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

Friday, 24 January 2020

S3 Capital Wrote $915Mln of Loans in 2019; Expects Similar Volume This Year

S3 Capital Partners, which specializes in funding bridge and construction loans against properties in New York City and New Jersey, originated 85 loans totaling $915 million last year. It expects to fund a similar volume in 2020.

Commercial Real Estate Direct Staff Report

S3 Capital Partners, which specializes in funding bridge and construction loans against properties in New York City and New Jersey, originated 85 loans totaling $915 million last year.

That was the New York company's most active year since its founding in 2013. The company, whose portfolio totals 150 loans with a balance of more than $1.4 billion, expects to originate a similar volume this year.

In late December, the company closed the largest loan in its history, providing $250 million of financing for a hotel project at 150 West 48th St. in Manhattan. The loan helped McSam Hotel Group, a New York developer, fund its $140 million acquisition of the development site and cover construction costs. McSam expects to break ground on the project - three hotels with 1,043 rooms - in March.

Also last month, S3 Capital originated $50 million of construction financing against a 90-unit residential project comprised of two buildings in Brooklyn, N.Y., that a venture of Loketch Group and Meral Property Group is constructing.

S3 Capital is an affiliate of Spruce Capital Partners, a real estate investment firm...





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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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