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Monday, 30 July 0007

$510Mln Briny Breezes Deal Falls Through

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South Florida Business Journal

The $510 million sale of Briny Breezes, a 43-acre trailer park in Palm Beach County, Fla., has been cancelled. Last December, Ocean Land Investments made an offer to buy the property and redevelop it into a high-end mixed use resort. A month later, shareholders approved the sale, guaranteeing each owner in the development about $1 million. But Briny Breezes' board of directors rejected a proposal to extend Ocean Land's due diligence period. The developer sought the extension, to Sept. 28, in order to iron out compatibility issues with neighboring communities. The state of Florida had concerns over Briny Breezes' redevelopment and how it would impact the park's neighbors.



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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:

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Additional Info

  • Syndicate to Realpoint: No
  • Cities: Miami
  • States: Florida
  • Sector: Multifamily
  • Subject: Property Offerings (OFF), Southeast Regional Digest (SEDIG)
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Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners
Private-Label CMBS - FY2014
Inv Bank #Deals Bal $mln MktShr%
Deutsche Bank 27.1  23,479.37 26.3
JPMorgan 18.6  13,752.01 15.4
Wells Fargo 17.2  13,085.05 14.6
Goldman Sachs 9.0  7,896.25 8.8
Citigroup 9.1  7,526.97 8.4

 

 

MOODY'S/RCA CPPI

 

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Top Loan Contributors
Private-Label CMBS FY2014
Lender Vol $mln MktShr%
Deutsche Bank 14,005.13 16.0
JPMorgan 11,440.63 13.0
Wells Fargo 5,849.16 6.7
CCRE 5,750.69 6.6
Citigroup 5,604.13 6.4

 

 

 

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