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

Wednesday, 22 February 2017

MRP Selected as Winning Bidder for Downtown Philadelphia Office

The buzz is that MRP Realty has been selected as the winning bidder for Three Parkway in downtown Philadelphia. The 561,631-square-foot office property would be the fourth in the city for the Washington, D.C., real estate investment and management firm.

Commercial Real Estate Direct Staff Report

The buzz is that MRP Realty has been selected as the winning bidder for Three Parkway, a 561,631-square-foot office property in downtown Philadelphia.

The Washington, D.C., real estate investment and management firm is believed to be paying about $101 million, or $180/sf, for the property, which would be its fourth office asset in Philadelphia. It acquired the other three office properties last year from Kaiserman Co. in a deal brokered by Eastdil Secured.

MRP owns a total of 29 office, industrial, retail and office properties, as well as development sites in the Washington area, Manhattan and Pennsylvania.

Three Parkway, at 1601 Cherry St., is owned by Tier REIT Inc., which had purchased it in 2006 for $90 million. The Dallas REIT last year hired...





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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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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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