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

Friday, 19 May 2017

$91.58Mln Loan from JPMorgan Funds Orlando-Area Office Buy

JPMorgan Chase has provided a $91.58 million floating-rate mortgage to fund Brookdale Group's acquisition of Colonial Center at TownPark, a four-building office portfolio with a total of 662,320 square feet in Lake Mary, Fla.

Commercial Real Estate Direct Staff Report

JPMorgan Chase has provided a $91.58 million floating-rate mortgage to fund Brookdale Group's acquisition of Colonial Center at TownPark, a four-building office portfolio with a total of 662,320 square feet in Lake Mary, Fla.

An affiliate of the Atlanta company paid $136.07 million, or $205/sf, for the properties, at 100, 200, 300 and 600 Colonial Center Parkway. The purchase price results in capitalization rate of 6.1 percent. That's based on the $8.3 million of net operating income the buildings had generated last year, according to servicer data compiled by Trepp LLC

With the sale of the Colonial Center buildings, a total of five properties remain and serve as collateral for roughly $318 million of securitized debt that's scheduled to mature this July.

The buildings had been part of the 19-property collateral pool for what originally was $741.9 million of CMBS financing that was split evenly among Bear Stearns...





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  • Breaking mortgage, CMBS, and REIT news

  • Quarterly league tables with rankings of B-piece buyers, book runners, and lenders

  • Industry moves and changes in “The Insider“

Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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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

 

RCA CPPI

 

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CMBS 2.0 Spreads

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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

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  • 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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