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

Recent Headlines

Top News

  • Investor Buys Distressed Loan on N.Y. Mixed-Use Development

    Churchill Real Estate Holdings has acquired the $48.5 million of financing that Madison Realty Capital had provided two years ago against a development site near Manhattan's Penn Station. The deal allowed the New York investment manager to take over the collateral. It funded its purchase with a $35 million loan provided by Pembrook Capital Management.

    Written on Tuesday, 19 June 2018 11:58 Read more...
  • Land Beneath Posh Resort-Turned-Treatment Facility Near Vail, Colo., Offered for Sale

    The ground beneath the Lodge at Cordillera, once a posh resort and spa near Vail, Colo., is being offered for sale by the property's owner, Concerted Care Group. It would provide a buyer a 7.65 percent cap rate based on an expected $65 million sales price. The property had 56 rooms, a restaurant and 20,000-square-foot spa. It's being converted into a drug-treatment facility.

    Written on Monday, 18 June 2018 17:53 Read more...
  • Alternative Lenders Enjoy Efficient Financing Through CLO Market

    Things are getting interesting in the alternative lending space. Players in the space are now enjoying extremely low-cost funding, thanks to what could best be described as a vibrant collateralized loan obligation market. That's allowed them to remain as competitive as ever when writing and funding loans. But they could be facing a formidable competitor: regional and local banks, many of which have been given a regulatory reprieve.

    Written on Friday, 15 June 2018 15:51 Read more...
  • Massive Shuffling of Chairs in Order for Congress; Big Agency Turnover; Limited Reform Seen

    Regardless of which party controls the House or Senate following the upcoming midterm elections, any regulatory reform to follow is expected to be minimal.

    Written on Friday, 15 June 2018 13:35 Read more...
  • Trimont Sees Growth in CLO Market as Opportunity for Servicing Operation

    Trimont Real Estate Advisors expects growth in its servicing portfolio this year to come from the collateralized loan obligation market. The Atlanta company, which oversees a massive portfolio of construction loans, has been named special servicer on nearly a quarter of the year's CLOs so far. That market's expected to grow substantially from last year, when $7.8 billion of deals were floated.

    Written on Thursday, 14 June 2018 16:30 Read more...
  • CLOs: Formerly Known as CDOs

    The influx of collateralized loan obligations shows how far the market has come since the economic downturn.

    Written on Thursday, 14 June 2018 14:58 Read more...

Data Digest

 

CMBS DELINQUENCY VOLUME

dqdataFP1

 

CMBS SPECIAL SERVICING VOLUME

sschartfp

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

 

cppichart FP

 

 

CMBS 2.0 Spreads

AAAspreads

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.


 

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
warehouse-backstage