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Friday, 20 September 2019

JLL Originates $24Mln Freddie Loan Against Raleigh, N.C., Apartments

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JLL has originated a $24 million Freddie Mac mortgage against the 228-unit Olde Raleigh Apartments in Raleigh, N.C.

The 10-year loan, which has a floating rate, was written under the housing-finance agency's Green Advantage program, which provides for greater proceeds and lower costs if certain energy and water-saving upgrades are completed at the property.

Taurus Investment Holdings, a Boston investment manager, acquired the apartments two years ago for $33.5 million, or $146,930/unit.

Olde Raleigh, at 4000 Grand Manor Court, was built in 1994. The complex has one-, two- and three-bedroom units with stainless-steel appliances, plank flooring, washers and dryers and patios or balconies. It is 94 percent occupied and includes a clubhouse, business center, fitness center, swimming pool, dog park and barbecue area.

Monthly rents range from $963/unit to $1,475/unit. The complex is off of Interstate 40 and five miles from the main campus of North Carolina State University.

Comments? E-mail Tim Casey or call him at (267) 397-3347.



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Additional Info

  • Syndicate to Realpoint: No
  • Cities: Raleigh
  • States: North Carolina
  • Sector: Multifamily
  • Subject: Mortgages/Financing (MOR)
  • Company: Jones Lang LaSalle Inc.
  • Valuation: Between $100 million and $150 million
  • Private: No
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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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