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  • Baltimore-Area Apartment Property Offered for Sale

    A venture of Federal Capital Partners and Angelo, Gordon & Co. is offering for sale the Fairways at Towson, an 828-unit apartment property in the Baltimore suburb of Towson, Md. The property, at 6906 Donachie Road, could sell for about $103.5 million, or $125,000/unit. It's being offered through CBRE.

    Written on Friday, 17 October 2014 15:48 Read more...
  • Ares Offers for Sale Atlanta's Embassy Row Office Complex

    Ares Management is offering for sale Embassy Row, a 666,274-square-foot office property in Atlanta's central perimeter submarket. CBRE is marketing the complex, which could sell for about $100 million, or $150/sf.

    Written on Thursday, 16 October 2014 16:32 Read more...
  • Wall of Maturities Shrinks by 10 Percent in 9 Months; Volume Remains Formidable

    A total of 22,514 CMBS conduit loans with a balance of $278.1 billion come due in the next three years. While a seemingly massive wall of maturities, the volume has shrunk by nearly 10 percent over the past nine months. But there's a bit of natural selection going on and many of the loans that remain could face challenges getting taken out.

    Written on Thursday, 16 October 2014 15:36 Read more...
  • Santa Monica, Calif., Property Under Agreement to Sell for $113Mln

    Hines has agreed to sell a 206,000-square-foot industrial property that it had planned to redevelop into a mixed-use complex in Santa Monica, Calif., for $113 million, or $550/sf. The property's being purchased by a venture of Lincoln Property Co. and Clarion Partners, which will likely redevelop it into creative office use.

    Written on Wednesday, 15 October 2014 16:55 Read more...
  • Nightingale to Pay $100Mln for Philadelphia's 1835 Market St.

    Nightingale Group has struck a deal to pay roughly $100 million, or $125/sf, for 1835 Market St., a 799,994-square-foot office property in Philadelphia. The New York investor is buying the 29-story building from the California State Teachers' Retirement System in a deal arranged by JLL.

    Written on Wednesday, 15 October 2014 16:46 Read more...
  • Dallas Investment Manager Seeks $300Mln for Fourth Fund

    Thackeray Partners is seeking $300 million of commitments for its fourth investment fund. The Dallas investment manager has so far raised $204 million of its target. The fund would be a follow-up to a vehicle that raised $225 million - more than the $200 million targeted - in 2012.

    Written on Wednesday, 15 October 2014 10:18 Read more...
  • Seer Capital Most-Active CMBS B-Piece Buyer During 3Q

    Seer Capital Management, a New York investment manager that started investing in CMBS earlier this year, was the most active buyer of B-pieces during the third quarter. The company is one of two newcomers to the market this year. For the nine months, Rialto Capital Management was the most active player.

    Written on Tuesday, 14 October 2014 16:55 Read more...
  • JRK Offers Portfolio of Apartment Properties with 1,028 Units

    The Los Angeles investor has taken a first round of offers for a portfolio of three apartment properties, in Florida, Georgia and Ohio, with a total of 1,028 units. It plans to take a second round later this month. It's offering the properties, which it had acquired following the capital-markets collapse, through CBRE.

    Written on Tuesday, 14 October 2014 16:44 Read more...
  • Pier Shops at Caesars in Atlantic City, N.J., to Sell for $3Mln

    The Pier Shops at Caesars, a 303,788-square-foot retail property in Atlantic City, N.J., that had served as collateral for $135 million of financing, including $80.5 million that was securitized, is under contract to be sold for roughly $3 million. The buyer is Tower Investments Inc. of Philadelphia.

    Written on Friday, 10 October 2014 16:36 Read more...
  • Duke Offers 982,000-SF Office Portfolio in St. Louis-Area for Sale

    The Indianapolis REIT has tapped Cassidy Turley to market for sale a portfolio of eight office buildings in the St. Louis area. The portfolio consists of six buildings in the Maryville Centre business park in St. Louis, and Woodmills Commons, with two buildings off Highway 141 in Chesterfield, Mo.

    Written on Friday, 10 October 2014 09:04 Read more...

Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners
Private-Label CMBS - 9Mos2014
Inv Bank #Deals Bal $mln MktShr%
Deutsche Bank 26.0 19,675.34 29.5
JPMorgan 12.1 8,678.41 13.0
Wells Fargo 15.1 8,504.57 12.8
Goldman Sachs 7.0 5,740.15 8.6
Citigroup 9.3 5,337.91 8.0

 

 

MOODY'S/RCA CPPI

 

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Top Loan Contributors
Private-Label CMBS 9Mos2014
Lender Vol $mln MktShr%
Deutsche Bank 11,647.54 17.75
JPMorgan 7,496.78 11.42
Wells Fargo 4,540.31 6.92
CCRE 4,474.33 6.82
Morgan Stanley 4,312.62 6.57

 

 

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REITCafe

  • Strong August REIT Performance
    Fueled by a healthy economic outlook, improving real estate market fundamentals, and ongoing low interest rates, REITs experienced strong growth in August. The 3.38 percent monthly gain in the FTSE NAREIT all REIT Index was not as strong as the NASDAQ (4.82 percent) or the S&P 500 (4.00 percent) and only...
     
  • REITs Set to Emerge in India in 2015
    After more than five years, India is poised to become the latest country to offer REITs. The process that began in 2008, but was derailed by the financial crisis, should reach fruition in 2015. In July, India’s Finance Minister awarded tax pass-through status to REITs, exempting them from federal taxes as...

  • The Debut of Telecom REITs
    Telecommunications network assets are the latest specialized REIT category to make industry waves. In late July, Arkansas-based Windstream (WIN) received a private letter ruling from the IRS for its plan to create a REIT that will own its fiber optic and copper cables, as well as other fixed real estate assets...

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