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 - 1H2014
I Bank #Deals Bal $mln MktShr%
Deutsche Bank 16.0 12,761.50 32.4
JPMorgan 6.1 4,856.29 12.4
Wells Fargo 8.1 4,790.00 12.2
Citigroup 4.3 3,750.00 9.5
Goldman Sachs 4.0 3,722.62 9.5

 

 

MOODY'S/RCA CPPI

 

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CMBS 2.0/3.0 SPREADS

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Top Loan Contributors
Private-Label CMBS 1H2014
Lender Vol $mln MktShr%
Deutsche Bank 8,118.01 20.87
JPMorgan 4,486.83 11.53
CCRE 3,064.41 7.88
Citigroup 2,779.70 7.15
Goldman Sachs 2,604.85 6.7

 

 

 

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