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CMBS Issuance for Year Poised to Top $84Bln; Issuers Not Done Yet

Friday, 08 December 2017 Written by

Five CMBS transactions totaling $3.6 billion priced over the past five days and another four, totaling $2.3 billion, were launched, which would bring total issuance for the year so far to $84.3 billion. That would be 25.4 percent more volume than last year. Issuers aren't done yet and could very well float at least another $5 billion of bonds.

SEC Clarifies Accounting Rules on Sales Recognition of Certain CMBS

Thursday, 07 December 2017 Written by

The SEC has clarified that issuers of CMBS could continue treating the securitization of assets as sales, as opposed to financings, under generally accepted accounting principles, even when a third party buys its risk-retention classes. The regulator hasn't made a formal ruling, but provided guidance through the Securities Industry and Financial Markets Association.

JCR Capital Raises $142Mln in Six Months for Value-Add Lending Fund

Wednesday, 06 December 2017 Written by

JCR Capital Investment Corp., which started raising a value-add lending fund in June, already has raised $142 million for the vehicle, JCR Income Plus Fund IV. The fund, which will provide joint venture and preferred equity as well as mezzanine loans, becomes the third leg in the Denver investment manager's capital offerings. It already operates in the core and opportunistic sectors.

Former Stan Johnson Net-Lease Execs Launch Brokerage Platform

Tuesday, 05 December 2017 Written by

Two long-time players in the business of brokering the sale of net-leased properties have launched their own brokerage platform, Brokers+Engineers. The two, Camille Renshaw and Scott Scurich, aim to modernize the brokerage of net-leased properties by building a robust data set and analytics. They expect to broker $350 million of property sales in year one.

So far this year, REITs have issued a record-breaking $47.5 billion of unsecured notes - nearly a quarter more than they issued last year. And in three days last week, eight REITs priced $5 billion of notes, setting another record. Their driver: continued low interest rates and the fear that they'll increase.

Real Estate Execs' Confidence in Market Conditions Continues to Rise

Friday, 01 December 2017 Written by

Confidence from commercial real estate executives on the industry's current state and future prospects has increased slightly, according to the latest survey from the Real Estate Roundtable. But those executives have expressed some caution about cycle timing and tax-reform uncertainty.

Los Angeles Investor Prevails in Online Auction for Moreno Valley Mall in Calif.

Thursday, 30 November 2017 Written by

International Growth Properties has completed its purchase of the Moreno Valley Mall in California's Inland Empire. The Los Angeles investor was tops among more than 10 investors that competed at an online auction hosted on the RealInsight sales platform. It won the auction with an offer of $60.25 million and ponied up another 5 percent buyer's premium.

Korean Bank Lends $175Mln Against Chicago Office Building

Wednesday, 29 November 2017 Written by

Shinhan Bank of South Korea has provided $175 million of mortgage financing against 300 South Riverside Plaza, a 1.1 million-square-foot office building in Chicago's West Loop area. The building last year lost its main tenant, but most of the space it vacated since has been re-leased.

Iron Point Partners Raising Capital for Latest Real Estate Investment Fund

Tuesday, 28 November 2017 Written by

The Washington, D.C., investment manager, which was founded 10 years ago by a team of executives who previously were with the real estate investing operation of Robert M. Bass, so far has raised $61 million for Iron Point Real Estate Partners IV LP. Its predecessor fund had raised $750 million.

Kohan Retail Buys Colonial Park Mall in Harrisburg, Pa.

Monday, 27 November 2017 Written by

Kohan Retail Investment Group, perhaps the most active buyer of troubled shopping malls in the country, has purchased the Colonial Park Mall in Harrisburg, Pa. The Great Neck, N.Y., investment company bought the property for $15 million from Washington Prime Group, which had offered it through NKF Capital Markets. It plans to keep operating the property as a mall.

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Data Digest







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




cppichart FP



CMBS 2.0 Spreads


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





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