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

Wednesday, 24 July 2013

Lone Star Big Winner of Portfolio Offered by Orix; CMBS AJ Class Gets Hit

Lone Star Funds was the big buyer of most of the $1.5 billion portfolio of foreclosed real estate and distressed loans that Orix Capital Markets had offered. The Dallas investment manager is said to have taken down some $800 million of the assets that were sold. A big chunk was held by LB-UBS Commercial Mortgage Trust, 2007-C2, which saw its AJ class take a principal loss.

Commercial Real Estate Direct Staff Report

Lone Star Funds was the big buyer of most of the $1.5 billion portfolio of foreclosed real estate and distressed loans that Orix Capital Markets had offered.

The Dallas investment manager is said to have taken down some $800 million of the assets that were sold, while two or three other investors divvied up most of the remaining assets.

Orix had offered 57 assets with a balance of $1.3 billion through CBRE and another 41 assets with a balance of $205.1 million through Mission Capital Advisors. Orix owned some of the assets and managed a big chunk of the remainder as special servicer for a number of CMBS trusts.

The biggest of those trusts was LB-UBS Commercial Mortgage Trust, 2007-C2, which saw $773.9 million of its collateral assets get liquidated. The assets generated $550 million of gross proceeds, or 71.1 percent of their balance. Because servicing advances and other fees had...





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Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners
Private-Label CMBS - FY2014
Inv Bank #Deals Bal $mln MktShr%
Deutsche Bank 27.1  23,479.37 26.3
JPMorgan 18.6  13,752.01 15.4
Wells Fargo 17.2  13,085.05 14.6
Goldman Sachs 9.0  7,896.25 8.8
Citigroup 9.1  7,526.97 8.4

 

 

MOODY'S/RCA CPPI

 

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Top Loan Contributors
Private-Label CMBS FY2014
Lender Vol $mln MktShr%
Deutsche Bank 14,005.13 16.0
JPMorgan 11,440.63 13.0
Wells Fargo 5,849.16 6.7
CCRE 5,750.69 6.6
Citigroup 5,604.13 6.4

 

 

 

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