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Sunday, 12 May 2002

Mid-Atlantic Regional Digest (5/13/02): <I>Washington Post</I> Column: Past Recession Taught Surviva

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May 13, 2002

Past recession taught survival skills
The Washington Post

Commercial real estate, for all its troubles in this economic downturn, is not nearly as bad off as it was in the early 1990s, when the commercial real estate market collapsed. More stringent financing terms and more diligent leasing of buildings – before they are built – has saved Washington's commercial real estate market from the kind of disaster it had in 1992. "Our business is not as flamboyant as it was," said Mitchell Schear, president of Kaempfer Co., a leading Washington developer. "It's more institutionally driven. It used to be you could build a story on the promise of the future. Today it's based on reality. Now we're boring. But we're making money."


Environmentally friendly apartments under way in Silver Spring, Md.
The Washington Times

SILVER SPRING, Md. – The Tower Cos. broke ground last month on the Blair Towns, an environmentally friendly apartment complex in downtown Silver Spring and the first new apartments in that area since 1990. The Blair Towns will be an 80,000-square-foot complex with 78 units. The $17 million project will be built near the Blairs, a 27-acre complex with 1,300 apartments near the Silver Spring Metrorail station. The Blair Towns will feature an energy system that is 30 percent more efficient than systems used in most apartment buildings, as well as special glass windows that reduce noise and glare. In addition, the project will use low-toxin paints, sealants, adhesives and carpeting.


Greenberg to spend $11Mln on Burwood Plaza project in Linthicum, Md.
The Baltimore Business Journal

LINTHICUM, Md. – Ervin L. Greenberg Commercial Corp. is buying the aging Burwood Plaza Shopping Center, and plans to invest about $11 million to redevelop the property. The developer's plans call for two phases of construction that will add as much as 35,000 sf of retail space, a Food Lion supermarket anchor and possibly five restaurants on the perimeter of the center by next year. Greenberg is purchasing the 125,000-sf property on Baltimore-Annapolis Boulevard from Admiral Management Co. of Owings Mills. The company plans to rename the property Burwood Village Center.


Exxon narrows search for Canton developer
The Baltimore Business Journal

BALTIMORE – Exxon Mobil Corp. has narrowed the field of developers competing for the company's coveted land in Canton. Original bids for the 75-acre site along Boston Street were due April 15. After evaluating the offers, Exxon has invited some developers to submit a second round of bids.


Will Smith's company sells Old City property
The Philadelphia Business Journal

PHILADELPHIA – Actor Will Smith and his brother Harry have unloaded an office building that the duo bought just a year ago. The brother's Treyball Development Corp. sold the Unite Building at 27-41 S. Fourth St. for an undisclosed amount to High Tech High Philadelphia, a charter school. Treyball had bought the property from the Union of Needle Trades Industrial & Textile Employees of New York. The 64,000-sf property sits across from The Bourse shopping and office complex. Two other Smith projects, a W Hotel and an entertainment and media complex on the south end of the Avenue of the Arts, also have fallen by the wayside in recent times.


Pittsburgh's redevelopment authority's spending under scrutiny
The Pittsburgh Business Times

PITTSBURGH – Some local observers claim the Urban Redevelopment Authority has paid inflated prices on two properties in the Fifth and Forbes area, which could make the transformation of the tattered retail district a pricier proposition. The city has "set up the dynamic" for exorbitant pricing in the corridor, said Patty Maloney, executive director of the Golden Triangle Community Development Corp. While it has been a common complaint of the city that downtown owners want too much for their property, she said that the prices the URA is paying contribute to the problem. URA director Mulugetta Birru defended the purchases.


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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

  • 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), Property Acquisitions (ACQ)
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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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