Daily market intelligence on mortgages, equity raising, investment sales, and CMBS.

Properties

Properties (12276)

Properties category

16920 West Commerce Drive

Monday, 24 February 2020 Written by

Goodyear Crossing is fully leased to Amazon.com Inc.

3701 Winkler Ave.

Friday, 21 February 2020 Written by

Retreat at Vista Lake apartment property

Prime Finance has provided a $75 million loan to help fund DAS-Alliance's acquisition.The loan provided by Prime Finance will effectively retire a $54.4 million Freddie Mac loan that was securitized through FREMF, 2017-KF36, and was subject to a 1 percent prepayment penalty.

The garden-style property, at 3701 Winkler Ave., was on track to generate $4.9 million of net operating income last year, up from $3.9 million in 2017, according to servicer data compiled by Trepp LLC.

10 East 29th St. in Manhattan

Friday, 21 February 2020 Written by

Instrata Nomad apartment property

330 Madison Ave. in Manhattan

Friday, 21 February 2020 Written by

The 55-year-old building, between 42nd and 43rd streets, is 93 percent leased to tenants that include Guggenheim Partners, which occupies 242,118 sf under a lease that runs through March 2028, and HSBC Bank, which leases 112,641 sf through April 2025. The building was on track to generate $43.3 million of net operating income last year, based on income it had generated through September.

It's encumbered by $500 million of mortgage debt that's securitized through MAD Mortgage Trust, 2017-330M, and doesn't mature until August 2024. The loan doesn't become open to prepayment until August 2022, but it could be defeased, or replaced by government securities.

The Stonehenge group is repositioning the 55-year-old property, rebranding it as Stonehenge 51, and is introducing its Stonehenge Reserve concept to the property, where it offers fully-furnished apartments and rents out certain units for as little as six months.

8150 Baltimore Ave.

Friday, 21 February 2020 Written by

Varsity student-housing property is one-third of a mile from the University of Maryland and was developed by American Campus in 2011. It has 258 fully-furnished units with up to four bedrooms each, hardwood floors, granite countertops, black appliances and washers and dryers. It also has study lounges, a fitness center and recreation center with billiards, foosball and shuffleboard.

1300 South University Ave.

Friday, 21 February 2020 Written by

Landmark student-housing property has 173 units.

15 West 47th St. in Manhattan

Friday, 21 February 2020 Written by

10791 North Kendall Drive

Friday, 21 February 2020 Written by

Palms Apartments

Iberiabank provided $13.75 million of acquisition financing.

3945 and 3965 Freedom Circle

Friday, 21 February 2020 Written by

Santa Clara Towers

Mesa West Capital has provided $181 million of financing to help fund the purchase as well as capital improvements the Hines/Oaktree venture is planning.

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

 

 

 

REITCafe

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    Mixed economic news is weighing on retail markets, pushing REIT performance down in 2015. This week, the National Retail Federation announced that back-to-school spending is expected to be down 9.3% in 2015. This news came on the heels of a report from the Commerce Department stating that retail sales declined 0.3%...
     
  • US REITs Feeling Effects from Turmoil in Greece and China
    International economic forces have taken center stage this week, affecting both US stock markets and REITs. The crash in the Chinese stock market and ongoing concerns about the future of Greece in the eurozone drove markets down during the first half of the week. REITs fared better than the overall market...

  • What Does Increased Construction Mean for Apartment REITs?
    REITs so far this year have raised $17.1 billion of capital through the sale of unsecured notes, bringing the total raised over the past two and a half years to just more than $75 billion. That’s more than they raised during the previous five years. The massive volume shouldn’t be a surprise as it comes while the yield from 10-year Treasury bonds, the benchmark...
shouldn’t be a surprise as it comes while the yield from 10-year Treasury bonds, the benchmark against which most REIT’s price their bonds
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