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

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  • Freddie Mac Eyes Mezz Loans with Rental Restrictions

    Freddie Mac is developing a plan that would allow it to provide apartment-property owners more financing proceeds against properties where they agree to restrict rental increases. The plan is part of an effort the housing-finance agency is making to help preserve what it considers naturally occurring affordable properties.

    Written on Thursday, 22 February 2018 16:50 Read more...
  • California Alternative Lender Aims for Sharp Increase in Bridge Lending

    ABP Capital, a Southern California alternative lender that last year originated $200 million of loans, expects its lending volume to increase to as much as $350 million this year. The company, which has been originating and funding short-term and construction loans since 2012, writes loans from $5 million to $100 million.

    Written on Wednesday, 21 February 2018 16:19 Read more...
  • Kimco Plans to Sell $700Mln to $900Mln of Shopping Centers This Year

    Kimco Realty Corp. is planning to sell $700 million to $900 million of shopping centers this year as it makes an effort to reposition its portfolio. The New Hyde Park, N.Y., REIT is selling properties in smaller markets that are non-core, while retaining those in its core markets. It would use proceeds to fund its development and redevelopment activity.

    Written on Tuesday, 20 February 2018 16:12 Read more...
  • Oaktree Capital is Latest Institutional Investor to Launch Non-Traded REIT

    Oaktree Capital Management has launched a non-traded REIT, joining other institutional investors such as Blackstone Group, Starwood Capital Group and TH Real Estate in targeting retail investors. The Los Angeles company's Oaktree Real Estate Income Trust Inc. would target income-producing properties, real estate debt and real estate-related securities.

    Written on Friday, 16 February 2018 14:24 Read more...
  • New Orleans-Area Shopping Mall Brought to Sales Market

    The Esplanade, a 966,997-square-foot shopping mall in suburban New Orleans, is being offered for sale. And it's likely to get redeveloped by whoever buys it. The property had been owned by Simon Property Group, which gave up on it nearly five years ago. It recently lost its Macy's anchor.

    Written on Friday, 09 February 2018 14:28 Read more...
  • Liberty Selling Suburban Office Portfolio, Expanding Industrial Holdings

    Liberty Property Trust plans on completing its year-long repositioning effort this year and expects to sell its remaining suburban office holdings, using most of the proceeds to invest in industrial properties. It's aiming to sell from $600 million to $800 million of assets.

    Written on Thursday, 08 February 2018 10:12 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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