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  • Aimco Offers for Sale Alexandria, Va., Apartments

    Apartment Investment and Management Co. is offering for sale Riverside Apartments, a 1,222-unit apartment property in the Washington, D.C., suburb of Alexandria, Va. The property is being offered through ARA Newmark and is seen selling for $200 million, which would result in a capitalization rate of roughly 5 percent.

    Written on Friday, 31 July 2015 15:19 Read more...
  • Dallas Office Building Attracting Offers of About $135mln

    Cousins Properties Inc. has attracted offers of about $135 million, or $160/sf, for the 843,728-square-foot building at 2100 Ross Ave. in Dallas, one of three office properties that the Atlanta REIT plans to sell. Eastdil Secured has the listing for the property, which last year generated $5.5 million of net operating income.

    Written on Friday, 31 July 2015 10:39 Read more...
  • Singapore Industrial Giant to Buy Industrial Income Trust in $4.55Bln Deal

    Industrial Income Trust Inc., a non-traded REIT sponsored by Dividend Capital Trust, has struck a deal to be acquired by an affiliate of Global Logistics Properties Ltd. in a deal valued at $4.55 billion. The acquisition would mark the second substantial purchase of industrial properties in recent months by Global Logistics.

    Written on Thursday, 30 July 2015 13:43 Read more...
  • Northern N.J. Retail Property Offered for Sale

    The estate of SCI Real Estate Investments is offering for sale the ITC Crossing South Shopping Center, a 373,612-square-foot retail property in Flanders, N.J. The property, at 40 International Drive South, could sell for $85 million, or about $278/sf, which would result in a capitalization rate of about 5.9 percent. Colliers International has the listing.

    Written on Wednesday, 29 July 2015 17:09 Read more...
  • Pru to Buy Office Property at 500 8th St. NW in Washington, D.C.

    Prudential Real Estate Investors has struck a deal to buy 500 8th St. NW, a 325,426-square-foot office building in the East End submarket of Washington, D.C. The Madison, N.J., investment manager is buying the 10-story building from a partnership led by Boston Properties Inc., which is being represented by DTZ.

    Written on Tuesday, 28 July 2015 16:11 Read more...
  • Canada's Onni Group Said to Be Buyer of Manhattan Towers

    Onni Group, a Vancouver, British Columbia, developer, is said to have turned in the winning $93 million bid for Manhattan Towers, a 308,973-square-foot office complex in Manhattan Beach, Calif. Bidding for the property was conducted on the Auction.com platform last week by special servicer CWCapital Asset Management.

    Written on Tuesday, 28 July 2015 15:09 Read more...
  • UBS Lends $150Mln Against Mall of New Hampshire

    UBS Real Estate Securities Inc. has provided $150 million of financing against the Mall of New Hampshire in Manchester, N.H. The 10-year loan pays a coupon of 4.11 percent and was used to refinance a $124.4 million loan that was provided in 2008 by Prudential Insurance Co. of America.

    Written on Tuesday, 28 July 2015 14:56 Read more...
  • AEW Looks to Flex Muscle in Mortgage-Lending Arena

    AEW Capital Management is looking to write structured loans against trophy office and high-end apartment properties in the country's 20 top markets. It typically will provide up to 80 percent leverage by combining a senior and mezzanine loan with terms of 10 years or more. Its aim is to build a $2 billion portfolio in the coming two years.

    Written on Monday, 27 July 2015 16:51 Read more...
  • Manhattan Towers Fetch $93Mln High Bid at Auction

    Manhattan Towers, the two-building office complex in Manhattan Beach, Calif., that served as collateral for a $75 million CMBS loan, is said to have attracted a high bid of $93 million. The two-building complex had served as collateral for a $75 million CMBS loan, until it was transferred to its special servicer in a deed-in-lieu of foreclosure in late 2011.

    Written on Monday, 27 July 2015 16:34 Read more...
  • BlackRock Pays $183.91Mln for Washington, D.C.'s Franklin Tower

    BlackRock Realty Advisors Inc. has paid $183.91 million, or roughly $810/sf, for Franklin Tower, a 227,000-square-foot office property in the East End submarket of Washington, D.C. The New York investment manager purchased the 12-story building, at 1401 Eye St. NW, from Shorenstein Properties.

    Written on Friday, 24 July 2015 11:29 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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