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

Wednesday, 10 October 2018

PPM Finance Maps Expansion into Bridge, Mezzanine Lending

PPM Finance is expanding its commercial real estate loan offerings to include bridge and mezzanine mortgages. The move is a natural extension of the company's senior-lending business and would allow it to provide a wider menu of loan products to its clients and generate higher yields.

Commercial Real Estate Direct Staff Report

PPM Finance is expanding its commercial real estate loan offerings to include bridge and mezzanine mortgages.

To spearhead its expansion, the unit of PPM America in recent weeks hired Mark Kramer as managing director from BlackRock Inc., where he was director of its commercial real estate debt group and specialized in high-yield debt investments.

PPM's move is a natural evolution of its senior-lending business, where it funds long-term mortgages against institutionally owned properties across the country. The company also invests in CMBS and REIT unsecured notes. The company has roughly $8.4 billion of loans on its balance sheet and annually funds about $1.5 billion of loans.

It started investing in commercial real estate in...





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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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