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Friday, 17 February 2012

Mesa West Lends $41.2Mln for 3 Retail Centers

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Mesa West Capital has provided $41.2 million of mortgage financing for three shopping centers, in Scottsdale, Ariz., and Portland, Ore., that are owned by Karlin Real Estate.

The collateral properties are Shea Scottsdale and Shea Scottsdale East, adjoining centers in Scottsdale with a total of 277,000 square feet that are anchored by Safeway, CVS Pharmacy and Harkins Theaters, and Willamette Marketplace, with 61,604 sf in Portland that is 44 percent leased.

Karlin, a Los Angeles investment manager, had purchased the two Scottsdale properties late last year for $50.3 million from a venture led by Herberger Enterprises Inc. They are 85 percent leased.

And it bought the Willamette property for $10 million. It initially was slated to buy what had been $15 million of debt against the center, but ended up buying the property, which its lender, Inland Mortgage Capital Corp. had taken through foreclosure. The four-year-old property has 36,632 sf of retail space and 24,972 sf of office space. Its tenants include Five Guys Burgers and Legacy Health Systems.

Comments? E-mail Orest Mandzy, or call him at (267) 247-0112, Ext. 211.



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Additional Info

  • Syndicate to Realpoint: No
  • Cities: Phoenix, Portland
  • States: Arizona, Oregon
  • Sector: Retail
  • Subject: Mortgages/Financing (MOR)
  • Valuation: Between $25 million and $50 million
Read 4839 times Last modified on Tuesday, 03 July 2012

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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