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Monday, 13 May 2002

West Regional Digest (5/14/02): Sterling Buys LA Apartments for $22Mln

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May 14, 2002

LA apartment purchase among deals listed
Los Angeles Times

LOS ANGELES – Donald T. Sterling, trustee of the Sterling Family Trust, has purchased the 20-story, 236-unit Mark Wilshire Apartments from Mark Wilshire Associates for $22 million. The buyer and the seller were represented by Marcus & Millichap. CTG Properties bought a 281,548-square-foot industrial building in Anaheim from DeRegt Development for $20 million. Lee & Associates represented the buyer and seller. Tenet Healthcare Corp. signed a 10-year, $11.3 million lease for 33,500 sf of office space in Brentwood. CB Richard Ellis represented the landlord, Lowe Enterprises. The tenant was represented by Daum Commercial Real Estate.


FSC Realty buys LA apartments for $9.3Mln

LOS ANGELES – FSC Realty has purchased the Kingsley Apartment Plaza for $9.3 million. Marcus & Millichap brokered the transaction. The $9.3 million sales price represents $90,291 per unit and $115/sf and a capitalization rate of 7.9 percent. The 103-unit, Class-B Kingsley Apartment Plaza is at 333 South Kingsley Drive, north of Wilshire Boulevard. The controlled-access community was constructed in 1985 and encompasses 81,043 sf.


Beverly Hills, Calif., investor buys Ariz. apartment for $9.3Mln

ORO VALLEY, Ariz. – A California investor has purchased the Pusch Ridge apartments here for $9.3 million, or $64,444/unit. Marcus & Millichap brokered the sale. This sale represented the highest price per foot for any non-student multifamily apartment complex ever sold in the Tucson area. The 144-unit, Class-A complex is at 9901 North Oracle Road. The gated community was constructed in 1998 and encompasses 124,708 sf on a 10.31-acre parcel. Monthly rental rates range from $609 to $869. Community amenities include a fitness center, a pool and spa, and 24-hour emergency maintenance service. The complex is 99 percent occupied.


Credence buys HQ space in Fremont, Calif., for $22Mln
Oakland (Calif.) Tribune

MILPITAS, Calif. – Credence Systems Corp. is moving 350 Fremont employees two miles south to a $22 million headquarters due to bargains created by Silicon Valley's troubled real estate market. The transaction is expected to close in August. The $22 million deal involves 14 acres and two office buildings totaling 180,000 sf. Sun Microsystems had occupied the buildings before Credence had offered to purchase them.


Saban to move to Santa Monica Boulevard
Los Angeles Times

WESTWOOD, Calif. –Saban Capital Group Inc. will relocate from Westwood to the entire 24,000-sf penthouse floor of Century City's 26-story tower at 10100 Santa Monica Blvd. The firm has agreed to lease the highest of the five floors previously occupied by Princess Cruises, which has relocated to Valencia. Financial details of the 10-year lease weren't disclosed. Terms of recent Century City deals suggest the total consideration is nearly $15 million.


15 more firms sign for space in Stapleton, Colo.
Denver Rocky Mountain News

STAPLETON, Colo. – Stapleton's $4 billion redevelopment moved forward with news that 15 more retailers have signed leases there. Six restaurants – Bocaza, Arby's, McDonald's, International House of Pancakes, Old Country Buffet and Subway – have inked deals with developer Forest City Stapleton Inc. Other new tenants include Doctors Vision Works, Mattress Factory, Great Clips, Nail Gazebo, One Hour Quality Cleaners, Party City, Famous Footwear, Morgan Tire and Payless Shoes. The stores will occupy 588,000 square feet of the 740,000-sf Quebec Square Retail Center, on the corner of Quebec and 35th streets.


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


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  • 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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