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

Tuesday, 09 May 2017

Arden Group Moves into Alternative Lending

Arden Group has stepped into the alternative-lending universe by raising well more than $35 million of a targeted $150 million for the Arden Credit Fund that would provide financing against value-add real estate. The fund is an extension of its equity-investment business, which buys, fixes and sells properties.

Commercial Real Estate Direct Staff Report

Arden Group has stepped into the alternative-lending universe by raising well more than $35 million of a targeted $150 million for a fund that would provide financing against value-add real estate.

The Philadelphia company, which was founded in 1989, moved into the investment management business five year ago when it raised $65.6 million of equity commitments for its Arden Real Estate Partners I fund. Capital was raised from a group of high net-worth investors and family offices.

The fund made six investments totaling $240 million. Arden then followed that up with Fund II, through which it raised $183 million of equity that so far is roughly 80 percent invested.

The company, led by its founder Craig A. Spencer, moved into the bridge-lending business as an extension of its core value-add/opportunistic investment practice. It historically has purchased properties that needed "fixing." That is, it would buy properties in need of renovations or redevelopment, or that had a substantial vacancy that needs to be filled. It would find opportunities, buy...





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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 - 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

 

MOODY'S/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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