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Monday, 01 April 2002

West Regional Digest (4/2/02): Apollo Managing $300Mln Sunset Millennium Project

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April 2, 2002

Apollo managing $300Mln Sunset Millennium project
Los Angeles Times

WEST HOLLYWOOD, Calif. – Investment firm Apollo Real Estate Advisors has replaced Mark Siffin as managing partner of the $300 million Sunset Millennium project. The action was taken after Siffin, who had spearheaded the project's development, angered community leaders and became involved in a series of costly and embarrassing setbacks. In recent weeks, Apollo officials have been meeting with West Hollywood city leaders to mend relations and build support for the mixed-use project, which is in various stages of development along three blocks of Sunset Boulevard at La Cienega Boulevard.


200 acres in Ramona, Calif., for sale

RAMONA, Calif. – Chartwell International is selling a 200-acre parcel here for $2.9 million. Marilyn Watson of Caldwell Banker's Beverly Hills office is handling the sale.


Milgard signs $15Mln lease
Los Angeles Times

SIMI VALLEY, Calif. – Milgard Manufacturing signed a 10-year, $15 million lease for a 237,266-sf industrial building at 355 E. East St., where the company will relocate in May. The landlord, Pegh Investment, was represented by CB Richard Ellis. Milgard was represented by Delphi Business Properties. Meanwhile, Daisytek International signed a 15-year, $15 million lease for 325,000 sf of industrial space at the Tejon Industrial Complex in Lebec. The landlord, Tejon Dermody Industrial, was represented by Colliers Seeley International. Daisytek was represented by Cushman & Wakefield and Colliers Tingey.


Huffy leases space in Carson, Calif.

CARSON, Calif. – Watson Land Co. has leased one of its Class-A industrial buildings to Huffy Corp. The building is in the Dominguez Tech Center at 18420 Harmon Ave. The building is bounded by Victoria Street, University Drive, Central Avenue and Wilmington Avenue, the center is just south of the 91 freeway and two miles north of the 405 freeway.


United Auto buys San Diego building

SAN DIEGO – United Auto Group-West has purchased a 28,217-sf building from Station Venture Operations for $4.6 million. The property is located at 8330 Engineer Road in the Kearny Mesa area of San Diego. United Auto plans to demolish the building on the 2.8-acre site, as part of a $40 million redevelopment of its car dealerships along Kearny Mesa Road. Randy LaChance and Glen Volk of Voit Commercial Brokerage's San Diego office represented both parties in the transaction.


$3.7Mln provided for San Jose, Calif., retail center

SAN JOSE, Calif. – Marcus & Millichap Capital Corp. has arranged $3.7 million of variable-rate financing on Northwood Square Shopping Center, a 37,563-sf retail center. The property, which was built in 1971, is anchored by a Walgreens and is in the Berryessa section of San Jose. An undisclosed lender provided the acquisition financing, which has a 4.51 percent variable interest rate, a 10-year term, a 30-year amortization schedule and a 74.15 percent loan-to-value ratio. The borrower was not disclosed.


Fannie provides $3Mln for Calif. apartments

MOUNTAIN VIEW, Calif. – Marcus & Millichap Capital has arranged $3 million of fixed-rate financing on Barkley Square, a 56-unit apartment complex. The proceeds were used refinance existing debt on the property. Fannie Mae provided the loan that carries a 6.86 percent interest rate. The loan has a term of 10 years with a 30-year amortization and a 55 percent loan-to-value ratio.


Ensemble sells medical building for $6.5Mln in Goodyear, Ariz.

GOODYEAR, Ariz. – Ensemble Investments/Universal Heal Realty Income Trust has sold the West Valley Emergency Center for $6.5 million, or $181.98/sf. The Class-A medical office building and emergency center is full leased to Vanguard Health System. CB Richard Ellis brokered the sale.


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


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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

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Additional Info

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