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

Friday, 31 July 2020

Suburban Minneapolis HQ Property Sells for $52.125Mln; Gets $26.6Mln Loan

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Virtus Real Estate Capital has paid $52.125 million, or $110.13/sf, for the UnitedHealth Group Optum Campus, a 473,325-square-foot office complex in the Minneapolis suburb of Eden Prairie, Minn.

The Austin, Texas, investment manager, which pursues investments in niche properties, particularly those that it expects will benefit from an aging population, bought the two-building property, at 13625 and 13675 Technology Drive, from an affiliate of Angelo, Gordon & Co., which had purchased it from United Healthcare in 2011.

United Healthcare had acquired the 19-year-old property earlier in 2011 from ADC Telecommunications Inc., which had used...





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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
  • Cities: Minneapolis
  • States: Minnesota
  • Sector: Office
  • Subject: Mortgages/Financing (MOR), Property Acquisitions (ACQ)
  • Deal Name: Morgan Stanley Capital I Inc., 2020-HR8
  • Valuation: Between $50 million and $100 million
  • Private: Yes
  • bloombergDealName: MSC 2020-HR8
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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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