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Ramco-Gershenson Properties Trust plans to make up to another $350 million of shopping center acquisitions through the remainder of this year. The Farmington Hills, Mich., REIT already has invested $150 million on two acquisitions this year, and has been targeting a full-year acquisition level of up to $500 million.

Rialto Tops Private-Label CMBS B-Piece Market

Wednesday, 23 July 2014 Written by

A total of nine investors participated in the CMBS conduit B-piece market during the first half of the year, with Rialto Capital Management making investments in more than a quarter of the first-half volume. Eightfold Real Estate Capital, which by this time last year had acquired bonds from seven deals totaling 37.5 percent of the market, so far has bought into only two deals totaling 8 percent of the market.

Boston's Alcion Ventures Raises $194Mln for Latest Investment Fund

Tuesday, 22 July 2014 Written by

Alcion Ventures has raised $194 million of a planned $600 million for its third real estate investment fund. The vehicle is a follow-up to the Boston investment manager's Real Estate Fund II, which has invested or committed about 85 percent of the $500 million of equity it raised.

Two insurance subsidiaries of American International Group, United States Life Insurance Co. and National Union Fire Insurance Co., have provided $113 million of financing against 330 Hudson St., a 467,000-square-foot office building in lower Manhattan. A 49.3 percent stake in the property recently was sold in a deal valuing the 16-story former warehouse at $304 million.

Investment Program Eyes $320Mln of Office Acquisitions

Monday, 21 July 2014 Written by

Palisades Capital Realty Advisors, a Los Angeles investment manager, has launched a program under which it plans to make about $320 million of office-property acquisitions over the next two years. Capital for the investments it's pursuing is coming from its network of high net-worth investors in California's Silicon Valley.

CalSTRS Offers for Sale 1835 Market St. in Downtown Philadelphia

Friday, 18 July 2014 Written by

The California State Teachers' Retirement System is offering for sale 1835 Market St., a 799,994-square-foot office building in downtown Philadelphia. It could sell for roughly $108 million. JLL has the listing.

Iron Point Partners, an investment manager backed by billionaire Robert M. Bass, so far has raised $267 million of equity commitments for its latest real estate investment fund, Iron Point Real Estate Partners III. The vehicle is a follow-up to its Fund II, which raised $750 million in marketing that ended in 2012.

JPMorgan Lending Group Provides $190Mln Against Boston Office Building

Wednesday, 16 July 2014 Written by

A group of lenders led by JPMorgan Chase Bank has provided a $190 million loan against 1 Channel Center, a 500,000-square-foot office property in south Boston. The debt replaces $170 million of construction financing that the lending group provided two years ago.

Brookfield Brings Suburban D.C. Apartment Property to Market

Tuesday, 15 July 2014 Written by

The Toronto investment manager is offering for sale Meridian at Bowie, a 348-unit apartment property in the Washington, D.C., suburb of Bowie, Md. The property could sell for roughly $90 million, or $258,621/unit. CBRE has the listing. 

Spokane, Wash., Office Complex Sells for $52.1Mln

Monday, 14 July 2014 Written by

A venture that includes Unico Properties and C-III Asset Management has acquired the Rock Pointe Corporate Center office complex in Spokane, Wash., for $52.1 million, or about $93/sf, by buying and foreclosing on a defaulted $60.8 million loan against the 558,838-square-foot property.

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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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