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Wednesday, 17 July 2019

Rich Uncles REIT Puts Self on Block; Sale to Sponsor Likely

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Commercial Real Estate Direct Staff Report

Rich Uncles REIT I, a non-traded REIT that was launched seven years ago by Ray Wirta, the former chief executive of CBRE Group, put itself on the block earlier this year and appears to be close to selling itself to its sponsor.

The company, which Wirta had launched with Harold Hofer, a long-time real estate professional, raises capital directly from investors, bypassing the broker-dealer channel. That allows it to plow just about all the money it raises from its investors into real estate. Traditional non-traded REITs typically raise capital through costly broker-dealers, which often means less than 90 percent of investor capital actually goes into investments.

As of the end of March, the company owned 20 retail, industrial and office properties in California, Texas 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: Mergers & Acquisitions (M&A), Property Offerings (OFF), REITS -general (REITS)
  • 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

 

 

 

REITCafe

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