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

Thursday, 27 December 2018

Lone Star Back in Market with Another Real Estate Fund

Lone Star Funds is back in the market with a real estate investment fund and has set a $3 billion capital-raising target. That would compare with the $5.9 billion and $5.8 billion the two predecessor funds had raised. Both of those were oversubscribed.

Commercial Real Estate Direct Staff Report

Lone Star Funds is back in the market with a real estate investment vehicle and has set a $3 billion capital-raising target.

That would be far less than the Dallas investment manager's two previous funds. Two years ago, for instance, it had raised $5.9 billion for Lone Star Real Estate Fund V, for which it had set a $5 billion capital-raising target. And it raised $5.8 billion for Real Estate Fund IV just a year before that. That vehicle also was oversubscribed.

Given the oversubscriptions, it's likely that Lone Star will exceed the $3 billion target for its latest fund, which was outlined in a regulatory filing.

Fund IV had provided the Employee's Retirement System of Rhode Island, which...





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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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  • 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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