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

Thursday, 30 November 2006

Hines to Pay $217Mln for 716,000 SF of Space in Suburban Seattle

Hines has agreed to pay $217 million for two office parks totaling 716,000 square feet of space in the Seattle suburb of Redmond, Wash. The Houston firm is paying $118 million for the 465,000-sf Laguna Office Park and $99 million for the 251,000-sf Daytona Office Campus. Microsoft occupies a significant amount of space in both.

By Jeff Mordock, Commercial Real Estate Direct Staff Writer

Hines REIT Inc. has agreed to acquire 716,000 square feet of office space in Redmond, Wash., in two transactions totaling $217 million.

The Houston REIT, which has, so far, raised nearly $200 million from a public offering of shares, will buy the three-building Daytona Office Campus for $99 million, and the six-building Laguna Office Park for $118 million from Hart Properties, a Redmond developer owned by Glenn Hart.

Both properties are adjacent to each other at the corner of 148th Avenue and Northeast 31st Way, roughly 20 minutes south of downtown Seattle. They are also next to Cedar Court at Redmond, a 430,000 sf,...





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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

  • Challenging Retail Environment Weights on REITs
    Mixed economic news is weighing on retail markets, pushing REIT performance down in 2015. This week, the National Retail Federation announced that back-to-school spending is expected to be down 9.3% in 2015. This news came on the heels of a report from the Commerce Department stating that retail sales declined 0.3%...
     
  • 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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