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Wednesday, 14 July 1999

Southeast Regional Digest, July 15

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July 15, 1999

Board rejects office plan for five points
The Bradenton Herald, July 15

SARASOTA, Fla. – A proposed 14-story office tower in downtown Sarasota was dealt at least a temporary setback by the city's Planning board. The Five Points Tower, one of four sites that Tropicana Products is considering for new offices for 350 workers, would provide 197,752 square feet of office space at 1401 Main St., at Central Ave. The Wynnton Group of Columbus, Ga. may still proceed as planned if they can get approval by the Sarasota City Commission on August 16.
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Study suggests inner city markets underdeveloped
The News-Journal, July 15

DAYTONA BEACH, Fla. – A Department of Housing and Urban Development study concludes that retailers can find business opportunities by putting stores in low to moderate income neighborhoods. It called such areas "undiscovered territory for many businesses." In Daytona Beach, this untapped market is worth nearly $300 million a year.
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NationsBank tower sold
The Florida Times-Union, July 15

JACKSONVILLE, Fla. – The NationsBank tower in downtown Jacksonville was sold to a Miami-based developer as part of a $140 million portfolio of 24 properties that the bank owned in the Southeast. Formerly known as the Barnett Center, the 42-story, 660,000 square foot building is one of the city's most recognizable buildings. The Parmenter Co. purchased the building on Wednesday, along with two others in the Jacksonville area.
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What price the circle?
The Miami Herald, July 15

MIAMI – Developers of a 2.2-acre site in downtown Miami that was found to contain archaeological relics of the ancient Tequesta Indians wants $50 million to relinquish ownership of the property to Miami-Dade County. Developer Michael Baumann had planned a twin-tower 600-unit residential complex on the site.


AmSouth megadeal marches forward
Birmingham Business Journal, July 15

BIRMINGHAM – Despite stock drops, AmSouth Bancorporation's megadeal to acquire the Nashville-based First American Bank remains on track while looking toward closing the deal in the fourth quarter of 1999. While stock values did drop dramatically in June, officials with AmSouth say there is no cause for alarm, and the deal is still on track. This is the largest acquisition ever for AmSouth bank and will create the largest banking and financial presence in the southeast when completed with $40 billion in assets.
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Vanderbilt's Health 1-2-3 relocates to Brentwood
Nashville Business Journal, July 15

NASHVILLE – Vanderbilt University's managed health care company, Health 1-2-3 is leaving its downtown office space to take up residence in the new Westwood South office complex in Brentwood. With Health 1-2-3 joining the first leasee, Doane Pet Care Enterprises corporate office, officials at the complex say the building is now 90 percent leased. Health's existing space won't stand empty because the state of Tennessee plans to fill it.
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Tornado recovery boosts economy in Clarksville
Nashville Business Journal, July 15

CLARKSVILLE, Tenn. – The January tornado that ripped through Clarksville, though a tragedy, may have offered this downtown area a unique rebuilding opportunity and a chance to restore economic vitality to downtown, according to officials. At the center of the rebuilding is the new Gateway Center, a conference and exhibition complex scheduled to open in 2002. However, the tornado left behind building opportunities not thought of before.
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$55-mln condo indicates growth in Buckhead
Atlanta Business Chronicle, July 15

BUCKHEAD, Ga. – A local group plans to build a $55 million residential, luxury, high rise condominium complex here on Peachtree Road in the center of Buckhead, further indicating a resurgence of the condo market in Atlanta. The joint venture of Eagle Real Estate and Jebco Ventures, Inc. plan to capitalize on the selling points of Buckhead's shopping and nightclub districts within walking distance of the complex. Units are estimated to sell for $500,000 to $600,000 each.
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Atlanta developer raises $35 mln for new Hiltons
Atlanta Business Chronicle, July 15

ATLANTA – Hardin Capital LLCS, in an alliance with Hilton Hotels Corp., has attracted a multimillion-dollar investment, which could lead to yet another large development contract. In July Hardin Capital, an Atlanta-based hotel developer, completed a joint venture agreement with a Colorado investor as well as another firm from Denver which will be used to develop six Hilton Garden Inns worth $90 million.
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Atlanta Orchestra to get new hall
The Atlanta Journal-Constitution, July 14

ATLANTA – Arthur M. Blank Family Foundation has said it will give up to $15 million for a new Atlanta Symphony Orchestra hall on the site of the old First Baptist Church in midtown Atlanta. The hall would be part of BellSouth Corporation's new office development at the corner of Peachtree and Fifth Streets. The $113 symphony hall would require the ASO to raise $45 million in pledges by Aug. 19 to proceed. Arthur M. Blank is president, CEO and co-founder of Home Depot.
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Traffic, pollution hurt Atlanta's high-tech boom
The Atlanta Journal-Constitution, July 14

ATLANTA – A study released earlier this week says Atlanta's concentration of high-tech businesses will give its economy a head start as it approaches the millennium, but despite its listing as one of the "top 10 high-tech poles," Atlanta's technology jobs could be headed out of town unless the region's reputation, along with its traffic, smog and limited sewer and waste capacity is cleaned up.
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House votes $9.8 mln for Redstone laboratory
The Huntsville Times, July 14

HUNTSVILLE, Ala. – Huntsville Redstone Arsenal will get $9.8 million for a new lab and operations facility if the Senate approves a House appropriations bill recently passed. The new facility would pull together scattered laboratories and other operations facilities on the Arsenal, as well as increase safety and efficiency of operations, according to officials. The bill is expected to be on the president's desk by August 7, according to officials.


Telcordia Technologies buys Huntsville's Mesa Solutions
The Huntsville Times, July 14

HUNTSVILLE, Ala. – Telcordia Technologies announced this week that it has acquired the Huntsville-based Mesa Solutions and will continue to operate the Huntsville facility as its subsidiary. Mesa provides software services to the telecommunications and utility industries. Telcordia also provides software services, consulting and training to communications networks. Both companies are employee-owned. Telcordia is based in Morristown, NJ, and has grown since it's beginning in 1996. Telcordia has 6,000 employees with revenues of $1.2 billion.
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Jeopardized funding for Lockheed F-22 affects plant in Marietta
The Atlanta Journal-Constitution, July 14

MARIETTA, Ga. – A move in Congress which would cut initial production of the F-22 Lockheed fighter leaves the status of the Lockheed Martin plant in Marietta uncertain. Slated to be assembled in the Marietta plant, the F-22 is the plant's primary product. About 1,000 people work in the F-22 in Marietta where assembly line and test facilities are ready for production. The House subcommittee on defense appropriations chopped $1.87 billion from the $3 billion marked for funding the F-22 in the 2000 fiscal budget.
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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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