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

Friday, 06 September 2019

Lone Star Taps JLL to Market for Sale Florham Park, N.J., Offices

Lone Star Funds has placed the 228,350-square-foot 180 Park Ave. office building in Florham Park, N.J., on the sales block and has tapped JLL to market the property for sale. The Dallas investment manager had acquired the building as part of a portfolio four years ago from Columbia Property Trust.

Commercial Real Estate Direct Staff Report

Lone Star Funds has placed the 228,350-square-foot 180 Park Ave. office building in Florham Park, N.J., on the sales block and has tapped JLL to market the property for sale.

The Dallas investment manager had purchased the property, along with 10 others, from Columbia Property Trust in 2015 for $433.3 million. It then bundled the property with dozens of others that it had acquired that year in a portfolio that it used as collateral for a $705 million loan that was funded through a CMBS transaction, Lone Star Portfolio Trust, 2015-LSP.

That deal's balance has shrunk to $231.8 million as collateral properties have been sold or refinanced. The collateral portfolio has shrunk to 47 properties from its original 103.

Lone Star is offering the three-story property at roughly the same time KBS REIT II Inc. has the nearby...





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  • Breaking mortgage, CMBS, and REIT news

  • Quarterly league tables with rankings of B-piece buyers, book runners, and lenders

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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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