For instance, many real estate agents will include home staging as part of the contract, but some might add extra fees for these sorts of services. Are They Part of MLS? The Multiple Listing Service, or MLS, is a nationwide database of houses on the market, regardless of which company is selling the home.
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Ares Commercial Real Estate Corporation Closes $37 Million Mezzanine Loan on Downtown Chicago Property
Markets closed Ares Commercial Real Estate Corporation Closes $37 Million Mezzanine Loan on Downtown Chicago Property ACRE Has Originated / Co-Originated Over $515 million of Commitments Year-To-Date with Significant Investment Capacity to Make New Loans Press Release: Ares Commercial Real Estate Corporation Thu, Sep 12, 2013 8:00 AM EDT -0.0100 CHICAGO–(BUSINESS WIRE)– Ares Commercial Real Estate Corporation ( ACRE ) announced today that it originated a $37.0 million mezzanine loan collateralized by the office and associated parking of a 49-story mixed-use property in the central business district of Chicago. The proceeds of this recently closed transaction were used to refinance the property and fund certain property-level improvements. The property is owned by a joint venture between Walton Street Capital and GlenStar Properties. This transaction reflects our ability to finance complex properties and meet the expanding needs of our clients, said Bruce Cohen, President and Chief Operating Officer of Ares Commercial Real Estate Corporation. We are delighted to back Walton Street Capital and GlenStar Properties as they execute their business plans. These recent transactions demonstrate the execution of our capital deployment goals since our equity raise, and we continue to have meaningful investment capacity to make new loans and grow our earning assets, said Todd Schuster, Co-Chief Executive Officer of Ares Commercial Real Estate Corporation.
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Commercial Real Estate Lenders and Servicers: Changing Faces
But if the special servicer is jockeying for ownership of the distressed asset, they have a clear conflict of interest with the my website borrower and maybe also the bondholders.” When the Special Servicer’s ulterior motive to foreclose and subsequently purchase the asset, collides with the borrower’s goals, the result can be disastrous for the borrower. Every borrower should employ experts who can utilize the right tools to secure the best refinance or restructuring possible. Many borrowers don’t have the specific knowledge to implement a refinance or restructuring plan on their own, and most borrowers will need to hire a team of savvy real estate and CMBS professionals. Servicers play an important part in the securitization process, but borrowers need to fully understand all of the major players, their roles, and their motives.
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