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Monday, 01 April 2002

Mid-Atlantic Regional Digest (4/2/02): Towers project gaining in Hoboken, NJ

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April 2, 2002

Towers project gaining in Hoboken, N.J.
The Jersey Journal

HOBOKEN – The $45 million Gateway Towers project appears back on track after flooding issues and legal battles threatened to derail construction of the two, 17-story residential towers at 101 Marshall St. Now developer Manhattan Building Co. and sewage officials are optimistic the project will proceed as planned. The project, which includes a seven-story, 431-car parking deck, will be built on a 77,500-sf lot at the foot of the Palisades in the city's southwest corner. It is adjacent to the future site of Hoboken's Second Street Hudson-Bergen Light Rail Transit System station, which should be up and running in about one year.

New hotel gives NJ capital a needed shot in the arm
The Bergen (N.J.) Record

TRENTON, N.J. – A 197-unit Marriott hotel is scheduled to open near the State House in Trenton, giving the city a hotel for the first time in 16 years. Trenton was the only state capital in the country that did not have a place for visitors to stay. In fact, guests end up staying in neighboring communities or across the Delaware River in Pennsylvania. What had been Trenton's only hotel, the 15-story Capital Plaza, a block from the state capitol, closed in 1985 because of a lack of business. To get the hotel built, Trenton had to form its own development corporation and guarantee about $50 million in bonds to finance the project. The Marriott Corp. will manage the hotel, which in effect is owned by the city of Trenton.

Local developers buy 80 acres in Sparks, Md., for offices
The Baltimore Sun

SPARKS, Md. – Bankrupt Integrated Health Services Inc. has sold nearly 80 acres that were part of its campus to two local developers who plan to build offices. Cignal Corp. paid $1.8 million for about 24 acres, on which it plans to build three four-story office buildings on the 10 acres of usable land. The remainder of the parcel is wooded or designated open space. Partners Management Co., a real estate investment company owned by the Knott family, paid $4.9 million for about 54 acres, of which 36 acres are usable. The parcels are among the last available in northern Baltimore County that are zoned for commercial development and have infrastructure in place. IHS bought the land in 1997 for $6.2 million, or about $425,000 below the $6.625 million price it just got for the two parcels. The bankruptcy court has approved sale of land, which was on the market for two years. Both sales closed in March.


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Additional Info

  • Syndicate to Realpoint: No
  • 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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