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  • John Hancock Lends $100Mln Against Four Seasons Boston Hotel

    John Hancock Life Insurance Co. has provided $100 million of mortgage financing against the 273-room Four Seasons Boston hotel in downtown Boston. The loan retires $71.4 million of debt that was securitized through JPMorgan Chase Commercial Mortgage Securities Corp., 2005-LDP3.

    Written on Friday, 28 August 2015 16:28 Read more...
  • Allstate, Brandywine Venture Puts Va. Office Properties on Sales Market

    A venture of Allstate Corp. and Brandywine Realty Trust is offering for sale two adjacent office buildings with 364,277 square feet in the Washington, D.C., suburb of Falls Church, Va. JLL has been hired to market the eight-story buildings, at 3130 and 3141 Fairview Park Drive, about 13 miles from downtown Washington.

    Written on Thursday, 27 August 2015 17:44 Read more...
  • Fortis Offers for Sale Recently Built Apartments in Brooklyn, N.Y.

    Fortis Property Group is offering for sale Atelier Williamsburg, a recently-completed apartment property with 120 units in the North Williamsburg neighborhood of Brooklyn, N.Y. The property's being offered through HFF and could sell for $865,000/unit, which would result in a capitalization rate, upon stabilization, of 4.5 percent.

    Written on Wednesday, 26 August 2015 09:30 Read more...
  • Investment Manager Sells Stake in U.S. Office Portfolio; More Deals Planned

    Rosemont Realty has sold a majority interest in a portfolio of 16 million square feet of office space to a pair of Hong Kong investors, with which it plans to invest up to $3 billion of class-A office properties in the United States in the coming three years.

    Written on Tuesday, 25 August 2015 11:33 Read more...
  • Bank of America Lends $180Mln Against 261 Fifth Ave. in Manhattan

    Bank of America has provided a $180 million loan against the 434,238-square-foot office property at 261 Fifth Ave. in Manhattan's Midtown South area. The financing was used to fund the repayment of a $141 million CMBS loan that matured earlier this month.

    Written on Monday, 24 August 2015 16:47 Read more...
  • Deutsche Lends $130.1Mln Against Manhattan's Lighthouse Building

    Deutsche Bank has provided $130.1 million of financing against the 194,220-square-foot office building at 111 East 59th St. in midtown Manhattan, allowing for the defeasance of a $45 million CMBS loan. The collateral property will be redeveloped by its owner, which recently purchased it for $170 million.

    Written on Friday, 21 August 2015 14:14 Read more...
  • Gateway Salt Lake's Liquidation Would Provide Study on Changes to Distribution Priority

    The $94.9 million loan against Gateway Salt Lake, which recently was transferred to special servicing because it is expected to default, could provide a case study on how the waterfall of payments from asset liquidations has changed in the CMBS 2.0 era. Interest shortfalls stemming from appraisal reductions have been made subordinate to a loan's principal.

    Written on Thursday, 20 August 2015 13:52 Read more...
  • Deutsche Lends $415Mln Against Chicago's Prudential Plaza

    Deutsche Bank has provided $415 million of financing against Prudential Plaza, a two-building office complex with 2.2 million square feet in downtown Chicago. The 10-year loan was used to refinance a portion of a CMBS loan that had been modified two years ago into a $336 million A-note and $74 million B-note, the latter of which has been wiped out.

    Written on Wednesday, 19 August 2015 14:27 Read more...
  • Sabal Financial Taps HFF to Offer $541.2Mln Portfolio of Loans, REO

    Sabal Financial Group, one of the most active buyers of distressed real estate assets in recent years, is offering a portfolio of 317 performing and nonperforming loans and 114 foreclosed properties with a balance of $541.2 million. The Newport Beach, Calif., company, which is part owned by Oaktree Capital Management, has tapped HFF to market the portfolio for sale.

    Written on Wednesday, 19 August 2015 11:24 Read more...
  • Raleigh, N.C., Apartments Offered for Sale, Premium Price Seen

    A venture of Novare Group and Batson-Cooke Development Co. is offering for sale the 320-unit SkyHouse Raleigh upscale apartment property in Raleigh, N.C. JLL has the assignment for the recently-completed development, the first high-rise apartment property in the city.

    Written on Tuesday, 18 August 2015 16:39 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

  • Challenging Retail Environment Weights on REITs
    Mixed economic news is weighing on retail markets, pushing REIT performance down in 2015. This week, the National Retail Federation announced that back-to-school spending is expected to be down 9.3% in 2015. This news came on the heels of a report from the Commerce Department stating that retail sales declined 0.3%...
     
  • US REITs Feeling Effects from Turmoil in Greece and China
    International economic forces have taken center stage this week, affecting both US stock markets and REITs. The crash in the Chinese stock market and ongoing concerns about the future of Greece in the eurozone drove markets down during the first half of the week. REITs fared better than the overall market...

  • What Does Increased Construction Mean for Apartment REITs?
    REITs so far this year have raised $17.1 billion of capital through the sale of unsecured notes, bringing the total raised over the past two and a half years to just more than $75 billion. That’s more than they raised during the previous five years. The massive volume shouldn’t be a surprise as it comes while the yield from 10-year Treasury bonds, the benchmark...
shouldn’t be a surprise as it comes while the yield from 10-year Treasury bonds, the benchmark against which most REIT’s price their bonds
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