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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.

Oaktree Venture in Deal to Buy Large L.A.-Area Biomedical Park

Friday, 14 November 2014 Written by

A venture led by Oaktree Capital Management has struck a deal to buy the 119.5-acre Alfred Mann Biomedical Park in Valencia, Calif. The property has 431,000 square feet of space leased primarily to bio-science or medical research-related companies and is entitled for another 900,000 sf of development. It's being sold by Alfred Mann, a Los Angeles entrepreneur.

Lincoln Square Prepayment Waiver Raises Ire Among Some Investors

Thursday, 13 November 2014 Written by

LNR Partners' decision to waive the prepayment penalty on the $225 million of CMBS debt against Lincoln Square in Washington, D.C., which subsequently was sold for $300 million, was likely a solid decision, according to a number of bond investors. But they're furious that the office property's former owner, a group led by Ralph Dweck, which owned a $65 million B-note, was made whole on that investment.

Ogden Pays $106.5Mln for Washington, D.C., Apartment Property

Thursday, 13 November 2014 Written by

Ogden Cap Properties has paid $106.5 million for the m.flats Mt. Vernon Triangle, a recently-completed apartment property with 233 units and 6,500 square feet of retail space in downtown Washington, D.C. The New York company acquired the property, at 450 K St. NW, from Kettler Inc. of McLean, Va., which was represented by HFF.

Atlanta investment manager Brookdale Group is in the market seeking to raise about $600 million of equity commitments for its first fund since 2010. Its Brookdale Group Seven fund attracted its first commitments last month and has thus far raised $60 million.

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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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