control and Prevention to provide design/build services for a $93 million, 311,000-square-foot office complex.
Harrah's Cherokee Kicks Off Next Phase of $633M Expansion Despite Lackluster Gaming Market
Jul 13, 2009
With the recession in full swing, fewer people are taking chances at the gaming tables, but that is not stopping the Eastern Band of the Cherokee Nation from moving forward with its $633 million expansion of the Cherokee Casino & Hotel in Cherokee, N.C. Tribal leaders just broke ground on the 532-room hotel segment of the property's massive upgrade.
Cobalt Capital Takes 1.7MSF Atlanta Industrial Portfolio
Jun 25, 2009
Cobalt Capital Partners L.P., through its Cobalt Industrial REIT II affiliate, has acquired a 1.7 million-square-foot, nine-building industrial portfolio in Atlanta.
 
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