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Tuesday, 13 February 2018

Liberty Pays $92.7Mln for Suburban Los Angeles Industrial Property

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Liberty Property Trust has paid $92.7 million, or about $231.65/sf, for an industrial building in the City of Commerce, Calif., a Los Angeles suburb.

JLL and Cushman & Wakefield brokered the deal on behalf of Liberty, a Malvern, Pa., REIT. The seller was not disclosed.

The 400,169-square-foot property, at 5959 Randolph St., is fully leased.

Liberty's portfolio in Southern California consists of 16 buildings totaling 3.7 million sf. Last year, it invested $176.3 million in acquisitions and developments in the area.

Its acquisitions in 2017 included a 702,668-sf industrial building at 1221 North Alder Ave. in Rialto, Calif., which it bought for $94.2 million, and a 210,710-sf warehouse and distribution center at 16325 Avalon Blvd. in Carson, Calif., which it purchased for $46.3 million.

Meanwhile, the REIT is developing a 156,263-sf building at 9724 Alabama St. in Redlands, Calif., which is its first industrial project in Southern California. The property is expected to be completed later this quarter.

Liberty owned 574 properties with 101.6 million sf as of the end of last year. Its portfolio at the time consisted of 94.2 million sf of industrial space and 7.4 million sf of offices. The REIT expects to sell its remaining suburban office holdings this year.

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



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Additional Info

  • Syndicate to Realpoint: No
  • Cities: Los Angeles
  • States: California
  • Sector: Industrial
  • Subject: Property Acquisitions (ACQ)
  • Company: Liberty Property Trust
  • Valuation: Between $50 million and $100 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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