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

Tuesday, 23 January 2018

Middle-Market Lender Trez Forman Sees Doubling Lending Pace This Year

Two-year-old bridge lender Trez Forman Capital Group is aiming to double its originations volume this year to $400 million. The company was formed when Forman Capital partnered with Canadian investment manager Trez Capital Group, providing it the wherewithal to broaden its reach.

Commercial Real Estate Direct Staff Report

Trez Forman Capital Group is aiming to double its originations volume this year to $400 million.

The bridge lender was formed in April 2016 when Forman Capital LP, a Boynton Beach, Fla., alternative lender to middle-market properties, teamed with Trez Capital Group, a Vancouver, British Columbia, investment manager that funds bridge loans against commercial properties in Canada.

Forman, formed by Brett Forman in 2004, was evaluating whether to raise discretionary capital for a fund, which would provide added flexibility to its lending business. And Trez was exploring ways in which it could expand its presence in the U.S.

"We always had a wonderful relationship" with partners - a family office and hedge fund that financed deals as they were originated, but Forman thought a fund would provide it with the ability to better compete against a growing universe of bridge lenders. "We then met Morley Greene," Trez' chairman and chief executive. "It was a natural fit," Forman said. Trez, he said, has an outstanding reputation among the brokerage community in Canada as well as with borrowers and its...





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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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    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
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