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

Monday, 16 March 2015

Sale of Belnord Seen Resulting in Loss to CMBS Deal

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Commercial Real Estate Direct Staff Report

The $575 million proposed sale of the apartment component of Manhattan's Belnord property at 225 West 86th St. will likely result in a $20.6 million loss to the CMBS trust that holds a $375 million mortgage against the property, according to analysis by JPMorgan Securities.

As reported, HFZ Capital Group has struck a deal to buy the property's 226 apartment units. Extell Development Co., which owns the property, is keeping its commercial space.

The loan against the property is securitized through JPMorgan Chase Commercial Mortgage Securities Trust,...





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“The Weekly”

“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

  • Industry moves and changes in “The Insider“

Additional Info

  • Syndicate to Realpoint: No
  • Cities: New York City
  • States: New York
  • Sector: Multifamily
  • Subject: Commercial MBS (CMBS), Property Acquisitions (ACQ)
  • Deal Name: JPMorgan Chase Commercial Mortgage Securities Corp., 2006-LDP9
  • Private: Yes
  • bloombergDealName: JPMCC 2006-LDP9
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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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