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

Thursday, 14 March 2019

TruAmerica Buys Apartment Properties in Denver, Suburban Orlando for $126.25Mln

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TruAmerica Multifamily has purchased a pair of apartment properties with 584 units in Denver and suburban Orlando, Fla., for a total $126.25 million.

The Los Angeles investment manager paid $72.25 million, or $231,570/unit, for the 312-unit Loretto Heights apartments at 3400 South Lowell Blvd. in Denver, and $54 million, or $198,529/unit, for the 272-unit Legends at Lake Mary at 700 Oakland Hills Circle in Lake Mary, Fla., which is north of Orlando. It funded both purchases with mortgages from Freddie Mac.

It bought the Loretto Heights property from Bascom Group, which had acquired it seven years ago for $32.6 million. The property's latest sale was brokered by HFF. And the Legends at Lake Mary property was purchased from an affiliate of Rock Cos of Bloomfield, Mich., which was represented by NKF Capital...





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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:

  • Breaking mortgage, CMBS, and REIT news

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Additional Info

  • Syndicate to Realpoint: No
  • Cities: Denver, Orlando
  • States: Colorado, Florida
  • Sector: Multifamily
  • Subject: Property Acquisitions (ACQ)
  • Valuation: Between $100 million and $150 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 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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