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

Tuesday, 05 July 2016

Los Angeles Apartment Investor Seeks to Spread Wings; Eyes Fund

Universe Holdings has been strategically raising capital and is said to be in the early stages of raising what would be its first fund, as it gears up to expand the size and scope of its portfolio. Its existing portfolio is populated with small- to mid-sized properties, many in and around Los Angeles.

Commercial Real Estate Direct Staff Report

Universe Holdings has been strategically raising capital and is said to be in the early stages of raising what would be its first fund, as it gears up to expand the size and scope of its portfolio.

The Los Angeles multifamily specialist was founded in 1994 by Henry Manoucheri, who until then had been among the top sales brokers at Marcus & Millichap. Over the years, the company has invested in properties totaling some 6,000 apartment units and currently owns roughly 2,000 units in a number of infill markets in Southern California. It typically has capitalized its investments on a one-off basis through a network of high net-worth investors. But it's also partnered with institutional investors on large transactions.

Its aim is to build out its portfolio to perhaps 10,000 units in the coming years. For this year alone, it would like to make some $100 million of investments.

It'll do that systematically, by broadening its geographic focus to include select markets in Northern California and the East Coast, particularly the New York market. To fund its expansion plan, Universe has been selectively refinancing, or adding leverage to its existing properties, some of which it has owned for more than 10 years.

Most recently, for instance, it tapped HFF to arrange...





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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

 

 

 

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