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

Thursday, 13 April 2017

Torchlight Lent $159.2Mln Against Charlotte, N.C., Sarasota, Fla., Offices

Torchlight Investors has provided $159.2 million of financing to facilitate Dilweg Cos.' $115.5 million purchase and stabilization of the First Citizens Bank Plaza in Charlotte, N.C., and Sarasota City Center in Sarasota, Fla. The two properties are collectively 49 percent occupied.

Commercial Real Estate Direct Staff Report

Torchlight Investors has provided $159.2 million of financing to facilitate Dilweg Cos.' $115.5 million purchase and stabilization of the First Citizens Bank Plaza in Charlotte, N.C., and Sarasota City Center in Sarasota, Fla.

As reported, Dilweg, of Durham, N.C., bought the two properties from Osprey Investment Co., which had offered them through HFF. The brokerage also arranged the loan from Torchlight.

The Charlotte building, with 476,987 square feet of office space at 128 South Tryon St., is less than 30 percent occupied, while the Sarasota building, with 249,054 sf at 1819 Main St., is 88 percent leased.

Torchlight's financing, which is structured with senior and mezzanine components with terms of up to five years, was designed to allow Dilweg to fund its purchase. The entire sum wasn't funded at closing. Instead, portions of the loan will be funded as...





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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 - 2016
Investment Bank #Deals Vol$mln MktShr%
JPMorgan Securities 14.94 10,350.16 15.14
Deutsche Bank 14.21 9,926.60 14.52
Wells Fargo Securities 13.36 9,513.96 13.92
Citigroup 10.87 8,061.79 11.80
Goldman Sachs 10.05 7,563.72 11.07

 

RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2016
Lender #Loans Vol$mln MktShr%
JPMorgan Chase Bank 133.67 8,670.33 13.34
Goldman Sachs 156.20 7,418.37 11.41
Deutsche Bank 178.17 6,510.75 10.02
Citigroup 184.41 5,512.20 8.48
Morgan Stanley 113.18 4,130.53 6.35

 

 

 

REITCafe

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  • What Does Increased Construction Mean for Apartment REITs?
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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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