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

Tuesday, 30 April 2013

Orix Puts $1.5Bln of Distressed Loans, REO on Sales Block

Orix Capital Markets has placed some $1.5 billion of distressed loans and foreclosed real estate up for sale in a pair of offerings that are being overseen by CBRE and Mission Capital Advisors, respectively. CBRE is offering $1.3 billion of the assets, while Mission Capital is offering $205 million. Both will entertain offers for individual assets, pools of assets or the portfolios in their entirety.

Commercial Real Estate Direct Staff Report

Orix Capital Markets has placed some $1.5 billion of distressed loans and foreclosed real estate up for sale in a pair of offerings that are being overseen by CBRE and Mission Capital Advisors, respectively.

The Dallas finance company is offering the portfolios in order to take advantage of strong investor demand for distressed and otherwise high-yielding assets. The offerings include both loans that it manages on behalf of CMBS trusts and that it holds on its own balance sheet.

CBRE has packaged the 57 assets with an unpaid balance, or book value of $1.3 billion that it has been charged with selling into 11 pools and will take initial offers on individual pools or the portfolio in its entirety on May 20.

The largest pool is comprised of three foreclosed apartment properties with 1,909 units in Maryland that Orix had taken by foreclosing against a $185 million mortgage that was securitized through LB-UBS Commercial Mortgage Trust, 2007-C2.

The...





weekly-call-to-action

“The Weekly”

“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

  • Breaking mortgage, CMBS, and REIT news

  • Quarterly league tables with rankings of B-piece buyers, book runners, and lenders

  • Industry moves and changes in “The Insider“

Data Digest

 

CMBS DELINQUENCY VOLUME

dqdataFP1

 

CMBS SPECIAL SERVICING VOLUME

sschartfp

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

 

cppichart FP

 

 

CMBS 2.0 Spreads

AAAspreads

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

  • Challenging Retail Environment Weights on REITs
    Mixed economic news is weighing on retail markets, pushing REIT performance down in 2015. This week, the National Retail Federation announced that back-to-school spending is expected to be down 9.3% in 2015. This news came on the heels of a report from the Commerce Department stating that retail sales declined 0.3%...
     
  • 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
warehouse-backstage