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

Tuesday, 07 August 2018

Money360 Seen Doubling Origination Volume This Year

Money360 Inc., an alternative lender specializing in the small to middle-market space, expects to originate $750 million of bridge loans this year. That would be more than double the $357 million it originated last year. The company recently issued its first collateralized loan obligation and expects to tap that market on a regular basis.

Commercial Real Estate Direct Staff Report

Money360 Inc., an alternative lender specializing in the small to middle-market space, expects to originate $750 million of bridge loans this year. That would be more than double the $357 million it originated last year.

It’s well on its way. The Ladera Ranch, Calif., lender, which provides loans of $1 million to $20 million, has been funding between $50 million and $80 million monthly and set a monthly origination record of $82.5 million in May. While relying on the brokerage community to source lending opportunities, the company has 10 regional executives that interact with brokers and mortgage banks across the country.

The company initially had offered loans with fixed coupons. That wasn't an issue while interest rates were low and stable. But with the broad expectation that rates will climb, it recently shifted to offering floating-rate coupons.

It funds its originations through an open-ended investment fund that’s been capitalized, in part, by investors in South Korea. Other investors include high net-worth individuals, family offices and a small number of institutional investors.

It also operates a closed-end fund, but instead of launching a follow-up to that, it went the open-end route because of its ability to offer its investors some...





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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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