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Monday, 20 May 2002

West Regional Digest (5/21/02): Deal Reached on $300Mln Project in Denver

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May 21, 2002

Deal on Breckenridge project reached
Denver Rocky Mountain News

DENVER, Colo. – Vail Resorts will develop a $300 million to $400 million project for Peaks 7 and 8 in Breckenridge, under an agreement reached between the Breckenridge Ski Resort and the town of Breckenridge. Vail Resorts is the parent of the Breckenridge resort. The plan calls for 131 residential units at Peak 7, 340 residential units at Peak 8, about 15,000 square feet of retail, rental and restaurant space, and almost 60,000 sf for a skier services facility that will house restaurants, ski and snowboard school offices, skier storage and child care.


Developer's Westwood, Calif., project drawing fire
Los Angeles Times

WESTWOOD, Calif. – Plans for a $100 million apartment and retail complex are drawing fire as a savvy developer tries to push limits on new construction while equally sophisticated neighborhood activists battle to scale down his project. At least two builders have given up on high-profile proposals for a site on Glendon Avenue that a Beverly Hills developer is trying to improve. The 4.25-acre property between bustling Wilshire Boulevard and Westwood Village's retail core is home to aging commercial buildings, parking lots and Glendon Manor, an apartment building dating to the early days of the village. Developer Casden Glendon, led by veteran builder Alan Casden, proposes to build 350 luxury apartments atop ground-floor stores and restaurants and a three-level subterranean garage.


Oakland city center developer adjusts plans
Oakland (Calif.) Tribune

OAKLAND, Calif. – Shorenstein Co. will scale back its plans at City Center, building two more office towers instead of three. Facing an economic downturn, Shorenstein is still trying to fill its newly opened $100 million, 20-story skyscraper at 555 City Center, Oakland's first Class-A office tower in more than a decade. The deal would give Shorenstein an additional five years to build offices at two undeveloped City Center sites. Meanwhile, it would free up the T-10 block bordered by Jefferson Street, Martin Luther King Jr. Way and 13th and 14th streets for other development, possibly housing.


Construction to start on LA apartments
Los Angeles Times

LOS ANGELES – Construction will begin this week on a 196-unit apartment complex for low-income tenants at Seventh Street and San Lucas in downtown. The $17 million San Lucas Apartments is being developed by GSL Properties. The four-story building designed by Killefer Flammang Architects will include 116 one-bedroom units, 16 two-bedroom units and 64 studios. The project is scheduled to be completed by summer 2003.


Cherry Apartments in Long Beach, Calif. sold for $6.5Mln
Los Angeles Times

LONG BEACH, Calif. – Cherry Group has purchased the 110-unit Cherry Apartments at 5663 Cherry Ave. from First Star Mortgage Co. for $6.5 million. Winco Asset Management bought a 125,531-sf industrial portfolio consisting of 2011 S. Garfield Ave. in Commerce and 1100 W. Walnut Ave. in Compton for $6.4 million from Lend Lease Real Estate Investments Inc. Albion Pacific Property Resources bought a 195,000-sf office building at 548 S. Spring St. in Los Angeles from Bolour Trust for $6.4 million. And, Kuve Ltd. bought the 76-unit Pampas Lane Apartments at 1631 W. Pampas Lane in Anaheim from Woodman Realty Inc. for $6.4 million.


Panattoni to build manufacturing space in Thousand Oaks, Calif.
Los Angeles Times

SACRAMENTO – Panattoni Development Co. has purchased the last available lots at the 100-acre Conejo Spectrum in Thousand Oaks, Calif. and plans to build 100,000 sf of manufacturing space in the business park. Panattoni plans to start construction on two separate buildings of 75,000 sf and 35,000 sf during the fourth quarter. The value of the six-acre project is estimated at $10 million.


Westcor moves toward merger
Arizona Republic

PHOENIX – Mall developer Westcor says it's near a deal to sell a controlling interest in the private company to an as-yet-unnamed suitor. The operator of such malls as Scottsdale Fashion Square and Chandler Fashion Center has insisted for weeks that it was not for sale, though rumors have persisted that it was. The company acknowledged that it has met with a procession of the country's top mall developers as a prelude to a potential merger. Westcor made it known in February that it was seeking an investor to replace the AT&T Corp.'s pension fund as one of its key institutional investors. It hired an adviser to solicit bids and the deadline to submit them passed last week.


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“The Weekly”

“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: 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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