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Wednesday, 20 March 2002

West Regional Digest (3/21/02): TA Associates Buys Sacramento Office Park

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March 21, 2002

TA Associates buys Sacramento office park
Sacramento Bee

SACRAMENTO, Calif. – TA Associates Realty has purchased five buildings and about 16 acres of land at Highway 50 and Watt Avenue for a reported $35 million-plus. The sale of the California Center business park was seen as cause for optimism in the midst of a slow start for the office investment market around the capital. The combination of mostly leased offices and developable land can accommodate about 250,000 square feet, including offices and a hotel. The seller was the Oregon Public Employees Retirement Fund.

Two lenders want Phoenix hotel to change managers
Arizona Republic

PHOENIX – Attorneys for the lenders argued Wednesday before U.S. Bankruptcy Court Judge Eileen Hollowell that the lenders should be allowed to hire their own management company to operate the 533-room convention hotel. Steve Cohn, Crowne Plaza's managing director, heads the current management team. Crowne Plaza filed for Chapter 11 bankruptcy protection a month ago after the lenders, Lennar Partners Inc. and First Union National Bank, foreclosed on the hotel in early February. The hotel remains open despite a $1.35 million delinquency on a $19 million loan obtained two years ago. Cohn blames the hotel's financial troubles on a steep loss of business after Sept. 11.

Developer asks for fourth extension for convention center hotel
Denver Post

DENVER – Bruce Berger Realty, developers of a proposed convention center hotel downtown, have asked the city leaders for a fourth extension to reach a development agreement. The executive director of the Denver Urban Renewal Authority told Denver City Council members that the agency would not have an agreement with the developer by March 31, the current deadline. The developer and the authority need an additional 45 days because Hyatt Hotels and Resorts, which planned to operate the hotel, is now considering an option to become the owner if Berger can't develop it. DURA and the developer have failed for more than a year to set the terms that would guide construction of the 1,100-room hotel.

Developer buys retail strip in Boulder, Colo.
The Daily Camera (Boulder, Colo.)

BOULDER, Colo. – Local developer Stephen Tebo has purchased the Boulder Plaza between Arapahoe Avenue and Canyon Boulevard on 28th Street. The property was listed for $24.6 million by Macerich in October.

WLA buys Norwalk, Calif., business park

NORWALK, Calif. – WLA Investments has purchased Voit Development Co.'s Imperial Business Park at Carmenita and Pumice Streets. Voit Commercial Brokerage's Anaheim Metro office represented Voit Development Co. The 111,040-sf business park built is comprised of five multitenant buildings.

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


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Additional Info

  • Syndicate to Realpoint: No
  • Subject: Property Acquisitions (ACQ), 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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