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

Saturday, 22 June 2019

Developer Buccini/Pollin Creates Investment Manager; Eyes $250Mln Fund

The Buccini/Pollin Group, a national investor and developer, has formed an investment management arm to centralize the company's value-add investment activities in existing assets. The unit, Corten Real Estate Partners, which is led by P.J. Yeatman, is aiming to raise a $250 million fund that it would use to invest in middle-market office, multifamily and hotel properties throughout the Mid-Atlantic region.

Commercial Real Estate Direct Staff Report

The Buccini/Pollin Group, a national investor and developer, has formed an investment management arm to centralize the company's value-add investment activities in existing assets.

The company, with headquarters in Wilmington, Del., and Washington, D.C., has invested in about $5 billion of real estate projects since its inception in 1994 - involving apartments, hotels and offices - representing more than $1 billion of equity it raised from its founders as well as institutional, family office and high net-worth investor clients.

It has formed Corten Real Estate Partners to centralize and institutionalize that investing activity. Corten will focus on making direct, middle-market, value-add investments in properties in the Mid-Atlantic region, while Buccin/Pollin will continue developing. It has more than $1.5 billion of active...





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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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