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Monday, 13 February 2017

Meridian Group Raises $231.6Mln for Latest Value-Add Fund

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Meridian Group has raised $231.6 million for its second real estate investment fund.

The Bethesda, Md., investment manager got the ball rolling on the fund just less than two years ago, after it had raised $160 million of equity commitments for its first fund. Meridian also had raised some $510 million of co-investment capital for its initial fund, which is ultimately expected to generate investments with a total capitalization of some $1.8 billion.

The latest fund, Meridian Realty Partners II LP, includes a co-investment vehicle through which another $80 million was raised. Because the capital will be leveraged, and additional co-investment capital could be used, it could be used to make some $1.5 billion of investments. So far, it's deployed some $400 million of capital.

For instance, last summer it bought International Place, a 293,539-square-foot office property in Rosslyn, Va., for $106.5 million. It's renovating and...





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“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:

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Additional Info

  • Syndicate to Realpoint: No
  • Subject: Institutional Investment (INS), Opportunity Funds (OPPY)
  • 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 - 2016
Investment Bank #Deals Vol$mln MktShr%
JPMorgan Securities 14.94 10,350.16 15.14
Deutsche Bank 14.21 9,926.60 14.52
Wells Fargo Securities 13.36 9,513.96 13.92
Citigroup 10.87 8,061.79 11.80
Goldman Sachs 10.05 7,563.72 11.07

 

MOODY'S/RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2016
Lender #Loans Vol$mln MktShr%
JPMorgan Chase Bank 133.67 8,670.33 13.34
Goldman Sachs 156.20 7,418.37 11.41
Deutsche Bank 178.17 6,510.75 10.02
Citigroup 184.41 5,512.20 8.48
Morgan Stanley 113.18 4,130.53 6.35

 

 

 

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