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

Monday, 07 October 2019

Rockpoint Pays $806Mln for Boston Office; Gets Financing from Wells Fargo

Rockpoint Group has paid $806 million, or $733/sf, for the 1.1 million-square-foot office building at 100 Summer St. in downtown Boston. It financed its purchase with a $470 million mortgage provided by Wells Fargo Bank. The building is across from 99 Summer, which Rockpoint had purchased four years ago.

Commercial Real Estate Direct Staff Report

Rockpoint Group has paid $806 million, or $733/sf, for the 1.1 million-square-foot office building at 100 Summer St. in downtown Boston.

The Boston investment manager bought the property from Blackstone Group, which had assumed the building in 2007 when it acquired Equity Office Properties Trust. The Chicago REIT had acquired 100 Summer St. in 1998 for $222 million.

Wells Fargo Bank has provided $470 million of financing to help fund Rockpoint's acquisition. The loan has a five-year term.

NKF Capital Markets brokered...





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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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