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

Wednesday, 06 March 2019

UC Funds Aims for Doubling of Bridge Lending Volume This Year

UC Funds, an alternative lender that in 2017 had launched a program through which it funds bridge loans against properties undergoing light transitions, is looking to double that program's volume this year to $1 billion. The program's volume was comprised overwhelmingly of loans against apartment properties.

Commercial Real Estate Direct Staff Report

UC Funds, an alternative lender that in 2017 had launched a program through which it funds bridge loans against properties undergoing light transitions, is looking to double that program's volume this year to $1 billion.

The Boston company was founded in 2010 by Daniel Palmier, who previously had founded and ran Potomac Realty Capital, and before that was with Arbor Realty Trust and Lehman Brothers. It also makes equity or preferred equity investments in properties and provides mezzanine and construction financing.

Roughly two years ago, it launched its UC Go program, through which it provides short-term, nonrecourse loans - typically with terms of 18 to 24 months - against properties that might recently have been constructed, but haven't reached stabilization, or against those that are undergoing renovations.

It plays in the...





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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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  • US REITs Feeling Effects from Turmoil in Greece and China
    International economic forces have taken center stage this week, affecting both US stock markets and REITs. The crash in the Chinese stock market and ongoing concerns about the future of Greece in the eurozone drove markets down during the first half of the week. REITs fared better than the overall market...

  • What Does Increased Construction Mean for Apartment REITs?
    REITs so far this year have raised $17.1 billion of capital through the sale of unsecured notes, bringing the total raised over the past two and a half years to just more than $75 billion. That’s more than they raised during the previous five years. The massive volume shouldn’t be a surprise as it comes while the yield from 10-year Treasury bonds, the benchmark...
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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