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Sunday, 28 April 2002

Mid-Atlantic Regional Digest (4/29/02): Brandywine REIT Tapped to Build Huge Philly Project

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April 29, 2002

Brandywine REIT tapped to build huge Philly project
The Philadelphia Business Journal

PHILADELPHIA – Brandywine Realty Trust, based in Newtown Square, Pa., is said to have been selected to develop a major office complex on a long-talked about parcel owned by Amtrak across from 30th Street Station in Center City Philadelphia. The REIT would construct an office tower of 500,000 square feet or more on just under an acre between 29th and 30th streets fronting Arch Street. The company has retained Caesar Pelli as architect for the project. The site is part of an area designated as a Keystone Opportunity Zone, which gives companies that move there certain local and state tax breaks for a decade.

Lender plans foreclosure on Granby Street hotel
The Virginian-Pilot

NORFOLK, Va. – The partnership that owns a Granby Street boutique hotel may be about to file for bankruptcy to hold off a foreclosure by one of its lenders. The hotel, Tazewell Hotel & Suites, a Ramada Plaza Hotel, at 245 Granby St., opened less than two years ago as a symbol of Norfolk's downtown renaissance. The lender on the property is an affiliate of GE Capital, according to court records. The property is owned by Commonwealth Enterprises LLC, which is expected to file for bankruptcy today. Nonetheless, a foreclosure auction has been slated for 11 am on May 14.

Reports: 1Q shows little improvement over 2001
The Washington Business Journal

WASHINGTON – The first quarter of 2002 looked a lot like the last quarter of 2001 for the commercial real estate industry. The office markets of the District of Columbia and close-in suburbs remained strong with vacancy rates leveling off, while outer suburban areas saw a continued climb in vacancy rates. Vacancy increased by just 0.6 percent in the first quarter, with net absorption at 289,488 square feet in D.C., according to a recent Spaulding & Slye report. The federal government has pulled up the slack left by the private sector, with big leases and renewals by the National Park Service and the Department of Agriculture. Sublet space in the outer submarket has decreased overall, primarily due to tenants giving space back to the landlords, resulting in "no net change for the overall market conditions," according to the report.

Profile: 'When corporate real estate was young'
The Washington Post

WASHINGTON – In the late 1970s, before there was CB Richard Ellis – well before – there was a small new commercial real estate brokerage shop called Coldwell Banker, which employed about 30 cocky young brokers who helped change the complexion of commercial real estate in the nation's capitol and the nation. The Post gives a profile of that firm in today's "From the Ground Up" column.

Commercial Real Estate Direct provides links to full stories where available.


“The Weekly”

“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

  • Breaking mortgage, CMBS, and REIT news

  • Quarterly league tables with rankings of B-piece buyers, book runners, and lenders

  • Industry moves and changes in “The Insider“

Additional Info

  • Syndicate to Realpoint: No
  • Subject: Development/Construction (DEV), Mid-Atlantic Regional Digest (MADIG)
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Data Digest







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




cppichart FP



CMBS 2.0 Spreads


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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