Company News

Iron Hound Closes Deals on Upper East Side Hotel Refi and Harlem Development

 The New York-based real estate advisory firm Iron Hound Management Company has arranged two recent loans for a hotel refinancing on the Upper East Side and a ground-up apartment and retail construction project in Harlem, Mortgage Observer Weekly has first learned. 

Iron Hound Management off to a fast start in 2014

CLOSES SIX TRANSACTIONS TOTALLING $219 MILLION IN FIRST WEEKS OF NEW YEAR

(NEW YORK, NY – FEBRUARY 24, 2014) 
- Iron Hound Management Company, LLC, a real estate investment company specializing in commercial debt and equity transactions and commercial loan restructuring, has closed six deals totaling nearly $219 million thus far in 2014.

Press Release: Arranges over $400M in loan modifications and refinancing in two New York City deals

Properties Run the Gamut from Brooklyn-Based Industrial Space to Midtown Office Assets

(NEW YORK – SEPTEMBER 25, 2013) - Iron Hound Management Company, LLC, a real estate investment company specializing in commercial debt and equity transactions and commercial loan restructuring, recently completed over $400 million in loan modifications and refinancing on two New York-based properties. The announcement was made by Robert Verrone, principal of Iron Hound Management Company.

Press Release: Restructuring $45M loan for 101 West Ohio Street in Indianapolis, IN

Company Strongly Committed to Providing Midwest Community With Creative Capital Solutions

(INDIANAPOLIS, IN – OCTOBER 2, 2013) - Iron Hound Management Company, LLC, a real estate advisor specializing in commercial loan restructuring, has negotiated and restructured a $45-million securitized loan on behalf of Amerimar Enterprises on 101 West Ohio Street in Indianapolis, IN. The announcement was made by Robert Verrone, principal of Iron Hound Management Company.

BNY, Verrone Teaming Up on Conduit Shop

Robert Verrone, one of the country's biggest lenders before the market crash while co-head of commercial real estate at Wachovia, is teaming up with BNY Mellon to form a conduit operation.

BNY is allocating $500 million of its balance sheet for the program, which will originate mortgages of $2 million to $75 million on all property types. The goal is to write $1 billion of loans in the first year and double that amount in the second year.

Press Release: Refinancing for Page Plaza Shopping Center in Fort Myers, FL

Experts Advise Sitt Asset Management in Placement of New $7.8 Million Loan

(FORT MYERS, FL – NOVEMBER 7, 2013) - Iron Hound Management Company, LLC, a real estate investment company specializing in commercial debt and equity transactions and commercial loan restructuring, recently advised Sitt Asset Management in refinancing the debt for the property known as Page Plaza, a 95,414 square foot retail center, located in Fort Myers, Florida. The announcement was made by Robert Verrone, principal of Iron Hound Management Company.

Wachovia’s Big City Splash Has a Sobering Aftermath

By CHRISTINE HAUGHNEY and TERRY PRISTIN 

 
In yet another concrete sign of trouble in the commercial real estate market, Wachovia, the nation’s fourth-largest bank, announced on Tuesday that it would be taking write-downs of more than $1 billion for commercial loans for the second half of last year. That sum includes $488 million in previously disclosed write-downs for the third quarter. 
 

Distressed loans in CMBS may top $60 bln this year

By Al Yoon

Feb 22 (Reuters) - The amount of distressed loans in commercial mortgage-backed securities may more than double to at least $60 billion by year-end, creating a logjam that could hinder the U.S. economic recovery, Credit Suisse said on Monday.

The rise in troubled loans in the $700 billion CMBS market accelerated to $2.7 billion a month last quarter, compared with about $1.4 billion a month in the first three months of 2009, Credit Suisse analysts said in a report.

The Tough Guy of Big Mortgages Boosts Wachovia

Mr. Verrone Bumps Off Rivals In $50 Million-Plus Loan Niche;  Pistachio Shells on Park Avenue
By CHRISTINE HAUGHNEY