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

Wednesday, 22 July 2020

Colony Capital Makes Another Big Move Toward Digital Real Estate

Colony Capital Inc., which last year started its shift to the digital real estate sector by selling its industrial platform, has made another major move in its new direction. It's formed a venture that will pay $1.21 billion for an 80 percent stake in a portfolio of 12 data centers owned by Vantage Data Centers of Denver. The deal values the portfolio at $3.5 billion.

Commercial Real Estate Direct Staff Report

Colony Capital Inc., which last year started its shift to the digital real estate sector by selling its industrial platform, has made another major move in its new direction.

The Los Angeles investment manager has teamed with an investor group led by CBRE Global Investors to pay $1.21 billion for an 80 percent stake in a portfolio of 12 data centers owned by Vantage Data Centers. The pending deal, which includes the assumption of some $2 billion of existing mortgage debt, values the 1.4 million-square-foot portfolio at $3.5 billion.

Vantage Data is a 10-year-old data-center developer headquartered in Denver. Its deal with the Colony group is designed to allow it to expand its development activity. It will continue to manage the properties now owned by the Colony venture, of which it retains a 20 percent stake. The venture is buying only stabilized properties, with Vantage Data retaining its development...





weekly-call-to-action

“The Weekly”

“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

  • 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

dqdataFP1

 

CMBS SPECIAL SERVICING VOLUME

sschartfp

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

 

cppichart FP

 

 

CMBS 2.0 Spreads

AAAspreads

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

  • Challenging Retail Environment Weights on REITs
    Mixed economic news is weighing on retail markets, pushing REIT performance down in 2015. This week, the National Retail Federation announced that back-to-school spending is expected to be down 9.3% in 2015. This news came on the heels of a report from the Commerce Department stating that retail sales declined 0.3%...
     
  • 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
warehouse-backstage