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  • Admiral Capital Pursuing Core-Plus Office Properties in Suburban Markets

    Admiral Capital Group, a San Antonio investment manager led by former National Basketball Association star David Robinson, is shifting its focus to pursue primarily core-plus deals rather than value-add opportunities. It's targeting properties in suburban U.S. markets that are at least 75 percent occupied, are newer or have been renovated recently and have tenants signed to long-term leases.

    Written on Friday, 20 September 2019 10:16 Read more...
  • Apollo Global Lends $250Mln Against 533-Unit Apartment Property in Manhattan

    Apollo Global Management has provided $250 million of financing against the 533-unit apartment property at 20 Broad St. in lower Manhattan. The loan allowed the property's owner, Metro Loft Management, to retire $187 million of construction financing that was provided two years ago.

    Written on Thursday, 19 September 2019 10:49 Read more...
  • ShopOne Eyes Selling Midwest Assets, Expanding Presence Along Both Coasts

    ShopOne Centers REIT is offering for sale six properties with about 600,000 square feet in the Midwest, as part of its plan to reduce its holdings in the region. The New York company, whose shares do not trade on any exchange, expects the properties to sell for a combined $100 million in multiple transactions. Meanwhile, it wants to expand its presence in larger markets, primarily along the East and West coasts.

    Written on Wednesday, 18 September 2019 15:05 Read more...
  • Blackstone Pays $355Mln for Atlanta's Hyatt Regency Hotel

    The New York investment manager has paid $355 million, or $281,746/room, for the 1,260-room Hyatt Regency hotel in Atlanta. Hyatt Hotels Corp. sold the three-building property, which opened in 1967.

    Written on Tuesday, 17 September 2019 10:40 Read more...
  • $278.2Mln CMBS Loan Against Former Franklin Mills Mall Gets Modified Again

    The $278.2 million CMBS loan against what is now called the Philadelphia Mills shopping center in Philadelphia, which had transferred to special servicing in March, has been modified once again. Its term was extended by another five years through June 1, 2024. Excess cash flow generated by the property will go toward paying down the loan.

    Written on Monday, 16 September 2019 16:31 Read more...
  • Fannie, Freddie Regulator Revamps Multifamily Lending Caps

    The Federal Housing Finance Agency has revamped the way it restricts the multifamily lending activities of Freddie Mac and Fannie Mae. It has now set a $100 billion cap for each of the two housing-finance agencies through the end of next year. That would imply that each of the two agencies could fund roughly $80 billion in 2020.

    Written on Friday, 13 September 2019 15:08 Read more...
  • Societe Generale Lends $75Mln Against Manhattan's 606 Broadway

    Societe Generale has provided $75 million of financing against the 34,170-square-foot mixed-use building at 606 Broadway in Manhattan. The loan allowed the property's owner and developer, a venture of Madison Capital and Vornado Realty Trust, to retire construction financing.

    Written on Friday, 13 September 2019 14:37 Read more...
  • Natixis Lends $220Mln Against Amazon-Leased Offices in Seattle

    Natixis has provided $220 million of financing against 400 Ninth Ave. North, a 318,617-square-foot office building in Seattle that's fully leased to Amazon.com. The 12-story building, which was constructed four years ago by Vulcan Real Estate, is owned by a venture of Tristar Capital and RFR Holding.

    Written on Thursday, 12 September 2019 16:30 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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