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

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  • Pru Lends $225Mln Against 901 New York Ave. in Washington, D.C.

    Prudential Insurance Co. of America has provided a $225 million loan against 901 New York Ave. NW, a 539,679-square foot office property in the East End submarket of Washington, D.C. The loan takes out $151.2 million of debt that was held by MetLife.

    Written on Thursday, 18 December 2014 17:07
  • Starwood Lends $85.5Mln Against Tallest Office Building in Wilmington, Del.

    Starwood Mortgage Capital has provided $85.5 million of financing against Chase Manhattan Centre, a 441,341-square-foot office property in downtown Wilmington, Del. The loan was used to defease, or replace with government securities, an $82.8 million CMBS loan that was securitized through Merrill Lynch Mortgage Trust, 2005-CKI1.

    Written on Wednesday, 17 December 2014 10:47
  • Recently Modified CMBS Loan Gets Paid Off

    A $93.2 million CMBS loan against a 526,245-square-foot office property in the Las Colinas section of Irving, Texas, that's leased to NEC America Inc. has been paid off. The pay off, highlighted by Barclays Capital in a research brief yesterday, came as a surprise because the mortgage, which was securitized through JPMorgan Chase Commercial Mortgage Securities Corp., 2005-LDP5, was modified just four months earlier.

    Written on Tuesday, 16 December 2014 10:16
  • McDowell Seen Selling North Carolina Apartment Portfolio for $215Mln

    McDowell Properties has struck a deal to sell a portfolio of eight apartment properties with 2,571 units in the Charlotte, N.C., area for $215 million, or about $83,625/unit. The San Francisco apartment specialist had acquired the portfolio in 2007 from Equity Residential Properties Trust for $205 million, or roughly $79,736/unit.

    Written on Monday, 15 December 2014 16:16
  • Pru Seeks $500Mln for Fifth Seniors-Housing Fund

    Prudential Real Estate Investors is seeking $500 million of equity commitments for its fifth investment fund targeting the seniors-housing market. Senior Housing Partnership Fund V is a follow-up to a vehicle that raised $568 million and so far has generated a 7.43 percent internal rate of return.

    Written on Monday, 15 December 2014 10:06
  • CMBS Defeasance Activity Hits Post-Recession High

    Defeasance activity in the CMBS sector this year has hit a new post-market collapse high, with $16.2 billion of loans having been replaced with government securities, according to Trepp LLC. That compares with $11.8 billion for all of last year. The full-year tally could be as much as $1 billion higher when all is said and done as a few big-ticket loans get defeased in the coming weeks.

    Written on Friday, 12 December 2014 15:29
  • Salt Lake City Firm Seeks $750Mln for Latest Investment Fund

    Just a year after raising $600 million of equity commitments for one value-add investment fund, Bridge Investment Group Partners, a Salt Lake City investment manager, is back in the market seeking up to $750 million for another vehicle. Its recently-launched ROC Multifamily & Commercial Office Fund III will pursue value-add and opportunistic investments.

    Written on Thursday, 11 December 2014 11:52
  • KBS to Pay $248Mln for Northern California Office Complex

    KBS REIT III Inc. has agreed to pay $248 million, or $304.30/sf, for the Towers at Emeryville, an 815,018-square-foot office complex in Emeryville, Calif., which is across the bay from San Francisco. It's buying the three-building complex from a venture of LBA Realty and Starwood Capital Group that bought it four years ago for $130 million.

    Written on Thursday, 11 December 2014 09:28
  • $2.6Bln of Financing Against Health-Care Portfolio has Fixed-, Floating-Rate Pieces

    The $2.6 billion of financing that Citigroup, JPMorgan Chase Bank, Barclays Bank and Column Financial have provided to facilitate NorthStar Realty Finance's acquisition of Griffin-American Healthcare REIT II Inc. includes both fixed- and floating-rate components. In addition, Credit Suisse is providing $351 million of financing under a loan denominated in Pounds Sterling.

    Written on Wednesday, 10 December 2014 10:10
  • Gramercy Property to Pay $399Mln for 2.7Mln-SF Portfolio

    Gramercy Property Trust has struck a deal to pay $399 million for a portfolio of 12 office, industrial and data-center properties with 2.7 million square feet from Dividend Capital Diversified Property Fund Inc. It is assuming $142 million of a $173.8 million CMBS loan against the properties, which are scattered among seven states, with a concentration in California.

    Written on Tuesday, 09 December 2014 18:10

Data Digest







Top Bookrunners
Private-Label CMBS - 9Mos2014
Inv Bank #Deals Bal $mln MktShr%
Deutsche Bank 26.0 19,675.34 29.5
JPMorgan 12.1 8,678.41 13.0
Wells Fargo 15.1 8,504.57 12.8
Goldman Sachs 7.0 5,740.15 8.6
Citigroup 9.3 5,337.91 8.0





cppichart FP





Top Loan Contributors
Private-Label CMBS 9Mos2014
Lender Vol $mln MktShr%
Deutsche Bank 11,647.54 17.75
JPMorgan 7,496.78 11.42
Wells Fargo 4,540.31 6.92
CCRE 4,474.33 6.82
Morgan Stanley 4,312.62 6.57



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