Daily market intelligence on mortgages, equity raising, investment sales, and CMBS.

Tuesday, 25 June 2019

RAF Pacifica Buys Carlsbad, Calif., Office Building for $20.2Mln

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RAF Pacifica Group has purchased Axis 1950, a 121,541-square-foot office building in Carlsbad, Calif., for $20.2 million, or $166.20/sf.

The Encinitas, Calif., office developer bought the property, at 1950 Camino Vida Roble, from an affiliate of Buchanan Street Partners, which had acquired it in 2015 for $19.5 million. The property is being rebranded as "fu*sion."

The building, formerly the Carlsbad Airport Corporate Center, is encumbered by an $11.9 million loan that's securitized through COMM, 2013-CR8. The loan carries a fixed rate of 4.56 percent and is locked out from prepayment until December 2022.

The loan was transferred to the deal's special servicer, LNR Partners, earlier this month due to imminent default, according to notes compiled by Trepp LLC....





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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:

  • Breaking mortgage, CMBS, and REIT news

  • Quarterly league tables with rankings of B-piece buyers, book runners, and lenders

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Additional Info

  • Syndicate to Realpoint: No
  • States: California
  • Sector: Office
  • Subject: Property Acquisitions (ACQ)
  • Valuation: Between $10 million and $25 million
  • 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 - 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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