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

Top News - Free

Top News - Free (8961)

Children categories

Top News - Subscriber

Top News - Subscriber (8488)

Feature articles written by the CreNews staff.

View items...

Washington Prime Puts Central Pa. Shopping Mall on Sales Block

Wednesday, 23 August 2017 Written by

Washington Prime Group has put its Colonial Park Mall in Harrisburg, Pa., on the sales block. The Columbus, Ohio, REIT has tapped NKF Capital Markets to sell the property, which is nearly 97 percent leased and generates $3.1 million of net operating income. The REIT classifies the property as Tier 2, meaning it's smaller and generates less in sales than its top-tier properties.

Ramsfield Venture Aims for Senior Bridge Loans; Lends $64Mln Against Md. Hotel

Tuesday, 22 August 2017 Written by

A venture of Ramsfield Hospitality Finance and CarVal Investors has provided $64 million of first mortgage financing against the Bethesda Marriott, a 407-room hotel in the Washington, D.C., suburb of Bethesda, Md. The financing is among the first senior loans written by the Ramsfield venture, which traditionally has focused on providing mezzanine loans against hotels.

PGIM Real Estate Finance has provided $33 million of bridge financing against the Graceland shopping center, with 397,992 square feet in Columbus, Ohio. The loan, with a two-year term and options for up to three one-year extensions, was funded through a recently launched program to lend against core-plus properties. Capital comes from a fund that so far has raised $300 million.

RMR Group Plans to List Shares for First Mortgage REIT

Friday, 18 August 2017 Written by

The Newton, Mass., company expects to complete its initial public offering for Tremont Mortgage Trust by the end of the year. It recently applied to have the REIT's shares listed on Nasdaq. It is the first mortgage REIT for RMR, which manages four other publically traded REITs.

Macerich to Line Up $600Mln of Debt Against 4 Malls

Thursday, 17 August 2017 Written by

The Santa Monica, Calif., REIT is planning to line up about $600 million of debt against four of its malls. One of the properties is unencumbered by debt. It may line up additional financing against other properties later this year.

HPT Acquires Crowne Plaza Hotel in Ohio, Buying Another in N.C.

Wednesday, 16 August 2017 Written by

Hospitality Properties Trust, a Newton, Mass., REIT, has paid $48.9 million for the 419-room Crowne Plaza & Lofts hotel in Columbus, Ohio. Meanwhile, it is paying $44 million for a 300-room Crowne Plaza in Charlotte, N.C.

Tier REIT Considers Reducing Exposure to Houston Office Market

Tuesday, 15 August 2017 Written by

The Dallas-based REIT is considering reducing its presence in the Houston office market. It owns three properties with a total of about 2.23 million square feet that it carries on its balance sheet at a combined value of $535 million. One of the portfolio's buildings backs $77.9 million of CMBS debt.

Ukraine Turns to U.S. Loan-Sales Specialists to Resolve Troubled Loans

Monday, 14 August 2017 Written by

The country of Ukraine, which has been in a years-long banking crisis, has turned to U.S. contractors for help in resolving it. The country's Deposit Guarantee Fund and its national bank have hired First Financial Network and DebtX to handle the sale of $410 million of nonperforming loans.

Healthcare Realty to Pay $612.5Mln for 15 Atlanta Medical Offices

Friday, 11 August 2017 Written by

Healthcare Realty Trust Inc. has struck a deal to pay $612.5 million for a portfolio of 15 medical-office buildings with 1.3 million square feet in the Atlanta area. The Nashville, Tenn., REIT is buying the properties from Meadows & Ohly.

Ten-X Identifies Top-5 Buy, Sell Apartment Markets

Thursday, 10 August 2017 Written by

Investors looking to purchase apartment properties in the United States may want to focus on non-major markets in the South and West that have enjoyed strong employment growth and haven't faced surges of new supply. Sacramento, Calif., tops a list of markets compiled by Ten-X Commercial with the best prospects for investors, while New York is at the top of "Sell" list.

Page 1 of 641

Data Digest

 

CMBS DELINQUENCY VOLUME

dqdataFP1

 

CMBS SPECIAL SERVICING VOLUME

sschartfp

Top Bookrunners Domestic, Private-Label CMBS - 2016
Investment Bank #Deals Vol$mln MktShr%
JPMorgan Securities 14.94 10,350.16 15.14
Deutsche Bank 14.21 9,926.60 14.52
Wells Fargo Securities 13.36 9,513.96 13.92
Citigroup 10.87 8,061.79 11.80
Goldman Sachs 10.05 7,563.72 11.07

 

MOODY'S/RCA CPPI

 

cppichart FP

 

 

CMBS 2.0 Spreads

AAAspreads

Top CMBS Loan Contributors - 2016
Lender #Loans Vol$mln MktShr%
JPMorgan Chase Bank 133.67 8,670.33 13.34
Goldman Sachs 156.20 7,418.37 11.41
Deutsche Bank 178.17 6,510.75 10.02
Citigroup 184.41 5,512.20 8.48
Morgan Stanley 113.18 4,130.53 6.35

 

 

 

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