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

Sunday, 06 August 2000

West Regional Digest (08/07/00): Seattle apartment complex fetches $32 Mln

Written by 
Rate this item
(0 votes)
August 7, 2000

Industry news: Seattle apartment complex fetches $32 Mln
The Puget Sound Business Journal (Seattle), August 7

SEATTLE – Glen Park Associates LLC has bought the 464-unit Glen Park apartment complex in Federal Way for $32.15 million, according to Jones & Murphy Inc., which coordinated the deal. King County property records identified the seller as Bear Capital.


Immunex to buy Pier 89 parcel
The Puget Sound Business Journal (Seattle), August 7

SEATTLE – Immunex Corp. has agreed to buy a portion of the property commonly known as Pier 89, immediately west of the 29-acre site where the Seattle biotechnology company plans to break ground next year on its $450 million waterfront campus. An Immunex spokeswoman declined to identify the specific parcel, but others familiar with the deal said it involves a two-acre site occupied by PhotoWorks Inc. toward the middle of the pier. That property and another are sandwiched between two pieces of land at opposite ends of the pier, each of which was acquired within the past year by partnerships assembled by Denver investor Charles Wathen. Wathen acknowledged that he had sought for "the past several years" to buy the Pier 89 parcel Immunex has agreed to acquire. David Alexander of Alexander Commercial Real Estate is representing Immunex in the pending deal.


Woodmark Hotel in Kirkland, Wash., to be renovated
The Eastside Business Journal (Seattle), August 7

KIRKLAND, Wash. – MTM Management, the Seattle-based company that manages the Woodmark Hotel, located at Kirkland's Carillon Point, say that the 100-unit hotel will undergo a major renovation. No exact budget or timetable has been set for the process.


Pac Bell Net center heads to San Ramon
The East Bay Business Times, August 7

SAN FRANCISCO – SBC Communications Inc., the parent company of Pacific Bell, plans to move its Internet Service division across the Bay to Bishop Ranch in San Ramon by the end of the year. The Internet division is currently scattered across seven stories in two towers on Second Street in San Francisco. SBC will occupy the top three floors of a five-story office building in Sunset Development Co.'s business park, taking a total of 145,000 sf in the 585-acre park. The remaining 55,000 sf will be occupied by ASI, another subsidiary of SBC that handles digital subscriber line (DSL) communications.


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: Property Acquisitions (ACQ), West Regional Digest (WDIG)
Read 508 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