Clarion Partners and MHP Real Estate Services closed on a $470 million acquisition of 180 Maiden Lane, reports Commercial Property Executive. Sahara India Pariwar, the owner of The Plaza hotel, has mortgaged it and two other properties for $1.05 billion to help pay bail for founder Subrata Roy, claims Bloomberg Businessweek. Real estate finance professionals are concerned about risky underwriting and lowered appraisal standards, according to Commercial Observer. These are among todays must reads from around the commercial real estate industry.
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