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Thursday, 20 April 2017

Morgan Stanley Leads $363.7Mln of Financing Against Apartment Portfolio

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Lenders led by Morgan Stanley have provided $363.7 million of floating-rate financing against a portfolio of six apartment properties with 1,529 units in six states.

The loan, which has a term of up to five years, was arranged by CBRE Capital Markets' debt and structured finance team. Pieces were syndicated among New York Life Insurance Co. and Metropolitan Life Insurance Co.

The properties in the portfolio were developed over the past couple of years by a venture led by Mill Creek Residential Trust, a Dallas apartment developer founded six years ago by former executives of Trammell Crow Residential. Rockwood Capital is an investor in the venture.

The properties are:

- Modera Glendale, with 235 units at 610 North Central Ave. in the Los Angeles suburb of Glendale, Calif.;

- Modera Lofts, with 366 units at 350 Warren St. in Jersey City, N.J.;

- Modera Douglas, with 262 units at 3760 Bird Road in Miami;

- Modera Mosaic, with 251 units at 2920 District Ave. in the Washington, D.C., suburb of Merrifield, Va.;

- Modera Natick Center, with 150 units at 82 North Main St. in Natick, Mass., and

- Modera Flats, with 265 units at 1755 Wyndale St. in Houston.

Comments? E-mail Josh Mrozinski or call him at (267) 247-0112, Ext. 213.


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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
  • Sector: Multifamily
  • Subject: Mortgages/Financing (MOR)
  • Valuation: More than $150 million
  • Private: No
Read 613 times Last modified on Thursday, 31 August 2017

Data Digest







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




cppichart FP



CMBS 2.0 Spreads


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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