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

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  • Venture Pursues Grocery-Anchored, Service-Oriented Shopping Centers in Smaller Markets

    Carnegie-Weinberg, a venture of family office Weinberg Capital Group and real estate investor Carnegie Cos., is pursuing small- to mid-sized grocery-anchored and service-oriented shopping centers in secondary and tertiary markets. It is pursuing shopping centers with 50,000 to 150,000 square feet primarily in the Midwest United States.

    Written on Monday, 11 February 2019 14:27 Read more...
  • Artemis Real Estate Raises $950Mln for Latest Value-Add Fund

    Artemis Real Estate Partners has raised $950 million of equity commitments for its latest value-add investment vehicle, exceeding the capital raised by its predecessor fund by two-thirds. It had raised $580 million for that fund in 2014.

    Written on Friday, 08 February 2019 15:53 Read more...
  • KKR Edges Out Rialto in B-Piece Buyer Crown; Takes Top Honors Among Retainers of Risk

    KKR Real Estate Credit Opportunity Partners was the most active retainer of risk in the CMBS market last year, as a result of its dominance in the conduit market. A ranking of investors that retained the horizontal risk-retention strips of conduit deals had KKR buying $770.2 million of bonds from 10 transactions, or 30 percent of all the horizontal strips from conduits during the year. Argentic Real Estate Finance, meanwhile, accounted for nearly 21 percent of conduits' horizontal risk pieces.

    Written on Thursday, 07 February 2019 14:58 Read more...
  • Saban Paying $170Mln for D.C.'s One Independence Square

    Saban Capital Group has agreed to pay $170 million, or $509/sf, for One Independence Square, a 333,815-square-foot office building at 250 E St. SW in Washington, D.C. The Los Angeles company is buying the property from Piedmont Office Realty Trust Inc., an Atlanta REIT.

    Written on Wednesday, 06 February 2019 14:36 Read more...
  • Sabal Aims for $2Bln of Originations This Year; Eyes Non-Multifamily Sectors

    Sabal Capital Partners last year originated $1.5 billion of small-balance commercial mortgages and aims to increase that volume to $2 billion this year. Its growth will come from loans it writes against properties other than multifamily. To spearhead that effort, it's hired Robert Restrick as managing director and head of commercial real estate lending.

    Written on Tuesday, 05 February 2019 09:31 Read more...
  • Blackstone Reaches $17.3Bln of Commitments for Latest Opportunity Fund

    Blackstone Group has completed raising $17.3 billion of a targeted $20 billion on behalf of its latest opportunistic real estate fund, Blackstone Real Estate Partners IX. The capital has been raised from institutional investors. The company will target retail investors for the remainder of its targeted capital.

    Written on Monday, 04 February 2019 16:45 Read more...

Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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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

 

RCA CPPI

 

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CMBS 2.0 Spreads

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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

 

 

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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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