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

Thursday, 03 January 2013

TIAA-CREF Pays $60Mln for Manhattan Retail Building

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TIAA-CREF has paid $60 million, or roughly $1,000/sf, for a 60,000-square-foot retail building at 1511 Third Ave. in Manhattan's Upper East Side.

Massey Knakal Realty Services had offered the building for sale on behalf of Related Cos., which had purchased it in 2002 for $23.4 million, or $390/sf, for the property in 2002. It had financed its acquisition with a $20 million loan that was securitized through GE Capital Commercial Mortgage Corp., 2002-3. That loan was paid off last August with proceeds of a $20...





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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

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Additional Info

  • Syndicate to Realpoint: No
  • Cities: New York City
  • States: New York
  • Sector: Retail
  • Subject: Property Acquisitions (ACQ)
  • Company: Teachers Insurance and Annuity
  • Valuation: Between $50 million and $100 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
Private-Label CMBS - 9Mos2014
Inv Bank #Deals Bal $mln MktShr%
Deutsche Bank 26.0 19,675.34 29.5
JPMorgan 12.1 8,678.41 13.0
Wells Fargo 15.1 8,504.57 12.8
Goldman Sachs 7.0 5,740.15 8.6
Citigroup 9.3 5,337.91 8.0

 

 

MOODY'S/RCA CPPI

 

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Top Loan Contributors
Private-Label CMBS 9Mos2014
Lender Vol $mln MktShr%
Deutsche Bank 11,647.54 17.75
JPMorgan 7,496.78 11.42
Wells Fargo 4,540.31 6.92
CCRE 4,474.33 6.82
Morgan Stanley 4,312.62 6.57

 

 

 

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