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

Friday, 01 February 2019

Investor in Workforce Properties in N.J., Pa. Aims to Double Portfolio

One Wall Partners, which targets workforce-housing properties in the northeastern United States, plans on doubling the size of its portfolio this year. The Newark, N.J., company owns 40 properties with about 2,100 units in northern New Jersey, as well as a 498-unit property in Philadelphia that it bought last year. It also will broaden its reach to certain parts of Connecticut, including Hartford, and areas near New York City.

Commercial Real Estate Direct Staff Report

One Wall Partners, which targets workforce-housing properties in New Jersey and the Philadelphia area, plans on doubling the size of its portfolio this year.

The Newark, N.J., company owns 40 properties with about 2,100 units in northern New Jersey, as well as a 498-unit property in Philadelphia that it bought last year. It expects to expand its holdings in those areas and is also pursuing properties in certain parts of Connecticut, including Hartford, and areas near New York City.

One Wall targets properties that are within walking distance of public transportation, near major cities and have below-market rents.

The company was founded in 2010 by Andy Wallace, who previously had founded Frontier Living, a Denver apartment developer; Ron Kutas, who previously was a principal of LifeStage Partners, which focuses on seniors housing and before that invested in student housing, and Nate Kline, who previously ran his own brokerage operation and before that developed apartment properties in New Jersey.

One Wall's first investment was the redevelopment of the Fair Store, which was housed in a 150-year-old complex of buildings in Binghamton, N.Y., into Chenango...





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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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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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