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An investment advisory unit in Cassidy Turley's San Jose, Calif., office has arranged for Chinese investment groups to acquire two Los Angeles-area office properties with 202,783 square feet in separate deals for $58.4 million. The unit has several more deals brewing on behalf of Chinese buyers, and expects to complete about $86 million of U.S. deals for Asian investors for all of this year.

Chinese Investments in U.S. Already Top 2013 Total

Tuesday, 25 November 2014 Written by

Investors from China have completed a record $2.55 billion of commercial property investments in Manhattan so far this year, topping the $2.27 billion of activity for all of last year, according to NGKF Capital Markets. Their investments in Manhattan accounted for 28.3 percent of the $9 billion they've invested in real estate this year in the United States through the end of September.

Banque J. Safra Sarasin has provided a $275 million loan against the 400,000-square-foot office and retail property at Union Station in downtown Washington, D.C. The mortgage retires a $50 million loan that was securitized through GMAC Commercial Mortgage Securities Inc., 2004-C3.

Recently-Opened Hollywood Shopping Center Seen Fetching $1,048/SF

Monday, 24 November 2014 Written by

CIM Group is offering for sale a recently-opened shopping center with 42,916 square feet in central Hollywood, Calif. The Hollywood & Western Center, at Hollywood Boulevard and Western Avenue, is seen fetching around $45 million, or $1,048/sf. Madison Partners has the listing.

Credit Suisse's Column Financial lending operation has written a $250 million mortgage against the SoHo Grand and Tribeca Grand, a pair of boutique hotels in lower Manhattan. The new financing is being used to defease, or replace with government securities, a $195 million mortgage that was securitized in 2006.

 

KSL Launches Latest Investment Fund

Thursday, 20 November 2014 Written by

KSL Capital Partners, an investment manager focused on hotels and related businesses, is in the market raising equity for its first property investment fund since 2011. The Denver company thus far has raised $33 million of commitments for its KSL Capital Partners IV fund. It's separately raising capital for a debt-investment fund.

TIAA Pays $295Mln for D.C.'s Flats 130 Apartments

Wednesday, 19 November 2014 Written by

TIAA-CREF has paid $295 million for the Flats 130 at Constitution Square, an apartment property with 643 units in Washington, D.C. It bought the fully-occupied property, with 52,708 square feet of retail space, from a venture of StonebridgeCarras and Walton Street Capital in a deal brokered by HFF.

JPMorgan, Goldman Lend $725Mln Against Four Malls Bought by Starwood

Wednesday, 19 November 2014 Written by

JPMorgan Chase Bank and Goldman Sachs have provided $725 million of financing against four regional shopping malls that recently were purchased by Starwood Capital Group. The two lenders have each provided $362.5 million of the financing, which resulted in the defeasance of three CMBS loans.

A team led by Jack Taylor, the head of Prudential Real Estate Investors' global debt unit, has joined Pine River Capital Management to oversee a commercial real estate investment program that will be seeded with $500 million of equity. He's been named global head of commercial real estate at Pine River. Stephen Alpart and Steven Plust were named managing directors.

Crow Holdings Pays $113Mln for Northern Maryland Shopping Center

Monday, 17 November 2014 Written by

Crow Holdings Capital Partners has paid $113 million, or roughly $258/sf, for the Festival at Bel Air, a 437,227-square-foot shopping center in the Baltimore suburb of Bel Air, Md. The Dallas investment manager bought the property on behalf of a fund from JBG Rosenfeld Retail.

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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 - 9Mos2014
Inv Bank #Deals Bal $mln MktShr%
Deutsche Bank 26.0 19,675.34 29.5
JPMorgan 12.1 8,678.41 13.0
Wells Fargo 15.1 8,504.57 12.8
Goldman Sachs 7.0 5,740.15 8.6
Citigroup 9.3 5,337.91 8.0

 

 

MOODY'S/RCA CPPI

 

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Top Loan Contributors
Private-Label CMBS 9Mos2014
Lender Vol $mln MktShr%
Deutsche Bank 11,647.54 17.75
JPMorgan 7,496.78 11.42
Wells Fargo 4,540.31 6.92
CCRE 4,474.33 6.82
Morgan Stanley 4,312.62 6.57

 

 

 

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