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

Wednesday, 15 January 2020

Dallas Investment Manager Launches First Investment Fund, Plans Follow-Up Vehicle

The Prescott Group, a Dallas real estate investment manager, has raised $63.4 million of equity commitments for its first investment fund that is pursuing property acquisitions and debt investments throughout the United States. The vehicle, Prescott Strategies Fund I, already has made 12 investments, primarily in the office sector and most of which it has bought through foreclosure auctions or in distressed situations.

Commercial Real Estate Direct Staff Report

The Prescott Group, a Dallas real estate investment manager, has raised $63.4 million of equity commitments for its first investment fund that is pursuing property acquisitions and debt investments throughout the United States.

The vehicle, Prescott Strategies Fund I, already has made 12 investments, primarily in the office sector and most of which it has bought through foreclosure auctions or in distressed situations. Its 17 investors include pension funds, family offices and high net-worth individuals. With co-investment capital and debt, it expects to make about $200 million of investments.

After deploying the rest of the fund's capital this year, Prescott will launch a follow-up vehicle with a target equity raise of up to $125 million. The second fund will pursue a similar strategy as the first, focusing on office and apartment deals with total capitalizations of less than $25 million, mostly in Texas, the Southeast and Southwest, where it expects population and job growth rates to exceed the national average.

Prescott typically invests $5 million to $10 million of equity per transaction and obtains...





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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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