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

Tuesday, 03 July 2018

Canadian Investor Expands Apartment Investments Beyond Phoenix

Western Wealth Capital, which was formed in 2011 to invest in value-add apartment properties in Phoenix and its suburbs, is expanding its geographic reach. The Vancouver, British Columbia, investment manager late last year moved into San Antonio, and is now looking to add units in Dallas and Houston. It's also looking for opportunities in Atlanta and certain North Carolina and Florida cities.

Commercial Real Estate Direct Staff Report

Western Wealth Capital, which was formed in 2011 to invest in value-add apartment properties in Phoenix and its suburbs, is expanding its geographic reach.

The Vancouver, British Columbia, investment manager late last year moved into San Antonio, where it now owns three properties with 776 units. And it soon will have a presence in Dallas and Houston, where it's under contract to buy a total of 1,237 units. When its pending acquisitions are completed, its portfolio would total 37 properties with 8,094 units. Its current portfolio has 30 properties with 6,555 units.

It hopes to surpass 10,000 units by the end of the year.

This year, the company has invested $231 million in six properties with 1,834 units, bringing its portfolio to its current size. That's the most it's invested in any year, topping last year's $210.5 million, which was used to 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 - 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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  • 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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