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  • AEW Venture Offers for Sale Suburban D.C. Retail Property

    A venture led by AEW Capital Management is offering for sale the Towne Centre at Laurel, a 387,041-square-foot retail property in the Washington, D.C., suburb of Laurel, Md. The property should sell for more than $118 million, given its relative youth and solid occupancy.

    Written on Monday, 20 April 2015 16:53 Read more...
  • KeyBank Writes $215Mln Freddie Loan Against Boston's Harbor Point Apartments

    The loan matures in 2035 and was used to defease a $156.7 million loan that was securitized through GS Mortgage Securities Corp. II, 2007-GG10. The CMBS loan pays a 6.544 percent coupon and is locked out from prepayment until April 2017. It doesn't mature until July 2017.

    Written on Friday, 17 April 2015 14:16 Read more...
  • Broe Real Estate Eyes TIC Market for Opportunities

    Broe Real Estate Group, a Denver investment manager, has earmarked $100 million of capital to recapitalize properties owned by tenant-in-common investment groups. The company expects that opportunities to recapitalize TIC-owned properties will blossom over the next few years. So it's put together what it calls its Equity Solutions program.

    Written on Friday, 17 April 2015 13:35 Read more...
  • Bridge Lender Combines Traditional and Crowdfunded Capital

    Money 360, an online marketplace through which property owners can access loans funded by accredited investors, is aiming to facilitate some $150 million of bridge loans this year. It allows borrowers to access investors directly through its Web site. It also has lined up a $100 million commitment from a lender that would fund loans on its site.

    Written on Thursday, 16 April 2015 10:41 Read more...
  • Suburban Washington, D.C., Apartment Property Offered for Sale

    LaSalle Investment Management is offering for sale Jefferson at Orchard Pond, a 748-unit apartment property in the Washington, D.C., suburb of Gaithersburg, Md. The Chicago investment manager has hired CBRE to market the property, which could sell for about $105 million, or $140,374/unit.

    Written on Wednesday, 15 April 2015 09:35 Read more...
  • Natixis Lends $180Mln Against Ground Beneath Manhattan's Carnegie House

    Natixis Real Estate Capital has provided $180 million of financing against the ground beneath the Carnegie House, a 325-unit cooperative apartment property at 100 West 57th St. in midtown Manhattan. The loan that Natixis provided has a 2019 anticipated repayment date and requires only interest payments until then. It pays a coupon of 2.307 percent.

    Written on Tuesday, 14 April 2015 16:35 Read more...
  • CIBC Lends $120Mln Against Mo. Office Property

    CIBC has provided a $120 million loan against the 1 million-square-foot Summit Office Campus in the Kansas City, Mo., suburb of Lee's Summit, Mo. The debt takes out a CMBS loan that was modified two years ago, sharply reducing its prepayment penalty.

    Written on Monday, 13 April 2015 16:55 Read more...
  • Lubert-Adler Nears Equity Target for First Fund Since 2009

    Lubert-Adler Partners has raised $485 million of the $560 million equity target for its first real estate investment fund since 2009. The Philadelphia company employs value-add and opportunistic strategies to invest in all the major property sectors, along with hotels and student housing, across the country.

    Written on Monday, 13 April 2015 14:12 Read more...
  • Morgan Stanley Lends $578.9Mln Against 6.9Mln-SF Office Portfolio

    Morgan Stanley has provided a $578.9 million loan against a portfolio of 61 suburban office properties with 6.9 million square feet, mostly in the Southeast. The portfolio was acquired for $1.12 billion by a venture led by Starwood Capital Group from Duke Realty Corp.

    Written on Friday, 10 April 2015 12:15 Read more...
  • Mission Capital Arranges $50Mln of Financing for Bridge Lender

    Mission Capital Advisors has arranged a $50 million financing facility, from a foreign bank, for Columbia Pacific Advisors, allowing the Seattle investment manager to leverage its bridge-lending platform. The financing was a first for Mission, which is aiming to carve out a niche helping other lenders line up innovative financing instruments.

    Written on Friday, 10 April 2015 11:48 Read more...

Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners
Private-Label CMBS - FY2014
Inv Bank #Deals Bal $mln MktShr%
Deutsche Bank 27.1  23,479.37 26.3
JPMorgan 18.6  13,752.01 15.4
Wells Fargo 17.2  13,085.05 14.6
Goldman Sachs 9.0  7,896.25 8.8
Citigroup 9.1  7,526.97 8.4

 

 

MOODY'S/RCA CPPI

 

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Top Loan Contributors
Private-Label CMBS FY2014
Lender Vol $mln MktShr%
Deutsche Bank 14,005.13 16.0
JPMorgan 11,440.63 13.0
Wells Fargo 5,849.16 6.7
CCRE 5,750.69 6.6
Citigroup 5,604.13 6.4

 

 

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REITCafe

  • West Coast Port Slowdown and Industrial REITs
    After nine months of labor negotiations and worsening cargo congestion at West Coast Ports, U.S. Labor Secretary Thomas Perez stepped in this week to help broker a deal between the union and shippers. The work slowdown is affecting the nation’s supply chain. Honda has reported a production slowdown because of parts....
     
  • New REITs Increase Investor Choices in 2015
    Three REIT IPOs in as many weeks could indicate a strong year ahead for new REIT formation. Robust REIT returns during 2014 created momentum for IPO activity. In addition, the market’s favorable reception of the widely-watched Paramount REIT (PGRE) and STORE Capital (STOR) IPOs in late 2014 has encouraged companies to....

  • REITs Start 2015 Strong
    One month in to 2015, REITs continue to outperform the broader markets. During January, the FTSE NAREIT All REIT Index total return measured 5.59 percent, compared to -3.00 percent for the S&P 500, -3.69 percent for the DJIA, and -2.13 percent for the NASDAQ. REITs are attractive to investors for a...
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