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Wednesday, 21 March 2018

Investment Manager Formed by Ken Cruse Buys Ariz. Apartments

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Alpha Wave Investors has paid $10.55 million, or $95,910/unit, for Orange Tree Village, a 110-unit apartment property in the Casas Adobe area of Tucson, Ariz.

The San Clemente, Calif., investment manager was formed by a team led by Kenneth E. Cruse, the former chief executive of Sunstone Hotel Investors Inc., who left the Aliso Viejo, Calif., REIT three years ago. He founded Alpha Wave with Jordan Fisher, a West Point graduate who previously had founded a web development company, and David Sloan, who previously was general counsel of Sunstone.

Since its founding, Alpha Wave has acquired a total of...





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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: Arizona
  • Sector: Multifamily
  • Subject: Property Acquisitions (ACQ)
  • Private: Yes
Read 428 times Last modified on Monday, 02 April 2018

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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