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Tuesday, 30 April 2002

Mid-Atlantic Digest (5/1/02): Philly Seeking Developer for Naval Base Office Park

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May 1, 2002

Philly seeking developer for naval base office park
The Philadelphia Inquirer

PHILADELPHIA – The city has selected three major real estate firms to compete for the right to develop a 60-acre suburban-style office park just inside the main gate of the old Philadelphia Naval Base. The contest will be between two local real estate industry giants, Liberty Property Trust and Brandywine Realty Trust, and a Dallas firm that wants "a marquee project" as a springboard to increasing its presence here. The Texas rival is the far larger Lincoln Property Co., which owns the landmark Penn Mutual Towers across from Independence Hall and has major properties in many U.S. and European cities. The city said yesterday that it was seeking a developer to create about 800,000 square feet of office space in eight or nine buildings and then fill it with tenants.

Atlantic City targeting Vegas with hotel expansion
The Philadelphia Inquirer

ATLANTIC CITY – Tropicana Casino & Resort –the largest hotel in New Jersey – will add 502 rooms, upscale entertainment and shopping as it joins others here to position the city against Las Vegas. Las Vegas has 65,000 rooms, compared with 11,400 in Atlantic City, where the average occupancy rate was 93 percent last year.

Another delay in Penn's Landing complex?
The Philadelphia Daily News

PHILADELHIA – The deal carved in stone in December requiring developer Melvin Simon to begin construction by August on the long-delayed Penn's Landing entertainment complex may be turning to sand. Simon and other top executives from the Simon Property Group will meet tomorrow with Mayor Street and other stakeholders in the $329 million project. The official reason for the visit is proposed design changes. But sources say Simon and Richard Sokolov, president and chief executive officer of the Indianapolis-based shopping-center developer, will ask for an extension on the construction deadline. It won't be the first time.

Interest builds for Pittsburgh hotel project
The Pittsburgh Post-Gazette

PITTSBURGH – Forest City Enterprises is once again in pursuit of a convention center hotel. Last fall, Cleveland-based Forest City considered dropping the 500-room project after failing to reach a compromise on the hotel design. But Allegheny County Chief Executive Jim Roddey said yesterday that he had a "revised" offer from Forest City to build the hotel. The offer is similar to the company's last offer, although a little smaller. But Forest City is not the only hotel company competing for the convention center site. Hilton Hotels Corp., which owns the city's largest hotel near The Point, also has discussed the possibility.

Commercial Real Estate Direct provides links to full stories where available.


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  • Subject: Mid-Atlantic Regional Digest (MADIG)
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Data Digest







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




cppichart FP



CMBS 2.0 Spreads


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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