Owners Quality Capital and Caerus Group plan to renovate and expand the three adjoining buildings. NGKF Capital Markets’ Jordan Roeschlaub and Daniel Fromm brokered the loan.

NGKF Capital Markets has arranged a $59 million financing for three mixed-use buildings located in Lower Manhattan’s Greenwich Village. LoanCore Capital provided the mortgage, which bears a variable interest rate, paying off a $32 million loan that helped finance the owners’ acquisition of the property in 2015 for a reported $59.7 million, public records show. The assets, located at 827 Broadway, 831 Broadway and 47 E. 12^th St., are jointly owned by Samson Klugman’s Quality Capital and Leo Tsimmer’s Caerus Group. NGKF’s Jordan Roeschlaub and Daniel Fromm brokered the loan…

• Only the wealthiest homeowners would benefit from itemizing
• Administration says the average family would be better off

U.S. Treasury Secretary Steven Mnuchin has taken pains to stress that the Trump administration isn’t out to kill Americans’ beloved mortgage-interest tax deduction — but a side effect of the plan could turn it into a perk for only the wealthy.

• Equity market showing less strain than other components
• Economic growth hit can be limited if stress dissipates fast

With China’s leadership focused anew on curbing the economy’s leverage, Goldman Sachs Group Inc. analysts are rolling out a new gauge of stress in the country’s financial markets.

With corporate bond sales being canceled, stocks sliding and government debt yields climbing in recent months, it’s no surprise that the measure shows an increase in strain. But the financial-stress index, or FSI, has dropped from the recent high in late 2016 and early 2017, and might not necessarily translate to weakness in the economy, Goldman analysis showed…

• Company said to struggle to raise funds as market matures
• Other public companies in fin-tech have seen shares decline

Earnest Inc., the financial-technology startup backed by venture capital firms including Andreessen Horowitz, is looking for a buyer as the market for peer-to-peer lending matures, and it struggles to raise new funds.

The San Francisco-based company, which offers student loan refinancing as well as personal loans, is shopping itself for about $100 million, according to people familiar with the matter…

Peer-to-Peer Lending Startup Earnest Said to Look for a Buyer

JPMorgan Chase & Co. agreed to pay about 125 million euros ($137 million) for an office building under construction in Dublin, according to a person with knowledge of the plan. The person asked not to be identified because the price hasn’t been been announced publicly.

The bank’s Irish unit is buying the 200 Capital Dock building from real estate firm Kennedy Wilson, Toronto-based Fairfax Financial Holdings Ltd. and Ireland’s National Asset Management Agency, Kennedy Wilson said in a statement on Monday. The building, which measures about 130,000 square feet (12,000 square meters) and will be able to accommodate more than 1,000 workers, is due to be finished in the third quarter of 2018…

• Spending will support efforts outside of beer, such as tea
• Company to invest in distribution and its 12 biggest breweries

The maker of Budweiser, facing more competition in America from craft brews and cocktails, is spending billions to fight back.

Anheuser-Busch InBev NV will devote $2 billion in U.S. capital spending to bolstering its flagship brands and improving distribution. The money also will help support the company’s forays into “near beer,” alcoholic sparkling water, and other products — like tea — that are far afield from its original mission…

Snap Inc. keeps clawing back losses from last week’s 21 percent swoon, welcome news to any of the institutional owners now detailing stakes in the messaging service — as long as they didn’t bail in the downdraft.

Fidelity Management & Research, New York-based hedge fund Coatue Management and Singapore state investment firm Temasek Holdings Pte were among those listing positions with the Securities and Exchange Commission in filings today. Some were started before Snap went public. Fidelity and Coatue each reportedly participated in pre-IPO funding rounds…

Snap’s Rebound Accelerates After Big-Name Funds Disclose Positions

• Fund’s first close expected to be wrapped up in 2-3 weeks
• Mubadala to launch two venture capital funds next month

Abu Dhabi’s Mubadala Investment Co. plans to invest as much as $15 billion in SoftBank Group Corp.’s Vision Fund and start two new venture capital funds to build its technology holdings.

The SoftBank fund will be “wrapped up” in two to three weeks with about $95 billion of commitments, according to Ibrahim Ajami, head of venture capital at Mubadala Capital, the sovereign wealth fund’s investment arm. Mubadala plans to make its investment over the next five years, he said…

Plans for the new mixed-use project include a 26-story, Class A office tower; 235,000 square feet of high-end retail, dining and entertainment; as well as a 34-story residential building.

Ashford Hospitality Trust Inc. has acquired the Nashville Convention, the Renaissance Nashville hotel’s conference facility, from the Metropolitan Government of Nashville and Davidson County and is planning a $400 million redevelopment of the space.

Plans for the new mixed-use project include a 26-story, 385,000-square-foot Class A office tower, 235,000 square feet of high-end retail, dining and entertainment (including the National Museum for African American Music), a 34-story residential building containing over 350 rental units and more than 2,000 parking spaces…

• Central bank governor echos finance minister’s reassurances
• High housing prices remain concerns, they tell Globe and Mail

Bank of Canada Governor Stephen Poloz said Home Capital Group Inc.’s troubles are unique to the mortgage lender and that he sees no evidence they’re spreading to other parts of the country’s financial system.

It’s “pretty clear’’ that Home Capital’s situation is “idiosyncratic,” Poloz told the Globe and Mail in a weekend interview in Italy. His comments echo Canadian Finance Minister Bill Morneau’s remarks in the newspaper a day earlier. Morneau said Home Capital’s risk has been contained and that the financial system is working as it should…

• Embattled lender includes ‘going concern’ reference in report
• Management warned of ripple effects if company doesn’t recover

Beleaguered Canadian mortgage lender Home Capital Group Inc. posted its first-quarter results after the close of markets Thursday — and the “slight dip” in profit and revenue was the last thing on anyone’s mind.

The company’s shares are down as much as 20 percent after management said during a conference call Friday that asset sales aren’t likely to happen any time soon and more collateral needs to be pledged than expected. In the quarterly report, the company also confirmed what was widely speculated, they share concerns about Home Capital’s ability to continue as a going concern…

A venture capital firm backed by the Chinese government is aiming to invest up to $500 million into U.S. and European technology startups.

Silk Ventures, which has offices in Silicon Valley, London, Shenzhen, and Beijing, will put a particular focus on fintech, artificial intelligence, medical technologies and startups specializing in related sciences.

“The mission is to connect technology companies from Europe and the United States, Israel as well, to the Chinese market,” said Silk Ventures Founding Partner Angelica Anton in an interview…

China-Backed Fund Raises $500 Million for U.S. and EU Startups

• FHFA Director Watt says investor confidence would be eroded
• Watt also rebuffed ‘recap and release’ during Senate testimony

The head of Fannie Mae’s and Freddie Mac’s regulator told lawmakers Thursday that he can’t take the risk of letting the companies run out of capital.

Investors in Fannie’s and Freddie’s mortgage bonds might begin to doubt the safety of their holdings if the companies need more bailout money, Federal Housing Finance Agency Director Mel Watt said at a Senate Banking Committee hearing. Such a scenario could disrupt the housing market and cause rates to rise, he said…

Already the largest owner and operator of medical office buildings in the U.S., Healthcare Trust added 592,000 square feet of space in Arizona and Southern California.

Healthcare Trust of America Inc. has closed on its previously announced medical office building portfolio acquisition, buying 11 medical offices for $150 million.

Already the largest owner and operator of medical office buildings in the U.S., Healthcare Trust added 592,000 square feet of space in Arizona and Southern California. The portfolio consists of the 168,000-square-foot McAuley Medical Center, located within the St. Joseph’s Hospital and Medical Center campus in downtown Phoenix and the others are primarily located on Dignity Health (Rated A3) campuses in Phoenix and Southern California…

Canada’s low interest rates are feeding risky behavior in financial markets and central bank policy makers should cool things off by signaling they will tighten, according to Bank of America Corp.

The credit downgrade of six Canadian banks and troubles at mortgage lender Home Capital Group Inc. are reigniting concern the nation’s housing market is a bubble in danger of bursting, and central bank interest rates remaining too low for too long heighten the risk of a financial crisis, Carlos Capistran, an economist in New York at Bank of America, wrote in a research report…

• Firm’s move follows concerns over mortgage lender Home Capital
• Banks still have strong capital and liquidity buffers, it says

Canada’s dollar and bank bonds declined after Moody’s Investors Service downgraded the nation’s banks for the first time in more than four years, signaling that soaring household debt combined with runaway housing prices leave the lenders more vulnerable to losses.

The ratings firm lowered the long-term debt and deposit ratings one level on Toronto-Dominion Bank, Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada and Royal Bank of Canada Wednesday. The move left TD with a long-term debt rating of Aa2, the third-highest level. Moody’s lowered the other five to A1, the fifth-highest. The outlook is negative on all six lenders…

• Improbable Worlds’ software creates virtual reality simulation
• Funding values London company at more than $1 billion

SoftBank Group Corp. is leading a $502 million investment in Improbable Worlds Ltd., a London-based virtual reality startup, in one of the U.K.’s largest venture capital deals.

The valuation wasn’t disclosed. But SoftBank is buying a non-controlling stake, which would mean Improbable is worth at least $1.04 billion. The deal would rank as the fifth-largest U.K. venture investment in the past decade, according to data compiled by Bloomberg…

SoftBank Leads $502 Million Investment in U.K. Tech Startup

SAN FRANCISCO — When Snap listed its shares on the New York Stock Exchange in March, the floor of the exchange was festooned in the company’s signature yellow. Family members of Snap executives posed for photographs; some wore the company’s video-recording Spectacles. And as Snap’s two 20-something founders rang the opening bell, the crowd — including one of the founder’s fathers and a supermodel fiancée — applauded.

Yet just two months into its life as a public company, Snap’s celebration may already be ending…

Snap’s $2.2 Billion Loss Caps Bumpy First Months as a Public Company

John Mackey, the co-founder of Whole Foods Market, took the helm as sole chief executive last year in a bid to single-handedly revive the upscale grocer’s fortunes.

On Wednesday, facing growing pressure from restless shareholders, he brought in reinforcements.

A month after an activist hedge fund took a stake in Whole Foods and began to agitate for change, the company unveiled a sweeping overhaul of its board, replacing five directors, naming a new chairwoman and bringing in a new chief financial officer. It also laid out plans to improve operations and cut costs…

Whole Foods, Facing Pressure Restless Investors, Shakes Up Board

• Street Cap posts 1Q loss; HCG due to report earnings Thursday
• HCG liquid assets C$1.01 billion May 9 vs C$1.1 billion May 8

Street Capital Group Inc. said it’s treating recent turbulence in the Canadian mortgage lending market as an opportunity, while embattled rival Home Capital Group Inc. continues to see deposits dwindle.

“The issues faced by our mortgage lending peers are not representative of the risk we face today at Street Capital,” Chief Executive Officer Ed Gettings said Wednesday in a conference call. He didn’t elaborate on the opportunities he sees, but separately said the firm plans to expand into uninsured mortgages starting this month and is evaluating non-government sponsored residential mortgage-backed securities…

• Publisher will sell smaller, ‘non core’ assets in portfolio
• Investor demands details of strategic plan on earnings call

Time Inc. is planning to sell some magazines or other properties as the struggling publisher tries to push ahead with a digital strategy and move past months of talks with potential acquirers.

The owner of Sports Illustrated and People will look to offload “relatively smaller” titles in its portfolio and other “non-core” assets, Chief Executive Officer Rich Battista said Wednesday on a conference call. He didn’t name the assets…

Time Inc. to Sell Assets Amid Push to Move Beyond Magazines

• Up to 1% of car loan applications include deception, firm says
• Trouble comes after rapid growth in U.S. car loans since 2010

Borrower fraud in U.S. auto loans is surging, and may approach levels seen in mortgages during last decade’s housing bubble, according to a startup firm that helps lenders sniff out bogus borrowers.

As many as 1 percent of U.S. car loan applications include some type of material misrepresentation, executives at data analytics firm Point Predictive estimated based on reports from banks, finance companies and others. Lenders’ losses from deception may double this year to $6 billion from 2015, the firm forecast…

• Pay consultant Johnson Associates issues projections for 2017
• Takeover advisers and equity traders may see rewards decline

Wall Street bond traders who survived years of slumping revenue are on track to receive some of the financial industry’s biggest bonus hikes for 2017 as banks increase total incentive payouts the most this decade.

That’s the initial projection from compensation consultant Johnson Associates Inc. after revenue from fixed-income trading climbed at several big U.S. banks in the first quarter. People in those operations will probably see annual bonuses jump 10 percent to 15 percent. Their colleagues who underwrite securities offerings are set for raises of 10 percent to 20 percent…

• AMP’s Naeimi moves funds to Japan stocks from emerging markets
• Nikkei 225 surged 8.2% from mid-April as global concerns ease

Nader Naeimi can’t ignore it any longer after Japanese stocks added more than $210 billion in value in less than a month, sending the Nikkei 225 Stock Average within touching distance of 20,000.

The head of a dynamic investment fund at AMP Capital Investors Ltd. has been pulling money from emerging markets to invest more in Tokyo shares. His logic is simple: the market is undervalued after lagging behind peers for much of 2017, the yen is set to fall, and the concerns that held the Nikkei 225 back earlier this year have receded…

The Swiss private bank and asset manager owned by billionaire Joseph Safra has hired Michael Montebaur from Joh. Berenberg Gossler & Co. to help create a real estate fund for wealthy investors, according to two people with knowledge of the matter.

The new fund, run by J. Safra Sarasin Holding Ltd.’s European asset management unit, will buy commercial properties in major international cities including London, the people said, asking not to be identified because the information is private. Montebaur was appointed as an investment director at the unit, they said.

• Levy on big five banks to raise A$6.2 billion over four years
• Charge is equal to about 5% of banks’ profits, analysts say

Australia’s biggest banks fell for a second day in Sydney trading on concern earnings will be hit after the government slapped them with a A$6.2 billion ($4.6 billion) levy.

The government will raise the money from the nation’s five largest banks over the next four years by imposing a 6 basis-points levy on liabilities over A$100 billion, Treasurer Scott Morrison said in the budget released Tuesday in Canberra. It won’t apply to superannuation funds or insurance companies…

Lawyers suing over the Bahamas disaster call the app maker’s $90 million valuation “untethered” to reality.

Before the now-infamous Fyre Festival collapsed a few weeks back, the company behind it—maker of a mobile phone app you can use to hire entertainers for your club, concert, or party—said it was worth $90 million, according to a document obtained by Bloomberg News.

Fyre Media Inc. faces a half-dozen lawsuits from less-than-satisfied customers over the disastrous music event in the Bahamas. Now that the fallout is beginning to land in court, details are coming out about the company behind it…

Fyre Festival $100 Million Lawsuit Targets Investors Behind the Scenes

• Mortgage firms see programs as a way to help low-income buyers
• Proposals outlined in plans for affordable housing challenges

Fannie Mae and Freddie Mac may soon begin to provide financing for buyers of manufactured homes, according to draft plans released on Monday.

The move is part of an effort by the mortgage-finance giants to ease burdens on low-income borrowers, many of whom turn to factory-built housing as a inexpensive alternative to traditional residences. At the same time, it could also bring criticism from people concerned about the riskiness of lending for the mobile homes, which often sit on leased land and can depreciate quickly in value…

• At least two uninsured deals on hold as market weighs outcome
• Investors want to see how Home Capital situation resolves

Trouble at lender Home Capital Group Inc. is stalling efforts to create what would be the closest thing Canada has to a subprime mortgage bond market.

At least two bond sales are on hold in Canada as investors wait to see how the Home Capital situation shakes out, according to people with knowledge of the matter. While discussions on both bond offerings were in early stages, one of the deals would be backed by loans from MCAP Corp., and the other, marketed by Royal Bank of Canada, with loans from Home Capital and Equitable Group Inc., said the people, who asked not to be identified because the talks are private…

Home Capital Group Inc. suspended its dividend and added two former pension fund executives to its board as the mortgage lender tries to win back shareholder trust following accusations that it misled investors over fraudulent loan applications.

The Toronto-based lender, facing a run on deposits, said it will suspend its quarterly dividend to “manage liquidity,” according to a statement Monday. The company’s high-interest savings accounts, used to fund its mortgages, have slipped to C$192 million ($140 million), from almost C$2 billion five weeks ago. The guaranteed investment certificates, or GICS, fell to C$12.6 billion, from C$12.9 billion last month…

• Sale involves private equity, venture capital, real estate
• Cogent Partners hired to find bidders in secondary market

Harvard University’s endowment is trying to sell about $2.5 billion of private equity, venture capital and real estate investments, according to a person familiar with the matter.

Harvard Management Co., which oversees the university’s $35.7 billion endowment, has hired Cogent Partners, a unit of Greenhill & Co., to seek bidders in the secondary market, the person said. Harvard is shopping almost $1 billion of private equity and venture capital investments, and about $1.6 billion of real estate, the person said…

Jury deliberations in the retrial of two former Dewey & LeBoeuf executives on criminal charges arising from the law firm’s collapse are starting to have a familiar ring.

The panel deciding the fate of Stephen DiCarmine, the firm’s former executive director, and Joel Sanders, its former chief financial officer, is composed of eight women and four men, like the jury in the first trial, which ended in a mistrial in October 2015.

Jurors wading through mountains of documentary evidence and three months of testimony have already begun to ask for office supplies — Post-it Notes tape and large sheets of paper — to make their job easier. The jury in the first trial, which deliberated 21 full days, did the same…

• Traders grew anxious as prosecutors ramped up investigation
• Evidence in latest case involving Nomura trio set for Monday

In the stock market, the tape never lies.

In the bond market, sometimes traders do.

That’s the message federal authorities have been sending for years as they’ve targeted dubious practices on Wall Street bond desks.

The hot topic lately: prices. What happens when traders quote different prices to different buyers — or fudge when asked what they themselves paid? One trader, Jesse Litvak, was sentenced to prison last month for lying to clients. Three others facing similar charges are on trial in a separate case ramping up on Monday…

When some of Wall Street’s savviest hedge funds piled into Puerto Rico’s debt in 2014, it seemed like an easy bet: Buy up the island’s bonds at a discount, pocket the high interest and persuade politicians to make decisions that would raise the value of their investments.

Even if Puerto Rico’s economy collapsed and its government unraveled, the investors funds figured they had an ace in hand. Puerto Rico was a United States commonwealth, and thus — like the 50 states — legally barred from declaring bankruptcy as a way to shed its debts…

The California investor acquired interest in the two wind projects that comprise the 324-megawatt Broadview Wind power facilities and the associated independent 35-mile 345-kilovolt Western Interconnect transmission line for $215 million in cash and an assumed project loan of $54 million.

Pattern Energy Group Inc. acquired from Pattern Energy Group LP (Pattern Development 1.0) interests in the 324-megawatt Broadview Wind power facilities and associated independent 35-mile 345-kilovolt Western Interconnect transmission line. The independent power company paid $269 million; $215 million in cash, funded from available corporate liquidity, and an assumed project loan of $54 million secured by Western Interconnect. Broadview, located 30 miles north of Clovis, N.M., began commercial operations in late March…

The media giant almost gave the company $25 million for its app. Now employees want answers, after the disaster in the Bahamas.

In the days before the Fyre Festival collapsed into chaos on the Bahamian island of Great Exuma, the venture capital arm of media giant Comcast Corp. opted not to invest as much as $25 million in the event’s organizer, Fyre Media Inc., according to a person familiar with the negotiations.

• Company invests $148 billion of cash pile in corporate bonds
• ‘Difficult for us to speculate’ on repatriation, CFO says

If Apple Inc. were a bond fund, it would dwarf the competition.

The iPhone-maker has $148 billion of its record $257 billion cash pile invested in corporate debt alone, according to a company filing from Wednesday. That’s enough to buy all the assets in the world’s largest fixed-income mutual fund, the Vanguard Total Bond Market Index Fund, which has about $145 billion of assets including company, government and mortgage bonds…

Apple Buys More Company Debt Than World’s Biggest Bond Funds

Daniel Martin, partner at McDermott Will & Emery, discusses the wall of CMBS maturities coming due this year and his outlook for the CRE lending market.

Over the next six months, roughly $55.8 billion in CMBS debt will come due, according to Trepp’s April CMBS report. Experts believe that tighter regulations in the financial markets have made it more difficult and more expensive for these loans to be refinanced. With retail and office loans comprising roughly 53 percent of the volume maturing through September, the commercial real estate financing industry has been taking greater caution and adopting more conservative underwriting standards. McDermott Will & Emery Partner Daniel Martin revealed to CPE why he remains optimistic about the CRE lending market and advises owners on what could be the biggest challenge they will face in today’s lending environment…

• Company uses data such as how often a phone is charged
• Collection methods include contacting family and friends

SmartFinance, a Chinese internet loans business that judges borrowers on factors including how often they charge their phones, has consulted banks about a possible U.S. listing that could happen as soon as this year.

The rapidly expanding company, which anticipates it will reach a $1 billion valuation by the end of 2017, has hired former Cheetah Mobile Chief Financial Officer Andy Yeung to help better manage investor relations and smooth the path to an eventual listing…

• The situation is isolated for now but it ‘can get messy’
• Disorderly fallout could hurt credit markets and economy

The longer Home Capital Group Inc.’s woes continue, the bigger the risk of a disorderly fallout that could hurt credit markets and Canada’s economy, said Aubrey Basdeo, head of local fixed income at BlackRock Inc.

Home Capital has disclosed a run on deposits since April 19, when the securities regulator accused it of misleading investors. While the alternative mortgage lender has rebutted the allegations and is broadly viewed as small and unrepresentative of the property or financial sectors, its troubles forced a rival to seek a funding backstop and have sparked concern of a slowdown in lending. The Canadian dollar fell to a 14-month low this week…

Prior to joining the company, Steve Gray served as senior vice president & director of leasing at Weitzman Group, overseeing a 4.8 million-square-foot retail portfolio.

Coldwell Banker Commercial Advisors DFW named Steve Gray as managing principal for its brand-new Dallas office. Gray will lead the company’s expansion into the sector and recruit the team for the new branch. He will initially be working in CBC Advisors DFW’s headquarters in Arlington, Texas, which is led by Managing Principal Gary Walker. Vice President Ryan Crabtree will join Gray and his team in the Dallas division…

CBC Advisors Appoints New Dallas Managing Principal