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CIBC has provided $108 million of floating-rate financing against 1333 H St. NW, a 269,151-square-foot office property in the East End submarket of Washington, D.C., that recently was acquired by a venture of MRP Realty and Rockpoint Group for $127.2 million. The property previously was owned by Miller Global Properties.

A tenant-in-common group, facing the pending maturity of a $42.2 million mortgage against NetPark, a 929,023-square-foot office property in Tampa, Fla., managed to line up a $47.4 million loan from UBS, which securitized it in a recent transaction. The mortgage is among the first against a property owned by a TIC group to be securitized since the capital-markets collapse in 2008.

AEW Offers Atlanta Office Property for Sale

Wednesday, 27 August 2014 Written by

The Boston investment manager is offering for sale 1155 Perimeter Center West, a 376,694-square-foot office property in Atlanta's central perimeter submarket. The 12-story building could sell for $83 million, or about $220/sf.

TIAA-CREF has provided $172.1 million of mortgage financing against One Marina Park Drive, a 525,000-square-foot office building in Boston that was developed in 2010 by a venture of Fallon Co. and MassMutual Financial Group. The TIAA loan retires construction financing that was originated by Anglo Irish Bank in 2008.

A venture led by Winthrop Realty Trust has hired JLL to market for sale a 502,000-square-foot office building at 1515 Market St. in downtown Philadelphia. In a regulatory filing, the Boston company said the property was worth between $72 million and $77.4 million. The property is on track to generate $5.4 million of net operating income this year.

AMLI Residential has struck a deal to sell the 696-unit AMLI at McGinnis Ferry apartment property in the Atlanta suburb of Suwanee, Ga., for roughly $95 million, or $136,494/unit. The property, at 4021 McGinnis Ferry Road, is being offered through JLL. The identity of the proposed buyer couldn't immediately be learned.

American Colonial Capital is looking to raise $50 million of equity, with roughly a quarter of that coming through the crowdfunding market, for a fund that will invest primarily in select-service hotels. The Palm Desert, Calif., investment manager so far has raised $10 million, but none of that has come through crowdfunding.

Terra Capital Partners has raised $120 million of a targeted $160 million for its latest fund, which will provide mezzanine financing and B-notes against commercial properties as well as make preferred-equity investments. The vehicle, Terra Secured Income Fund 5, succeeds a $100 million fund that was launched in 2011. It's been totally invested.

A venture led by the Daniel Corp. has struck a deal to sell the 330-unit apartment building at 77 12th St. in midtown Atlanta for $121 million to John Joyce, a Massachusetts investor. Daniel, which developed the property with partners Northwestern Mutual Life Insurance Co. and Selig Enterprises Inc., is being represented by Engler Financial Group.

The New York investment manager has paid $800 million, or roughly $135,410/room, for a portfolio of 47 extended-stay hotels with 5,908 rooms scattered across 18 states in major metropolitan markets. It funded the purchase with $675 million of financing that was provided by JPMorgan Chase Bank and Deutsche Bank. The floating-rate debt likely will be securitized.

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Data Digest

 

CMBS Deliquency Volume

dqdataFP1

 

CMBS Special Servicing Volume

sschartfp

Top Bookrunners
Private-Label CMBS

1H2014

Investment Bank

#Deal

Bal $mln

Mkt
Shr%

Deutsche Bank

16.0

12,761.50

32.44

JPMorgan

6.10

4,856.29

12.35

Wells Fargo

8.11

4,790.00

12.18

Citigroup

4.33

3,750.65

9.54

Goldman Sachs

4.00

3,722.62

9.46

 

Moody’s/RCA CPPI

cppichartAFP

 

CMBS Pricing Matrix (Legacy AAA Spreads)

AAAspreadsFPa

 

Top Loan Contributors
Domestic, Private-Label CMBS - 1H2014

Lender

Vol $mln

Mkt
Shr%

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

6.70

 

 

 

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