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

Monday, 10 January 2011

Crow Holdings Pays $121Mln for Alexandria, Va., Hilton

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A fund sponsored by Crow Holdings has paid $121 million for the 496-room Hilton Alexandria Mark Center in Alexandria, Va. 

Amstar Group sold the 30-story property. It had purchased it in 2005 for $93.1 million and invested another $9.3 million in a renovation the following year.

Crow bought the property through Crow Holdings Realty Partners V, a fund launched in 2008 through which it raised $951 million of equity commitments, including $150 million from Crow itself, for value-add and opportunistic investments.

The property contains about 45,000 square feet of meeting space, and is next to two office towers that will contain about 1.4 million sf when completed.

It is encumbered by $60 million of debt that was securitized through JPMorgan Chase Commercial Mortgage Securities Corp., 2006-FL1. The loan matures in June.

Davidson Hotel Co., which was Amstar's partner during its ownership, will continue to manage the property.

The hotel's sale was brokered by Molinaro Koger.

Comments? E-mail Anita Nolan or call her at (267) 247-0112, Ext. 212.



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Additional Info

  • Syndicate to Realpoint: No
  • Cities: Alexandria
  • States: Virginia
  • Sector: Hotel & Resort
  • Subject: Property Acquisitions (ACQ)
  • Deal Name: JPMorgan Chase Comm Mtg Sec Corp. 2006-FL1
  • Valuation: Between $100 million and $150 million
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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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