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  • Brandywine Hires CBRE to Market for Sale Richmond, Va., Office Portfolio

    Brandywine Realty Trust has hired CBRE to market for sale a portfolio of five office properties with 734,277 square feet in the Richmond, Va., area. The portfolio, which CBRE refers to as the Northwest Quadrant Office portfolio, is projected to generate $7.7 million of net operating income next year. Brandywine, a Radnor, Pa., REIT, carries the five properties on its balance sheet at a value of $91.9 million.

    Written on Friday, 22 May 2015 13:52 Read more...
  • AEW to Pay $248Mln for West Palm Beach, Fla., Office

    AEW Capital Management has struck a deal to pay $248 million, or a record $539/sf, for Phillips Point, a 460,290-square-foot office property in downtown West Palm Beach, Fla. The transaction would be the biggest-ticket sale in the city, which is enjoying a drop in vacancy and increase in rents. The property's being acquired from Colonnade Properties.

    Written on Thursday, 21 May 2015 16:50 Read more...
  • 2 Suburban Philadelphia Apartment Properties Offered for Sale

    Two apartment complexes that were developed on the site of a long-ago shuttered industrial property near Philadelphia are being offered for sale by their owners. Milestone Group has tapped CBRE to sell Riverview Landing, with 310 units, while O'Neill Properties Group has hired Cushman & Wakefield to sell Lofts at Valley Forge. Both are in Eagleville, Pa.

    Written on Wednesday, 20 May 2015 16:55 Read more...
  • Equus Offers for Sale Madison Vinings Ridge Apartments in Atlanta

    Equus Capital Partners Ltd. is offering for sale Madison Vinings Ridge, a 494-unit apartment property in the Vinings submarket of Atlanta that it had acquired in 2008. The property, which is owned by a fund the Philadelphia investment manager sponsors, is being offered through CBRE and could sell for as much as $80 million.

    Written on Tuesday, 19 May 2015 14:52 Read more...
  • LoanCore Capital Tapping Public Markets for Equity

    LoanCore Capital is going the public-markets route to raise equity that it would use to fund mortgage originations. The company, founded by Mark Finerman in 2008, will continue to be part-owned by GIC Pte. Ltd. Its public offering would give it a permanent-capital structure, and allow it to diversify its investor base.

    Written on Monday, 18 May 2015 16:39 Read more...
  • Investment Manager Taps Crowdfunding for Fund's Equity

    Investment manager Olympus Property is using an Internet crowdfunding platform to raise $18.4 million of the roughly $50 million of equity targeted for a fund that will pursue apartment properties in the Sunbelt.

    Written on Friday, 15 May 2015 11:36 Read more...
  • Atlanta-Area Apartment Portfolio with 1,420 Units Hit Sales Market

    Wilkinson Real Estate Advisors Inc. is offering for sale a portfolio of four apartment properties in the Atlanta area with 1,420 units. The Atlanta company has hired CBRE to market the portfolio, which could sell for $140 million, or roughly $98,592/unit. That would result in a capitalization rate of about 6 percent.

    Written on Thursday, 14 May 2015 17:10 Read more...
  • FHFA Exceptions Seen Adding $5Bln of Lending to Each Agency's Volume

    Fannie Mae and Freddie Mac might very well be able to exceed the multifamily origination caps set by the Federal Housing Finance Agency by more than $5 billion each, thanks to exclusions the regulator put in place. The exclusions give the agencies credit for pieces of their loans tied to units that fall into the affordable category.

    Written on Thursday, 14 May 2015 09:09 Read more...
  • Boston Properties Venture Offers Trophy Washington, D.C., Office Building

    A partnership led by Boston Properties Inc. is offering for sale 500 8th St. NW, a 325,426-square-foot office building in the East End submarket of Washington, D.C. The venture has tapped DTZ to market the eight-year-old property, which could see a sales price of $1,000/sf, or just more than $325 million.

    Written on Wednesday, 13 May 2015 16:35 Read more...
  • MAA Plans $500Mln of Acquisitions This Year

    Mid-America Apartment Communities Inc. has paid $46.5 million, or $156,040/unit, for the 298-unit Residences at Burlington Creek apartment complex in Kansas City, Mo. - the first of what the REIT expects will be up to $500 million of acquisitions this year.

    Written on Tuesday, 12 May 2015 14:36 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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