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Oaktree Capital Management has launched a non-traded REIT, joining other institutional investors such as Blackstone Group, Starwood Capital Group and TH Real Estate in targeting retail investors. The Los Angeles company's Oaktree Real Estate Income Trust Inc. would target income-producing properties, real estate debt and real estate-related securities.

Lenders Saw 15 Percent Hike in Originations in 2017; Volumes Seen Dropping 3 Percent

Thursday, 15 February 2018 Written by

Commercial mortgage lenders enjoyed a 15 percent increase in origination volumes last year, according to a survey by the Mortgage Bankers Association, which estimated that volumes reached $566 billion. It expects lending volumes to decline by 3 percent this year, as a result of higher interest rates and a small universe of maturities.

Tenn. Developer Plans to Invest $350Mln on Retail Projects This Year

Wednesday, 14 February 2018 Written by

Hutton Co. wants to invest about $350 million this year on retail developments throughout the United States. The Chattanooga, Tenn., developer, which was founded 20 years ago, has completed about 1,000 projects for more than 50 retailers in more than 40 states.

PGIM Saw 6.5 Percent Hike in Lending Volume in 2017; Aims for $15Bln of Lending This Year

Tuesday, 13 February 2018 Written by

PGIM Real Estate Finance last year originated $14.8 billion of commercial mortgage financing, up 6.5 percent from the $13.9 billion it originated in 2016. It has up to $15 billion available to lend this year.

CIP Real Estate expects to spend about $150 million on value-add properties and sell about $100 million of stabilized assets. The Irvine, Calif., investment company will target industrial and office properties in California, Nevada and North Carolina.

New Orleans-Area Shopping Mall Brought to Sales Market

Friday, 09 February 2018 Written by

The Esplanade, a 966,997-square-foot shopping mall in suburban New Orleans, is being offered for sale. And it's likely to get redeveloped by whoever buys it. The property had been owned by Simon Property Group, which gave up on it nearly five years ago. It recently lost its Macy's anchor.

Liberty Selling Suburban Office Portfolio, Expanding Industrial Holdings

Thursday, 08 February 2018 Written by

Liberty Property Trust plans on completing its year-long repositioning effort this year and expects to sell its remaining suburban office holdings, using most of the proceeds to invest in industrial properties. It's aiming to sell from $600 million to $800 million of assets.

Northwestern Mutual Eyes Sale of Stake in Broadway Plaza in Walnut Creek, Calif.

Wednesday, 07 February 2018 Written by

Northwestern Mutual Real Estate is looking to sell its 50 percent stake in Broadway Plaza, a recently redeveloped shopping center with 889,000 square feet in Walnut Creek, Calif., that it owns with Macerich Co. The property's inline stores generated $1,326/sf in sales last year.

Investment Manager Raising $100Mln for Latest Apartment Fund

Tuesday, 06 February 2018 Written by

Hamilton Point Investments is seeking to raise $100 million for its sixth apartment investment fund. Its predecessor fund, through which it had raised $115 million two years ago, owns eight properties, has another under contract and likely will buy one additional property. It's pursuing properties whose value it could improve through upgrades.

RealAtom is an Arlington, Va., online platform that has received some $700 million of loan requests since it was launched in October 2016. It currently is in the process of raising what it hopes would be $2 million of funding that it would use to add staff and enhance its website.

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Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44

 

RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41

 

 

 

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
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