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  • MetLife Lends $145Mln Against Lower Manhattan Office Building

    Metropolitan Life Insurance Co. has provided a $145 million loan against 255 Greenwich St., a 623,748-square-foot office building in lower Manhattan. The loan was used to defease, or replace with government securities, an $85 million mortgage that was securitized through Morgan Stanley Capital I Trust Inc., 2006-IQ12.

    Written on Monday, 30 November 2015 15:03
  • Real Estate Crowdfunding Platform Launches Non-Traded REIT


    Fundrise, among the pioneers in the real estate crowdfunding business, has launched an effort to raise $50 million for a REIT, whose shares will be sold to accredited and non-accredited investors, via its online platform. It would be the first such REIT to take advantage of recently relaxed rules governing capital-raising efforts.


    Written on Wednesday, 25 November 2015 12:27
  • Woori Lends $122Mln Against Manhattan's Martha Washington Hotel, Adjacent Land

    Woori Bank has provided $122 million of financing against the 256-room Martha Washington Hotel and an adjacent parcel in the North of Madison Square Park area of Manhattan. The mortgage helped fund CIM Group's $157.75 million purchase of the property, at 29 East 29th St.

    Written on Tuesday, 24 November 2015 13:32
  • American Realty Capital Hospitality Says Might Be Short of Cash

    American Realty Capital Hospitality Trust Inc. has warned that it might end up short of the cash needed to complete its proposed purchase of three hotel portfolios containing 44 properties with 5,271 rooms. Its sponsor and broker-dealer affiliate have stopped raising equity on its behalf. But it might seek an equity partner or sale of certain assets to come up with the cash it needs.

    Written on Tuesday, 24 November 2015 09:30
  • New York Community Bank Lends $128.5Mln Against Manhattan's Tower 52

    New York Community Bank has provided a $128.5 million mortgage against Tower 52, a 300,000-square-foot office building at 150 East 52nd St. in midtown Manhattan. The financing was used to retire a $100 million CMBS loan that wasn't set to mature until next April. The bank this year through September has originated some $9 billion of multifamily and commercial mortgages.

    Written on Monday, 23 November 2015 15:58
  • New York Life, TIAA Lend $648.4Mln Against 2 Boston Office Buildings

    New York Life Insurance Co. and TIAA-CREF have provided $648.4 million of mortgage financing against 500 Boylston and 222 Berkeley St., a pair of adjacent office buildings with roughly 1.3 million square feet in the Back Bay area of Boston. The properties are owned by a venture of Oxford Properties Group and JPMorgan Asset Management.

    Written on Friday, 20 November 2015 16:05
  • Shorenstein in Talks with Wells Fargo for Loan Against Phila. Office

    Shorenstein Properties is said to be in talks with Wells Fargo Bank for floating-rate financing to fund its $200 million purchase of 1700 Market St., an 841,172-square-foot office building in downtown Philadelphia. The loan would be used to defease $107.8 million of CMBS financing and $12.2 million of mezzanine debt.

    Written on Thursday, 19 November 2015 16:07
  • Realty Mogul Writes $49Mln Bridge Loan Against Atlanta Apartments

    Realty Mogul has provided $49 million of bridge financing, allowing Elite Street Capital to completely renovate a 431-unit apartment property in Atlanta's Buckhead area. The loan, against 3200 Lenox Road NE, is the largest so far written by the two-year-old Los Angeles firm, which is best known for its real estate crowdfunding platform.

    Written on Thursday, 19 November 2015 14:31
  • C-III Buys CMBS B-Piece; First in More Than Seven Years

    C-III Capital Partners, which earlier this year launched an opportunistic investment fund, has circled its first CMBS B-piece in more than seven years. The fund that's buying the junior bonds of the transaction is designed to pursue high yields by investing in a variety of mortgage-related assets.

    Written on Wednesday, 18 November 2015 11:37
  • Parkway Fund Hires CBRE to Market for Sale Two Liberty Place in Philadelphia

    A Parkway Properties Inc. fund is looking to sell the 940,654 square feet of office space in the 57-story Two Liberty Place building in downtown Philadelphia. It has hired CBRE to market it for sale. The property is expected to sell for more than $251 million, which would result in a 5.4 percent capitalization rate.

    Written on Wednesday, 18 November 2015 08:20

Data Digest







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





cppichart FP





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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  • 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