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

Thursday, 03 January 2013

CalPERS Venture, Simon Swap Stakes in Retail Properties

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Simon Property Group and Institutional Mall Investors, a venture of California Public Employees' Retirement System and Miller Capital Advisory Inc., have exchanged stakes in two retail properties that they had each previously fully owned.

Simon, an Indianapolis REIT, gave IMI a 49 percent stake in one of the properties, the Shops at Mission Viejo in Mission Viejo, Calif., in exchange for a 50 percent interest in the inline space of Woodfield Mall in Schaumburg, Ill.

The REIT has become a 51 percent stakeholder in the Mission Viejo property, whose 1.2 million square feet is anchored by Nordstrom and Macy's, and is IMI's equal partner in the inline space of the 2.2 million-sf Schaumburg Mall. The mall's anchor spots are owned by their...





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“The Weekly”

“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

  • Breaking mortgage, CMBS, and REIT news

  • Quarterly league tables with rankings of B-piece buyers, book runners, and lenders

  • Industry moves and changes in “The Insider“

Additional Info

  • Syndicate to Realpoint: No
  • Subject: Property Acquisitions (ACQ)
  • Company: Cal. Public Employees Retirement System, Simon Property Group
  • Private: Yes
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Data Digest

 

CMBS Deliquency Volume

dqdataFP1

 

CMBS Special Servicing Volume

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Top Bookrunners
Private-Label CMBS

1H2014

Investment Bank

#Deal

Bal $mln

Mkt
Shr%

Deutsche Bank

16.0

12,761.50

32.44

JPMorgan

6.10

4,856.29

12.35

Wells Fargo

8.11

4,790.00

12.18

Citigroup

4.33

3,750.65

9.54

Goldman Sachs

4.00

3,722.62

9.46

 

Moody’s/RCA CPPI

cppichartAFP

 

CMBS Pricing Matrix (Legacy AAA Spreads)

AAAspreadsFPa

 

Top Loan Contributors
Domestic, Private-Label CMBS - 1H2014

Lender

Vol $mln

Mkt
Shr%

Deutsche Bank

8,118.01

20.87

JPMorgan

4,486.83

11.53

CCRE

3,064.41

7.88

Citigroup

2,779.70

7.15

Goldman Sachs

2,604.85

6.70

 

 

 

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