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Sale of Macklowe’s GM Building Looking Likely

May 20, 2008

Tweet After many months of speculation and the fact that Macklowe went into default on┬áthe short term loans he took to acquire a seven building portfolio from Blackstone (some details here), Macklowe seems to have lined up some buyers for his landmark GM building (which is also home of the Apple “Glass Cube” Store), along […]

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Macklowe Likely To Forfeit His 7-Property New York City Portfolio

February 6, 2008

Tweet After taking control of a $7B portfolio of properties from Equity Office last year, Harry Macklowe’s financing situation is rumored to have led to a deal to relinquish control of his properties to his lender, Deutsche Bank. His financing package, when he acquired the buildings, only required him to put $50M worth of equity […]

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Details of Macklowe’s EOP NYC Portfolio Acquisition Shed Light on Underwriting Standards

September 25, 2007

Tweet There have been a lot of articles over the course of the past month and a half outlining the tightening standards lenders are enforcing for both commercial and residential property transactions. Many of us in the business were aware of acquisitions taking place involving loan-to-value and debt-service coverage ratios which deviated from what credit […]

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