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

Wednesday, 05 September 2018

Calif. Investor's Latest Fund to Focus on Value-Add Apartments in Western U.S.

Trion Properties is in the market to raise $50 million of equity for its latest fund that would invest in value-add apartment properties in the Western United States. With leverage, the vehicle, Trion Multifamily Opportunity Fund II, could invest about $150 million in class-B and -C properties.

Commercial Real Estate Direct Staff Report

Trion Properties, a West Hollywood, Calif., company founded in 2005, is in the market to raise $50 million of equity for its latest fund that would invest in value-add apartment properties in the Western United States.

The vehicle, Trion Multifamily Opportunity Fund II, will primarily target class-B and -C properties in Los Angeles, San Diego, the San Francisco Bay Area and Portland, Ore., that were constructed between the 1960s and 1980s. With leverage, it could invest about $150 million in deals. It plans on buying eight to 12 properties over the next two years.

Trion is led by co-founders and managing partners Max Sharkansky and Mitch Paskover, who have been friends since childhood. Before forming Trion, Sharkansky was a broker with Marcus & Millichap and Paskover was a managing director at HFF.

Both men were based in Los Angeles when they launched Trion, so they initially targeted apartments in Southern California. They later began acquiring properties in Northern California before entering the Portland multifamily market in 2015.

Trion launched its first fund two years ago and raised $13.5 million of equity, some of which was through the RealCrowd crowdfunding platform. The vehicle, Trion Multifamily...





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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

 

 

 

REITCafe

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