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

Tuesday, 05 February 2002

West Regional Digest (2/6/02): JMI Rethinking $164.5Mln Hotel/Condo Project in San Diego

Written by 
Rate this item
(0 votes)
February 6, 2002

JMI resuscitates $164.5Mln hotel/condo project in San Diego
San Diego Union Tribune

SAN DIEGO – JMI Realty plans to resuscitate a $164.5 million hotel and condo project in the Padres ballpark redevelopment area. Omni Hotels has agreed to become a partner in the East Village hotel. Omni will operate the hotel and provide $26 million in equity. But Omni's participation is contingent on the city of San Diego's issuance of bonds to restart construction of the long-stalled ballpark, which has a price tag of $450 million. The hotel, to be built near the intersection of Sixth Avenue and L Street, is to rise 32 stories and contain 512 rooms. The top 11 floors are to contain 37 luxury condominiums – each with a planned sale price in excess of $1 million. A bridge will connect the hotel to the Padres' new ballpark.

$25Mln townhouse project planned for Westminster, Colo.
Denver Rocky Mountain News

DENVER – A sluggish economy isn't keeping a local development team from building a $25 million townhome project in the Ranch housing community in Westminster. The Ranch Creek Villas at W. 120th Ave. and Federal Boulevard will include 136 units priced from $165,000 to $200,000. The partnership includes principals from the Vintage Marketing Group and Loup Development. Loup was the original developer of the Ranch about 30 years ago, before it was sold to Phil Winn and Jim Nicholson in the early 1980s. The site is about a 10-minute drive from the Interlocken Business Park in Broomfield.

A&B begins construction of $47Mln townhouse project in Hawaii

KO OLINA, Hawaii – Armstrong Kai Lani Corp. and A&B Properties have begun construction on a $47 million, 116-unit townhouse condo project, called Kai Lani at Ko Olina. Construction, which is planned for three phases, will be completed in three years.

Principal Commercial provides $15.5Mln for Tempe, Ariz., office center

TEMPE, Ariz. – Principal Commercial Funding has provided $15.5 million for the Elliot Corporate Center, a two-story, multitenant office facility totaling 222,5000 square foot. L.J. Melody arranged the funding on behalf of Crown-Phoenix LLC.

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


“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: West Regional Digest (WDIG)
Read 426 times

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





  • 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