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Sunday, 31 March 2002

West Regional Digest (4/1/02): Equus Realty Set to Invest $75Mln in Phoenix

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April 1, 2002

Company set to invest $75Mln in Phoenix
The Business Journal of Phoenix

PHOENIX – A California-based investment company is ready to spend as much as $75 million buying financially distressed office buildings here. The money is only part of the $300 million Equus Realty Advisors is prepared to invest over the next two years in office properties throughout the West. The La Jolla company is in escrow or negotiations to buy nearly 1 million square feet of office space in the West.


12-story condo towers proposed for Tempe, Ariz.
The Business Journal of Phoenix

TEMPE, Ariz. – United Properties Group of Cos. has proposed plans to build two 70-unit condo towers next to 40 brownstones just east of downtown. The proposal includes a restaurant, a 24-room boutique hotel priced at more than $200 a night, and up to 100,000 sf of commercial or office space on the first three floors of the condo towers. The condos would range from 840 to 2,500 sf, and they would be priced between $135,000 and more than $1 million. The three-story brownstone units would average 1,450 sf, and priced between $230,000 and $280,000.


Cineplex staying in Seattle's Meridian complex
Puget Sound Business Journal (Seattle)

SEATTLE – The owner of the Cineplex Odeon theater chain, emerging from bankruptcy protection, has opted to keep its lease on a prime block in Seattle's retail core. The decision comes at an important moment for the owner of the Meridian complex, which is in the process of trying to sell the property. The theater is the largest retail tenant in the complex, and the affirmation of its lease eliminates what could have been a sticking point for buyers. The Meridian complex, which also includes tenants such as NikeTown and GameWorks, was put up for sale by Rosche Meridian late last year. The asking price for the property is $75 million, about $3 million less than Rosche Meridian paid for the complex in February 1997.


Boeing leases to end in S. King County, Wash.
Puget Sound Business Journal (Seattle)

SEATTLE – South King County has been spared the worst of the commercial real estate slump. The Boeing Co. could soon change that. Nearly 1 million sf of office space leased by the aerospace company in Renton, SeaTac and Tukwila is scheduled for expiration or possible termination between now and the end of the year. That's equivalent to the 63-story Key Tower in downtown Seattle becoming entirely vacant. Most brokers don't expect Boeing to leave behind all of the space in question, but if it did, the South End office vacancy rate would nearly double to more than 24 percent from its current level of about 13 percent. Boeing has already signaled its intent to vacate at least 315,000 sf. The company has also declined opportunities to renew an additional 275,000 sf of the space, in properties in Renton and Tukwila.


Developer eyes Puget Sound deals
Puget Sound Business Journal (Seattle)

SEATTLE – Panattoni Development Co. is targeting deals for the first time in the Puget Sound region. The company, which plans a large industrial project in Everett, is also looking for potential development sites south of Seattle and on the Eastside. The activity marks the company's long-anticipated entrance into the region's real estate market. In South Everett last week, Panattoni agreed to buy 37 acres at Seaway Center from a Washington Federal Savings Bank subsidiary. The company's project there is ultimately expected to include 600,000 sf of manufacturing and distribution space in five to eight buildings, which will be marketed to prospective users for lease or sale. The expected purchase price for the land was not disclosed.


Church builds senior housing in Denver
The Denver Business Journal

DENVER – A Greenwood Village church is teaming up with Urban Inc. to build the Denver Tech Center's first independent- and assisted-living housing community. In addition to the $11.5 million senior housing development, St. Catherine Greek Orthodox Church will build a 29,000-sf, $4 million expansion that will add a gymnasium, 13 classrooms, a library, meeting rooms and kitchen facilities to the church building at 5555 S. Yosemite St. The company plans to begin construction on the housing in June with completion planned for spring 2003.


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“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)
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Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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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

 

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CMBS 2.0 Spreads

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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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