Penta Real Estate will hold an 80% stake in the joint venture, with Staycity Group owning the remaining 20%.
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A $100 million commercial mortgage-backed securities (CMBS) loan secured by a 351-key waterfront Hyatt Regency hotel in Jersey City, N.J., has been sent to special servicing due to an imminent maturity default, according to an alert from Morningstar Credit Analytics. The $100 million loan — which makes up portions of the CGCMT 2016-P5, CGCMT 2016-P6,…
Napa, Calif.-based residential broker Matt Ellingson is starting to head for the summit of what he describes as his “career Everest.” Ellingson is the senior sales director at Sotheby’s International Realty for its Stanly Ranch Residences Auberge Collection, a five-star luxury residential community spanning over 712 acres. SEE ALSO: New York’s Luxury Real Estate Ghost…
Paragon Bank has cut rates by 15bps across a selection of five-year fixed-rate buy-to-let mortgages. The cuts apply for landlords purchasing or remortgaging single self-contained properties (SSCs), houses in multiple occupation (HMOs) and multi-unit blocks (MUBs). The refreshed range includes products at 60%, 70%, 75% and 80% LTV, some limited edition and Paragon’s Tailored proposition…
Anthropic is opening a research preview of a shared specification for artificial intelligence agents to operate physical devices, specifically lab and manufacturing instruments, the company said in a Thursday (Aug. 27) announcement. The Model Hardware Standard (MHS) enables agents to operate instruments such as microscopes, liquid handlers and robotic arms; perform tasks ranging from routine…
National Bank of Canada is expanding its trust and estate planning business in Western Canada with the acquisition of British Columbia-based Truvera Trust Corporation. The bank announced that its subsidiary Natcan Trust Company, which operates under the National Bank Trust brand, has signed an agreement to acquire Truvera for an undisclosed amount. National Bank said…
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