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

Tuesday, 14 May 2002

Mid-Atlantic Digest (5/15/02): Va. Beach OKs Revised 31st St. Hotel Contract

Written by 
Rate this item
(0 votes)
May 15, 2002

Virginia Beach OKs revised 31st St. hotel contract
The Virginian-Pilot

VIRGINIA BEACH, Va. – After nearly a year of touchy negotiations with developers, the City Council on Tuesday narrowly approved a revised contract for a public/private partnership to build a luxury oceanfront resort, a parking deck and a park at 31st Street. The new agreement allows developers Bruce L. Thompson and Edmund C. Ruffin the option to own the land. The businessmen sought the new arrangement last spring after complaining that the previous contract was making it difficult to get loans to build the 300-room hotel. Under that contract, they could only lease the land.


Developer pulls request for rezoning in Elkridge, Md.
The Baltimore Sun

ELKRIDGE, Md. – A developer withdrew his request yesterday for industrial zoning on a contaminated parcel of Elkridge land, a proposal that had brought the community out en masse to protest. Peter Bosworth of the Baltimore-based Kenfield LLC had hoped to build an office and industrial park on 25 acres at Route 103 and Interstate 95. A former Superfund cleanup site, the residentially zoned property has too much arsenic, mercury and chromium in the ground for the Maryland Department of the Environment to give its approval for home building. Bosworth, who has MDE permission for nonresidential development, had been scheduled to appear before the Zoning Board tonight for continued hearings. Had he lost this case, he would have had to wait two years to try again. Now he can reapply any time.


WRIT continues string of dividend hikes
The Washington Business Journal

ROCKVILLE, Md. – Washington Real Estate Investment Trust is boosting its quarterly shareholder dividend by 6 percent, or 2 cents per share, to 35 cents. It is the 162nd consecutive quarterly dividend at equal or increasing rates. The company's dividends have increased every year for 32 consecutive years. WRIT dividends have increased 37 times in the past 32 years.


Ballard Spahr commits to 10-year lease in Baltimore

BALTIMORE – The large national law firm Ballard Spahr Andrews & Ingersoll LLP, has renewed its lease of 39,000 square feet of office space at 300 E. Lombard S. until 2012. In addition to the space currently occupied, the firm has expanded its offices to include an additional 10,000 sf. To date, the renewal represents the largest lease in Baltimore for 2002. Ballard has six offices located throughout the mid-Atlantic corridor and the western United States. Local brokerage Colliers Pinkard arranged the deal.


Column: The reality behind the dream for 30th Street
The Philadelphia Inquirer

PHILADELPHIA – Brandywine Realty Trust has proposed a 32-story office building by the 30th Street Station, a site whose redevelopment has been much hoped for by the city. But, the columnist warns, it would be a mistake to interpret those plans as meaning "the city is on a roll and that, therefore, Philadelphia doesn't have to worry so much about reforming its business-unfriendly tax and regulatory policies."


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


weekly-call-to-action

“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

  • Industry moves and changes in “The Insider“

Additional Info

  • Syndicate to Realpoint: No
  • Subject: Mid-Atlantic Regional Digest (MADIG)
Read 497 times

Data Digest

 

CMBS DELINQUENCY VOLUME

dqdataFP1

 

CMBS SPECIAL SERVICING VOLUME

sschartfp

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

 

cppichart FP

 

 

CMBS 2.0 Spreads

AAAspreads

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

 

 

 

REITCafe

  • Challenging Retail Environment Weights on REITs
    Mixed economic news is weighing on retail markets, pushing REIT performance down in 2015. This week, the National Retail Federation announced that back-to-school spending is expected to be down 9.3% in 2015. This news came on the heels of a report from the Commerce Department stating that retail sales declined 0.3%...
     
  • US REITs Feeling Effects from Turmoil in Greece and China
    International economic forces have taken center stage this week, affecting both US stock markets and REITs. The crash in the Chinese stock market and ongoing concerns about the future of Greece in the eurozone drove markets down during the first half of the week. REITs fared better than the overall market...

  • What Does Increased Construction Mean for Apartment REITs?
    REITs so far this year have raised $17.1 billion of capital through the sale of unsecured notes, bringing the total raised over the past two and a half years to just more than $75 billion. That’s more than they raised during the previous five years. The massive volume shouldn’t be a surprise as it comes while the yield from 10-year Treasury bonds, the benchmark...
shouldn’t be a surprise as it comes while the yield from 10-year Treasury bonds, the benchmark against which most REIT’s price their bonds
warehouse-backstage