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AMLI to Sell Suburban Atlanta Apartment Property for $95Mln

Friday, 22 August 2014 Written by

AMLI Residential has struck a deal to sell the 696-unit AMLI at McGinnis Ferry apartment property in the Atlanta suburb of Suwanee, Ga., for roughly $95 million, or $136,494/unit. The property, at 4021 McGinnis Ferry Road, is being offered through JLL. The identity of the proposed buyer couldn't immediately be learned.

Investment Manager Taps Crowdfunding Market to Raise Equity for Fund

Friday, 22 August 2014 Written by

American Colonial Capital is looking to raise $50 million of equity, with roughly a quarter of that coming through the crowdfunding market, for a fund that will invest primarily in select-service hotels. The Palm Desert, Calif., investment manager so far has raised $10 million, but none of that has come through crowdfunding.

Terra Capital Raises $120Mln for Debt Fund

Thursday, 21 August 2014 Written by

 

Terra Capital Partners has raised $120 million of a targeted $160 million for its latest fund, which will provide mezzanine financing and B-notes against commercial properties as well as make preferred-equity investments. The vehicle, Terra Secured Income Fund 5, succeeds a $100 million fund that was launched in 2011. It's been totally invested.

 

A venture led by the Daniel Corp. has struck a deal to sell the 330-unit apartment building at 77 12th St. in midtown Atlanta for $121 million to John Joyce, a Massachusetts investor. Daniel, which developed the property with partners Northwestern Mutual Life Insurance Co. and Selig Enterprises Inc., is being represented by Engler Financial Group.

Blackstone Pays $800Mln for Hotel Portfolio, Lines up $675Mln of Debt

Tuesday, 19 August 2014 Written by

The New York investment manager has paid $800 million, or roughly $135,410/room, for a portfolio of 47 extended-stay hotels with 5,908 rooms scattered across 18 states in major metropolitan markets. It funded the purchase with $675 million of financing that was provided by JPMorgan Chase Bank and Deutsche Bank. The floating-rate debt likely will be securitized.

Developer Eyes $400Mln-Plus of Deals via Partnerships

Monday, 18 August 2014 Written by

CapRock Partners is looking to make at least $400 million of investments on behalf of its two latest funds, which will have $28.5 million of equity. The Irvine, Calif., developer and investment manager leverages its cash by joint venturing with larger institutional investors that provide between 90 and 95 percent of the equity required for the deals. The firepower is boosted further by the debt financing the ventures take out on their properties.

Nomura Finds $500Mln of CMBS Conduit Loans Subject to Rep, Warranty Claims

Friday, 15 August 2014 Written by

Nomura Securities has found 16 CMBS conduit loans with a combined balance of $500 million that are subject to claims that their representations and warranties were breached. Such claims could provide an eventual bonus to bondholders, but they often take time, sometimes years, to resolve.

Deutsche Bank has provided a $170 million construction loan against the 115-year-old Old Post Office Pavilion building in Washington, D.C., that a venture of the Trump Organization and Colony Capital is converting into an upscale 270-room hotel. The property will be known as Trump International Hotel.

Northwestern Lends $170Mln Against Washington, D.C., Office Building

Thursday, 14 August 2014 Written by

Northwestern Mutual Life Insurance Co. has provided $170 million of mortgage financing against 888 First St. NE, a 503,997-square-foot office building in downtown Washington, D.C. The 10-year loan pays a coupon of roughly 3 percent. The collateral building is leased nearly in its entirety by a federal agency that recently renewed its lease for another 10 years.

A venture of Harbert Management Corp. and Smith/Hallemann Partners is in the market to sell two downtown Cincinnati office buildings with 609,275 square feet. The two, 312 Plum St. and 312 Elm St., are expected to sell for up to $100 million, or about $164/sf. Cassidy Turley has the listing.

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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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