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

Friday, 06 July 2018

Alternative Lender Millbrook Realty Aims to Supercharge Lending Volume

Millbrook Realty Capital, a New York alternative lender that has been funding bridge, construction and mezzanine loans since 2009, is looking to supercharge its lending activity. The company, founded and led by long-time real estate developers Marc and Charles Yassky, has hired a seasoned bridge lender and is expected to write more than $100 million in the coming year.

Commercial Real Estate Direct Staff Report

Millbrook Realty Capital, a New York alternative lender that has been funding bridge, construction and mezzanine loans since 2009, is looking to supercharge its lending activity.

The company, founded and led by brothers Marc and Charles Yassky, who separately had been developing retail and apartment properties for nearly 40 years, recently brought on Uanderson Benedetti as managing director to broaden its reach in the lending world. He previously was head of originations for Fort Amsterdam Capital and previously had originated bridge loans for JCL Capital Partners. He also has been involved in the development of more than 1 million square feet of space in New York.

While its lending business has been concentrated in the New York region, Millbrook is able to lend across the country. It's written more than $100 million of loans, generally from $1 million to $20 million. It's aiming to at least match that volume over the next year. It's well on its way to exceeding that, having funded roughly $10 million in the past 30 days.

Like most other alternative...





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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

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    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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