Why fight City Hall when you can make real estate deals with it instead? The City of New York was active in the property market last week as both a buyer and seller, scooping up land for schools in Inwood while selling development rights in Greenpoint. The week’s largest deal was for a homeless shelter in Hell’s Kitchen sold by Triumph Hotels co-founder Shimmie Horn for just over $25 million. The building is operated by
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In the commercial mortgage-backed securities world, conduit loans have always been the bread and butter of the market. But while CMBS issuance has come roaring back this year after a rough 2020, conduit loan issuance — which involves long-term refinancing loans that get packaged with other loans, securitized and sold to investors — is still lagging. Two other types of CMBS loans have accounted for the bulk of new issuance this year: commercial real estate
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