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Tuesday, 29 December 2009

Colony Team Pays 72 Percent of Par for Commercial Mortgages

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Colony Capital and a REIT it recently formed have paid $150 million for two portfolios of commercial mortgages with a balance of $208 million.

The Los Angeles investment manager purchased the 36 loans, all but one of which are classified as performing, from an insurance company and a bank which it did not identify.

The company's recently /index.php?option=com_content&task=view&id=62882&Itemid=128

formed mortgage REIT, Colony Financial Inc., acquired a 37.3 percent stake in the portfolios, paying $56 million.

The loans have a weighted average maturity of 89 months and have seasoned for a weighted average of 31 months. Colony said its purchase would generate an unleveraged cash yield of 10.3 percent. The loans are backed by retail, office and industrial properties, as well as one hotel, scattered across 14 states.

Colony's REIT, which went public in September, has invested, or committed to invest $151 million, or 55 percent of the $274.5 million of net proceeds from its initial public offering. It previously committed to invest in the acquisition of First Republic Bank. And it also provided a chunk of the financing that Colony had provided to homebuilder William Lyon Homes of Newport Beach, Calif.

Comments? E-mail Orest Mandzy or call him at (267) 247-0112, Ext. 211.



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Additional Info

  • Syndicate to Realpoint: No
  • Subject: Loan Offerings (LOAN), Property Acquisitions (ACQ)
  • Deal Name: Bear Stearns Commercial Mortgage Securities Trust, 2006-PWR12
  • Company: Colony Capital Inc.
  • Valuation: More than $150 million
Read 186 times Last modified on Monday, 13 September 2010

Data Digest

 

CMBS Deliquency Volume

dqdataFP1

 

CMBS Special Servicing Volume

sschartfp

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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