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  • Largest Office Property in Bethesda, Md., Hits Sales Market

    A venture of MRP Realty and Rockpoint Group Inc. is offering for sale Bethesda Crossing, with 700,000 square feet of office space in the Washington, D.C., suburb of Bethesda, Md. The property, the largest office property in Bethesda, is being offered through Cassidy Turley and could sell for $325 million.

    Written on Monday, 15 September 2014 16:43 Read more...
  • JPMorgan Offers $50Mln Loan Against Historic Boston-Area Complex

    JPMorgan Asset Management is offering a $50 million mortgage against the Clock Tower Place, a historic 1.1 million-square-foot office complex in the Boston suburb of Maynard, Mass. The loan is performing, but that's not expected to last as one of the property's main tenants is moving out at the end of the year.

    Written on Monday, 15 September 2014 15:37 Read more...
  • NorthStar Venture to Pay $142Mln for St. Louis-Area Office Complex

    A venture of NorthStar Realty Finance and Redico has agreed to pay Koman Cos. $142 million, or about $161/sf, for the CityPlace Campus, an 884,308-square-foot office complex in the St. Louis suburb of Creve Coeur, Mo. The property backs a $112.7 million CMBS loan whose term was extended through next month as part of a loan modification.

    Written on Friday, 12 September 2014 10:31 Read more...
  • Cantor Lends $145Mln Against Manhattan Office Building

    Cantor Commercial Real Estate has provided $145 million of financing against 80-90 Maiden Lane, a 583,746-square-foot office property in lower Manhattan, allowing an $82.6 million CMBS loan to get defeased, or replaced with government securities.

    Written on Thursday, 11 September 2014 16:29 Read more...
  • KBS REIT II Lists St. Louis-Area Office Complex for Sale

     

    KBS REIT II is in the market to sell the Pierre LaClede Center, a 581,095-square-foot office complex in Clayton, Mo., that's expected to fetch at least $170/sf, or $100 million. It's tapped HFF to offer the two-building complex, which KBS had purchased in 2010 for $74.25 million.

     

    Written on Thursday, 11 September 2014 13:35 Read more...
  • KBS Offers for Sale Louisville, Ky., Office Building

    KBS REIT II Inc. is offering for sale the National City Tower, a 723,300-square-foot office building in downtown Louisville, Ky. The non-traded REIT had purchased the 40-story building in 2010 for $115 million. It's seen selling for $130 million.

    Written on Wednesday, 10 September 2014 17:22 Read more...
  • Aegon Seen Striking Deal to Sell Atlanta's Interstate North Office Park

    Aegon USA Realty Advisors Inc. has struck a deal to sell the 970,368-square-foot Interstate North Office Park in Atlanta to a Chicago investor for roughly $90 million, or $93/sf. It had offered the 11-building property through Cushman & Wakefield. The Chicago investor turned in the second highest offer. Aegon, for unknown reasons, was unable to strike a deal with the top bidder.

    Written on Wednesday, 10 September 2014 09:27 Read more...
  • First Deal of Conduit Flurry Prices at Solid Levels

    The first of six scheduled CMBS conduit transactions priced late last week at levels that were substantially tighter than the last conduit, which priced three weeks earlier. That's despite the fact that the transaction's A-J class carried split ratings. Moody's rated it Aa1, while Fitch and Kroll gave it their AAA ratings.

    Written on Tuesday, 09 September 2014 15:13 Read more...
  • Voya Lends $105Mln Against Brooklyn, N.Y., Retail Property

    Voya Investment Management has provided $105 million of financing against the Atlantic Terminal Mall, a 370,000-square-foot retail property in Brooklyn, N.Y. The fixed-rate loan matures in 2024 and replaces financing that was provided in 2005 by TIAA-CREF.

    Written on Monday, 08 September 2014 16:46 Read more...
  • Deutsche Wins Bidding for $135Mln Loan Portfolio Offered by Nationwide

    Deutsche Bank won the bidding for a portfolio of $135 million of performing commercial mortgages from Nationwide Life Insurance Co. The bank is said to have paid a price north of par for the portfolio, which included some $25 million of what have been described as subperforming loans. Eastdil Secured advised Nationwide.

    Written on Monday, 08 September 2014 16:04 Read more...

Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners
Private-Label CMBS - 1H2014
I Bank #Deals Bal $mln MktShr%
Deutsche Bank 16.0 12,761.50 32.4
JPMorgan 6.1 4,856.29 12.4
Wells Fargo 8.1 4,790.00 12.2
Citigroup 4.3 3,750.00 9.5
Goldman Sachs 4.0 3,722.62 9.5

 

 

MOODY'S/RCA CPPI

 

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CMBS 2.0/3.0 SPREADS

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Top Loan Contributors
Private-Label CMBS 1H2014
Lender Vol $mln MktShr%
Deutsche Bank 8,118.01 20.87
JPMorgan 4,486.83 11.53
CCRE 3,064.41 7.88
Citigroup 2,779.70 7.15
Goldman Sachs 2,604.85 6.7

 

 

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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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