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Wednesday, 03 April 2002

West Regional Digest (4/4/02): $45Mln Condo Tower Planned for Denver

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April 4, 2002

$45Mln condo tower planned for Denver
Denver Rocky Mountain News

DENVER – Sedgwick Properties Development Co. has unveiled plans for a $45 million, 13-story condominium project in the uptown neighborhood east of downtown. The 143-unit Tower on the Park at 1950 Logan St. will feature units starting at about $150,000. This is the company's first Denver project. It is also the largest of more than a dozen projects under way or planned in the neighborhood, accounting for almost 52 percent of the 278 units that are in the works.

Affordable condos raise concern in Denver neighborhood
Denver Post

DENVER – Uptown Partnership Inc., a nonprofit group, plans to build a 52-unit condo project that will include affordable housing. But some residents of the neighborhood where the building is planned worry it won't fit with their historic homes. The Uptown Partnership Inc. plans to start construction this fall on the $12 million building, called The Griffin, at the northeast corner of East 22nd Avenue and Washington Street. The 64,000-square-foot, four-story Griffin development will include 12 to 14 units that will be kept as affordable for families earning less than 80 percent of the area median income. The remaining units will cost $165,000 to $350,000 and range from 700 to 1,600 sf.

Denver unveils outline for construction hotel
Denver Post

DENVER – Denver city officials unveiled a bare-bones outline for constructing a convention-center hotel that includes no opening dates, projected costs or development partners. The city expects to hire a team of finance experts to help draft a plan for the publicly financed hotel. In addition to hiring finance experts, the city also plans to update its study of revenues a convention-center hotel would generate. The existing study is at least three years old and is based on a 1,100-room hotel proposed by developer Bruce Berger.

Law firms signs $12Mln lease in Sacramento
Sacramento (Calif.) Bee

SACRAMENTO, Calif. – Downey Brand Seymour & Rohwer, Sacramento's largest law firm, will keep its headquarters at 555 Capitol Mall that has been home for nearly 30 years. The firm's five-year lease, with two five-year options to extend, also is believed to be the biggest private-sector lease – in both size and value – ever signed downtown. The total value of the lease was not revealed, but it is estimated to be about $12 million for the first five years. The firm now has 75,000 sf of offices on three of the building's 14 floors and will expand into 87,000 sf in a few months.

Hampton begins construction on Cedar City, Utah, inn

CEDAR CITY, Utah. – Hampton has begun construction on a 58-key Hampton Inn here. Church Family Trust will own and manage the hotel under a license agreement with Promus Hotels. The hotel will be next to the largest retail, dining and entertainment center in Southern Utah. Cedar City is on Interstate 15 between Salt Lake City and Las Vegas.

San Francisco vacancy hits 21%
The Wall Street Journal

SAN FRANCISCO – The city's office vacancy rate has hit 21 percent, according to a report by Grubb & Ellis Co. The latest vacancy rate compares with 19 percent the previous quarter and is a big jump from the 8 percent vacancy rate of a year ago. Before the recent surge, the high was 17 percent in 1987, when the market had 8 million sf less than today's 62.6 million sf. The vacancies helped push average rents down 11 percent in the latest quarter, to $33.53/sf from $37.7/sf in the previous quarter and $66.08/sf a year ago.

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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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