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Wednesday, 06 March 2002

West Regional Digest (3/7/02): Seattle Telecom Building in Loan Default

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March 7, 2002

Seattle telecom building in loan default
Puget Sound business Journal, March 4

SEATTLE – A large downtown building that was converted into a private telecommunications center is scheduled to be auctioned in a foreclosure sale on June 14 unless the partnership that owns the building pays off in full a $25.3 million loan. Oskar Brecher of Gateway Colocation, who heads the partnership, expects the issue to be resolved and the13-story former U S West Building at 1200 Third Ave. to remain in the partnership's hands. The Brecher-led partnership, Seattle Telecom LLC, paid $33.8 million for the 150,000-square-foot building in September 1999. Lender Lehman Brothers Holdings has taken an equity stake in the building through a separate entity.

Condos planned next to Denver ballpark
Denver Post

DENVER – Discovery Place Investments plans to build a 50,000-sf, four-story building at 22nd and Blake streets, across from Coors Field's north entrance. The residential and retail development, called The Diamond, will be built on the site of the old Breckenridge Brewery warehouse, which will be torn down. It will include roughly 7,100 sf of retail space, 27 condominiums and an underground parking garage. Most of the condos in the development will be about 1,200 sf and will cost an estimated $300/sf, making the average unit $360,000. Construction should take 18 months. The story was also reported in the Denver Rocky Mountain News.

San Francisco's Hard Rock moving
San Francisco Gate

SAN FRANCISCO – The Hard Rock Caf? will relocate to Pier 39 after nearly 20 years on Van Ness Avenue. Hard Rock plans to open this summer at the entrance to Pier 39's shops and attractions and, around the same time, to close its restaurant at Van Ness and Sacramento Street, where San Francisco's first Hard Rock opened in 1984.

Tower Record in Seattle expanding
Seattle Post Intelligencer

SEATTLE – Tower Records is moving full-speed ahead with plans to expand its 26-year-old store on Lower Queen Anne to cover up to half of the city block. The plan for the rest of the block includes a grocery store or restaurant, several smaller shops and up to 150 condominiums. Armada, the project developer, expects to begin meeting with architects next week. The company plans to file its master use permit application, which addresses environmental, traffic and other issues, by summer. The developer hopes to begin construction in about a year. The entire project is expected to be completed by the end of 2004.


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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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