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

Thursday, 05 October 2017

Electra America Buying Apartment Properties in Southeast and Texas

Electra America, a unit of a Tel Aviv real estate company, is actively buying up class-B apartment properties in certain markets in the southeastern United States and Texas. So far this year, it's purchased 15 properties for $638 million and has another six properties under contract. Meanwhile, it's selling seven properties.

Commercial Real Estate Direct Staff Report

This year, Electra America has paid $638 million, or about $123,643/unit, for 15 apartment properties with a combined 5,160 units in Georgia, Florida, North Carolina and Texas.

The Tampa, Fla., company also has agreed to buy six other properties, with a total of 1,500 units, for $200 million, or about $133,333/unit. The deals are expected to close by the end of the year.

Meanwhile, it's selling seven of its properties for some $200 million as it fine-tunes its portfolio's geographic diversity.

The transactions are part of Electra America's strategy to invest in class-B properties in major metropolitan areas in the southeastern United States and Texas.

Joseph Lubeck, the company's chief executive, has identified the following markets as having strong job growth and population increases, particularly among the 24 to 36-year-old age category: Charlotte and Raleigh, N.C.; Miami, Jacksonville, Orlando, Tampa, and...


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Data Digest







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




cppichart FP



CMBS 2.0 Spreads


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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