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

Friday, 12 January 2018

Hudson Pacific Selling 4 California Office Properties for $254.8Mln

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Commercial Real Estate Direct Staff Report

Hudson Pacific Properties Inc. has agreed to sell four office properties with 367,487 square feet in California for $254.8 million.

The Los Angeles REIT is selling the properties in four separate transactions to buyers it did not identify. It expects the deals to close by the end of the month.

It's selling the 197,402-sf Embarcadero Place office campus in Palo Alto, Calif., for $136 million, or nearly $689/sf. The REIT in 2016 had carried the four-building complex, at 2100-2400 Geng Road, on its balance sheet at a value of $121.9 million.

It's also selling the 45,613-sf property at 2180 Sand Hill Road in Menlo Park, Calif., for $82.5 million, or about $1,808/sf. The four-story building is less than a mile from Stanford University and is fully leased to...





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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
  • States: California
  • Sector: Office
  • Subject: Property Acquisitions (ACQ)
  • Valuation: More than $150 million
  • Private: Yes
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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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