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Thursday, 07 February 2002

West Regional Digest (2/8/02): Phoenix's Crowne Plaza Faces Foreclosure

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February 8, 2002

Phoenix's Crowne Plaza faces foreclosure
Arizona Republic

PHOENIX – Downtown's Crowne Plaza Hotel, hurt by a decline in business after Sept. 11, faces foreclosure after falling behind in its loan payments by $1.35 million. Crowne Plaza Managing Director Steve Cohn has sued the lender, claiming that the terms of repaying the delinquent $19 million loan are unreasonable given the economic climate after the terrorist attacks. The 533-room Crowne Plaza, one of two vital downtown convention hotels, is open, and industry observers say they expect it to continue operating. The lenders, Lennar Partners Inc. and First Union National Bank, did not return calls. The Crowne Plaza has a history of financial troubles, including delinquent tax and water bill payments to the city.

New Panattoni project already leased in Sacramento
Sacramento (Calif.) Bee

SACRAMENTO, Calif. – Panattoni Development Co. will build a distribution center for United Stationers Supply Co., which signed a 10-year lease for the complex. Panattoni will develop the 267,0000-square-foot center at its Antelope West Business Park on Roseville Road near Antelope Road. The lease is valued at about $11 million.

Construction on $10Mln HQ building for electronics firm begins in Calif.
San Diego Union Tribune

CHULA VISTA, Calif. – Hitachi Home Electronics America has begun construction on a $10 million building in the EastLake Business Park that will be the division's North American headquarters. The 85,000-sf building in Chula Vista will house administrative offices, lab space and a large showroom for national and international vendors to view and test Hitachi products.

HomeStreet provides $6.5Mln for purchase of Portland, Ore., office/retail building

PORTLAND, Ore. – HomeStreet Capital has provided $6.5 million in financing for the acquisition of the New Market Theater office and retail building at 120 S.W. Ankeny St. in the Old Town Historic District. The 64,000-sf historical mixed-use building was originally constructed in 1872 to house a pedestrian marketplace and Victorian theater. The property is being acquired by Fountain Village Development Company, which owns the adjoining Fountain Village Building.

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Additional Info

  • Syndicate to Realpoint: No
  • Subject: West Regional Digest (WDIG)
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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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