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

Sunday, 24 March 2002

West Regional Digest (3/25/02): Shorenstein Vet Raises $100Mln Investment Fund

Written by 
Rate this item
(0 votes)
March 25, 2002

Shorenstein vet strikes out on his own
San Francisco Business Times

SAN FRANCISCO – Former Shorenstein Co. acquisition specialist John Grassi has raised about $100 million for his new investment fund and is looking at properties in the Bay Area, Seattle, Boston, Northern Virginia and Austin, Texas. Grassi's small circle of investors at Spear Street Capital is a blend of institutions and high-income individuals who are looking to diversify into real estate. The fund's opportunistic goal is to take advantage of the tech wreck's effect, which has left many Class-A buildings with downtrodden valuations.


California Bank & Trust provides $16.5Mln in financing for Calif. apartments

RIVERSIDE, Calif. – California Bank & Trust has provided permanent financing for the 208-unit Estancia Apartments that was developed by Sares-Regis Group. The five-year mortgage was arranged by L.J. Melody's Newport Beach, Calif. office. The community at 7871 S. Mission Grove Parkway was built in 2001 and includes parking garages.


Developer swaps Emeryville, Calif., office plan for condo scheme
San Francisco Business Times

EMERYVILLE, Calif. – Levin Menzies and Associates wants to scrap its proposed 53,750-square-foot, five-story office building for a 72-unit condo project at the former Electro Coatings Inc. at 1401 Park Ave.


Unico ready to make own moves
Puget Sound Business Journal (Seattle)

SEATTLE – Unico Properties Inc. has negotiated a deal with the University of Washington that allows the company to develop, acquire and manage property on its own inside the city limits. The change means Unico, which in recent years has acquired prominent buildings from Boise to San Francisco, can now pursue deals on its home turf. For nearly a half-century, Unico had been prevented from such activities by a conflict-of-interest clause in its contract to oversee UW's 10-acre Metropolitan Tract in downtown Seattle. The new arrangement keeps Unico from operating on its own in the downtown core, but lets the company begin pursuing projects elsewhere, in neighborhoods including the University District, South Lake Union, Belltown, Fremont and Capitol Hill.


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


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: West Regional Digest (WDIG)
Read 449 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