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

Friday, 04 January 2013

GFI Capital Pays $98.65Mln for 3 Kansas City-Area Apartment Properties

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GFI Capital Resources has paid $98.65 million for three apartment properties with 846 units in the Kansas City, Mo., area.

The three properties are: Villas at Carrington Square, with 278 units at 9801 West 136th St. in Overland Park, Kan.; as well as Carrington Place at Shoal Creek, with 270 units at 9300 Northeast 87th St. and Carrington Park, with 298 units at 8501 North Platte Purchase Drive, both in Kansas City, Mo. They were purchased from Davis Development of Atlanta, which had developed them.

GFI Capital, a New York company that provides a variety of real estate services and insurance products, purchased the properties through its Irongate Realty Partners unit, which has invested more than $230 million for eight properties with 2,115 units over the past 14 months.

Irongate Realty aims to pursue additional acquisitions of class-A and B+ properties in certain markets, such as South Florida, Eastern Tennessee, Charlotte, N.C., and coastal South Carolina with between 250 and 350 units each. It will also seek value-add opportunities in Georgia, Texas, Arizona and Nevada.

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



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Additional Info

  • Syndicate to Realpoint: No
  • Cities: Kansas City
  • States: Missouri
  • Sector: Multifamily
  • Subject: Property Acquisitions (ACQ)
  • Valuation: Between $50 million and $100 million
  • Private: No
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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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