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

Thursday, 17 May 2018

Bascom Renews Office Investing Venture; Eyes $460Mln of Buys Over 2 Years

Bascom Group has re-upped its commitment to Harbor Associates, allowing it to continue investing in office properties in the Western United States. It has been investing with Harbor, which was founded by two former BlackRock Inc. real estate executives, since 2015. The venture has completed $280 million of investments since then.

Commercial Real Estate Direct Staff Report

Bascom Group has re-upped its commitment to Harbor Associates, allowing it to continue investing in office properties in the Western United States.

The Irvine, Calif., investment manager has been involved in $15.2 billion of transactions, mostly in apartment properties, since its founding in 1996. It first invested with Harbor, of Long Beach, Calif., in 2015. Since then, its venture has completed a total of about $280 million of deals. Those involved eight properties with 1.2 million square feet in the Los Angeles area, Orange County, Calif., San Diego and Denver. In two cases, the Bascom/Harbor venture partnered with Goldman Sachs and Stockbridge Capital Group.

It's now aiming to make another $460 million of office investments in the coming two years.

Harbor was formed in 2015 by former BlackRock Inc. real estate executives Joon Choi and Justin Loiacono, as well as Paul Miszkowicz, who previously was with AEW Capital Management and Bascom.

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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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