Daily market intelligence on mortgages, equity raising, investment sales, and CMBS.

Recent Headlines

Top News

  • KKR Dominates All CMBS Risk Retainers So Far This Year

    KKR Real Estate Credit has been absolutely dominating the business of retaining the risk pieces of CMBS transactions. It's retained the horizontal risk classes of 10 deals totaling $613.8 million, thanks to its dominance in the conduit world. Well behind it, with $309.29 million of volume, is Rialto Capital Advisors.

    Written on Thursday, 10 October 2019 16:22
  • Citigroup Lends $73Mln to Facilitate Purchase of Washington, D.C.'s Watergate Office Building

    Citigroup has provided $73 million of financing to help fund Seligman & Associates Inc.'s acquisition of the 214,508-square-foot Watergate office building in Washington, D.C. Seligman, a Southfield, Mich., investor, bought the property for $101.2 million, or $472/sf, from Rockwood Capital.

    Written on Wednesday, 09 October 2019 13:45
  • Cortland Sees Renovating Half the Portfolio Assumed Through Pure Acquisition

    Cortland, which recently completed its $1.2 billion acquisition of Pure Multi-Family REIT, giving it 22 properties with 7,085 units in five Southwestern markets, expects to put about a dozen of the properties it assumed through a comprehensive renovation plan. It's also evaluating the $540 million of mortgage debt it assumed as part of its purchase. Some loans might get replaced.

    Written on Tuesday, 08 October 2019 16:44
  • Rockpoint Pays $806Mln for Boston Office; Gets Financing from Wells Fargo

    Rockpoint Group has paid $806 million, or $733/sf, for the 1.1 million-square-foot office building at 100 Summer St. in downtown Boston. It financed its purchase with a $470 million mortgage provided by Wells Fargo Bank. The building is across from 99 Summer, which Rockpoint had purchased four years ago.

    Written on Monday, 07 October 2019 16:08
  • Rialto Capital Continues Conduit B-Piece Dominance; KKR Tops All Risk Retainers

    Rialto Capital Advisors bought the B-pieces of four CMBS conduit transactions during the third quarter, accounting for nearly one-third of the new-issue B-piece market. But KKR Real Estate Finance Trust remains the most active investor in conduits' horizontal risk slices. It invested $523.8 million in seven conduit deals. That's nearly double the $270.6 million that its nearest rival, Rialto, invested.

    Written on Friday, 04 October 2019 06:47
  • Greystone Hires Team of Seasoned Execs to Build CMBS B-Piece Operation

    Greystone is beefing up its CMBS chops by hiring a team of seasoned commercial mortgage professionals to build a B-piece investing business and build out its special servicing capabilities. CMBS lenders are expected to increase their share of the multifamily lending market, creating a unique opportunity for lenders like Greystone that focus on that sector.

    Written on Thursday, 03 October 2019 13:27

Data Digest







Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44




cppichart FP



CMBS 2.0 Spreads


Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41



Receive daily updates on major news, trends and events occurring in the CRE market nationwide.



  • 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