RECENT NEWS
Southern California Retail Property Sells for $21.9Mln
An Arcadia, Calif., investor has paid $21.9 million for Bryant Ranch Shopping Center, an 89,692-square-foot retail property in the Los Angeles suburb of Yorba Linda, Calif.The buyer, which operates as First Duarte Bryant Ranch LLC, purchased the property...
ING Pays $55.5Mln for Boulder, Colo., Retail Center
ING Clarion Partners has acquired a joint-venture interest in the Village Shopping Center, a 212,116-square-foot retail property in Boulder, Colo., in a deal valued at $55.5 million. The New York investment manager purchased the property on behalf of...
Corus Lends $29.8Mln for Atlanta Condos
An affiliate of the Lane Co. has lined up $29.8 million of financing for the Serrano Condominiums, a 150-unit project under way in Atlanta.The affiliate, Abernathy Investment Associates, received the financing from Corus Bank, a Chicago lender. Terms...
FINAL PRICING: $2.1Bln Credit Suisse Commercial Mortgage Trust, 2007-C4
ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingMoody'sFinalPricing (bp)BnchmarkA-125.5030.002.7AAAAaa+40swapsA-1A275.2930.007.5AAAAaaNAswapsA-2219.2030.004.7AAAAaa+70swapsA-3333.7930.006.7AAAAaa+75swapsA-AB36.9430.007.0AAAAaa+65swapsA-4566.1730.009.7AAAAaaNAswapsA-M50.0020.009.9AAAAaa+85swapsA-1AM158.1320.009.8AAAAaaNAswapsA-J50.0014.6259.9AAAAaa+100swapsA-1AJ61.8714.6259.9AAAAaaNAswapsB23.4113.509.9AA+Aa1+125swapsC28.6212.1259.9AAAa2+135swapsD23.4111.009.9AA-Aa3+150swapsE18.2110.1259.9A+A1+170swapsF18.219.259.9AA2+195swapsG20.818.259.9A-A3+225swapsH20.817.259.9BBB+Baa1+285swapsJ26.026.009.9BBBBaa2+335swapsK28.624.6259.9BBB-Baa3+435swapsL20.813.6259.9BB+Ba1NATreasM7.813.259.9BBBa2NATreasN5.203.009.9BB-Ba3NATreasO5.202.759.9B+B1NATreasP5.202.509.9BB2NATreasQ7.812.1259.9B-B3NATreasS44.230.0010.2NRNRNATreasA-X2,081.26*NA8.3AAAAaaNATreas*Notional amount, interest onlyCollateral balance: $2,081.26Bookrunner(s): Credit SuisseLead Managers: Credit SuisseCo-managers: RBS Greenwich Capital, PNC Capital MarketsB-piece Buyer: ING ClarionMaster Servicer: KeyCorp Real Estate Capital Markets; Wachovia Bank; Midland Loan Services; NCB FSBSpecial Servicer: ING...
FINAL PRICING: $2.5Bln JPMorgan Chase Commercial Mortgage Securities Corp., 2007-LDP12
ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchRatingMoody'sFinalPricing (bp)BnchmarkA-119.0130.002.36AAAAAAAaa+60swapsA-1A287.3030.008.59AAAAAAAaaNAswapsA-2444.9030.004.78AAAAAAAaa+65swapsA-SB54.1830.006.89AAAAAAAaa+60swapsA-3346.1930.006.81AAAAAAAaa+83swapsA-4601.6930.009.80AAAAAAAaa+57swapsA-M250.4720.009.90AAAAAAAaa+85swapsA-J197.2412.1259.96AAAAAANR+110swapsB21.9211.259.96AA+AA+NR+135swapsC28.1810.1259.96AAAANR+145swapsD21.929.259.96AA-AA-NR+155swapsE12.528.759.96A+A+NR+185swapsF25.057.759.96AANR+215swapsG28.186.6259.96A-A-NR+245swapsH28.185.509.96BBB+BBB+NR+325swapsJ28.184.3759.96BBBBBBNR+400swapsK28.183.259.96BBB-BBB-NR+500swapsL9.392.875NABB+BB+NRNATreasM9.392.50NABBBBNRNATreasN6.262.25NABB-BB-NRNATreasP6.262.00NAB+B+NRNATreasQ6.261.75NABBNRNATreasT3.131.625NAB-B-NRNATreasNR40.700.00NANRNRNRNATreas*Notional amount, interest onlyCollateral balance: $2,504.67 millionBookrunner(s): JPMorgan SecuritiesLead Managers: JPMorgan Securities, UBS SecuritiesCo-managers: Natixis SecuritiesB-piece Buyer: JER Investors TrustMaster Servicer: Wells Fargo BankSpecial Servicer: J.E. Robert Cos.Trustee: LaSalle Bank Originators: JPMorgan Chase (41.2 percent),...
FINAL PRICING: $4.1Bln Wachovia Bank Commercial Mortgage Trust, 2007-ESH
This transaction priced on Aug. 17.ClassAmt$mlnAvgLife (yrs)SubLevel%RatingS&PRatingFitchRatingMoody'sFinalPricing (bp)BnchmarkA-1600.001.8085.37AAAAAAAaa+45LiborA-2FL121.004.8075.61AAAAAAAaa+60LiborA-2FX279.004.8075.61AAAAAAAaaNAswapA-3800.004.8056.10AAAAAAAaaNALiborA-4FL250.004.8037.20AAAAAAAaa+65LiborA-4FX525.004.8037.20AAAAAAAaaNAswapB125.364.8034.14AA+AA+Aa1NALiborC-FL85.864.8029.80AAAAAa2+100LiborC-FX91.984.8029.80AAAAAa2NAswapD107.644.8027.18AA-AA-Aa3+110LiborE114.164.8024.39A+A+A1NALiborF124.521.8021.35AAA2NALiborG131.041.8018.16A-A-A3NALiborH130.441.8014.98BBB+BBB+Baa1NALiborJ100.001.8012.54BBBBBBBaa2NALiborK214.001.807.32BBB-BBB-Baa3NALiborL200.001.802.44BB+BB+Ba1NALiborM100.001.800.00BBBBBa2NALiborX-2A700.00*NANAAAAAAAAaaNALiborX-2B700.00*NANAAAAAAAAaaNALibor*Notional amount, interest onlyCollateral balance: $2,147.43 millionBookrunner(s): Wachovia Securities, Bear Stearns, Banc of America, Merrill LynchLead Managers: Wachovia Securities, Bear Stearns, Banc of America, Merrill LynchMaster Servicer: Wachovia BankSpecial Servicer: Wachovia...
New Jersey Retail Center Sells for $45.4Mln
Riverfront Plaza, a 129,250-square-foot retail center in northern New Jersey, has traded hands for $45.4 million, or $351/sf.The property, at 500 S. River St. in Hackensack, near both I-80 and Route 46, was purchased by Crossroads Cos. of...
FINAL PRICING: $3Bln LB-UBS Commercial Mortgage Trust, 2007-C6
ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchRatingMoody'sFinalPricing (bp)BnchmarkA-121.0030.003.47AAAAAAAaa+45swapsA-1A422.8530.008.18AAAAAAAaaNAswapsA-2495.0030.004.78AAAAAAAaa+73swapsA-3169.0030.006.95AAAAAAAaa+75swapsA-AB67.0030.006.93AAAAAAAaa+67swapsA-4910.4130.009.80AAAAAAAaa+59swapsA-M297.8920.009.88AAAAAAAaa+85swapsA-J156.4014.759.88AAAAAAAaa+105swapsB33.5113.6259.88AA+AA+Aa1+135swapsC37.2412.3759.88AAAAAa2+145swapsD33.5111.259.88AA-AA-Aa3+155swapsE29.7910.259.88A+A+A1+175swapsF29.799.259.90AAA2+195swapsG33.518.1259.96A-A-A3+225swapsH37.246.8759.96BBB+BBB+Baa1+300swapsJ40.965.509.96BBBBBBBaa2+350swapsK29.784.509.96BBB-BBB-Baa3+450swapsL44.683.00NABB+BB+NRNATreasM14.902.50NABBBBNRNATreasN11.172.125NABB-BB-NRNATreasP3.722.00NAB+B+NRNATreasQ7.451.75NABBNRNATreasS7.451.50NAB-B-NRNATreasT44.680.00NANRNRNRNATreas*Notional amount, interest onlyCollateral balance: $2,978.94 millionBookrunner(s): Lehman Brothers, UBS SecuritiesLead Managers: Lehman Brothers, UBS SecuritiesCo-managers: Banc of America SecuritiesMaster Servicer: Wachovia BankSpecial Servicer: Midland Loan ServicesTrustee: LaSalle BankOriginators: Lehman Brothers (64.1 percent), UBS (35.9...
Southern California Retail Property Sells for $21.9Mln
An Arcadia, Calif., investor has paid $21.9 million for Bryant Ranch Shopping Center, an 89,692-square-foot retail property in the Los Angeles suburb of Yorba Linda, Calif.The buyer, which operates as First Duarte Bryant Ranch LLC, purchased the property...
Corus Lends $29.8Mln for Atlanta Condos
An affiliate of the Lane Co. has lined up $29.8 million of financing for the Serrano Condominiums, a 150-unit project under way in Atlanta.The affiliate, Abernathy Investment Associates, received the financing from Corus Bank, a Chicago lender. Terms...
FINAL PRICING: $2.1Bln Credit Suisse Commercial Mortgage Trust, 2007-C4
ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingMoody'sFinalPricing (bp)BnchmarkA-125.5030.002.7AAAAaa+40swapsA-1A275.2930.007.5AAAAaaNAswapsA-2219.2030.004.7AAAAaa+70swapsA-3333.7930.006.7AAAAaa+75swapsA-AB36.9430.007.0AAAAaa+65swapsA-4566.1730.009.7AAAAaaNAswapsA-M50.0020.009.9AAAAaa+85swapsA-1AM158.1320.009.8AAAAaaNAswapsA-J50.0014.6259.9AAAAaa+100swapsA-1AJ61.8714.6259.9AAAAaaNAswapsB23.4113.509.9AA+Aa1+125swapsC28.6212.1259.9AAAa2+135swapsD23.4111.009.9AA-Aa3+150swapsE18.2110.1259.9A+A1+170swapsF18.219.259.9AA2+195swapsG20.818.259.9A-A3+225swapsH20.817.259.9BBB+Baa1+285swapsJ26.026.009.9BBBBaa2+335swapsK28.624.6259.9BBB-Baa3+435swapsL20.813.6259.9BB+Ba1NATreasM7.813.259.9BBBa2NATreasN5.203.009.9BB-Ba3NATreasO5.202.759.9B+B1NATreasP5.202.509.9BB2NATreasQ7.812.1259.9B-B3NATreasS44.230.0010.2NRNRNATreasA-X2,081.26*NA8.3AAAAaaNATreas*Notional amount, interest onlyCollateral balance: $2,081.26Bookrunner(s): Credit SuisseLead Managers: Credit SuisseCo-managers: RBS Greenwich Capital, PNC Capital MarketsB-piece Buyer: ING ClarionMaster Servicer: KeyCorp Real Estate Capital Markets; Wachovia Bank; Midland Loan Services; NCB FSBSpecial Servicer: ING...
BPG Fund Pays $23.9Mln for Vegas Retail Center
A fund sponsored by BPG Properties Ltd. has paid $23.9 million for Winterwood Pavilion, a 144,653-square-foot retail center in Las Vegas.The property, at 2208-2292 S. Nellis Blvd., is 90 percent leased to tenants such as Aaron Rents, Carl's...
ING Pays $55.5Mln for Boulder, Colo., Retail Center
ING Clarion Partners has acquired a joint-venture interest in the Village Shopping Center, a 212,116-square-foot retail property in Boulder, Colo., in a deal valued at $55.5 million. The New York investment manager purchased the property on behalf of...
Mortgage Volume Increases in 2Q
Commercial Real Estate Direct Staff Report Commercial and multifamily mortgage origination volume in the second quarter of 2007 increased 26 percent from the first quarter. The volume, as reported by the Mortgage Bankers Association, also was up 40...
Hearn to Purchase Irvine, Calif., Office Building for $112Mln
The Hearn Co. has agreed to pay $112 million for 1830 Von Karman, a 230,605-square-foot office building in Irvine, Calif. The Chicago firm is purchasing the property from Maguire Properties Inc. of Los Angeles. The purchase price translates...
Acquisition to Double BB&T Commercial Mortgage Portfolio to $20Bln
Commercial Real Estate Direct Staff Report BB&T will double its commercial mortgage servicing portfolio to $20 billion with its pending acquisition of Collateral Real Estate Capital.The acquisition will also expand BB&T, a Southeast regional bank, into Fannie Mae's...
Habitat Co. Offers 533-Unit Chicago Apartment Building
Habitat Co. is offering for sale Columbus Plaza, a 533-unit apartment building in downtown Chicago.The Chicago developer has tapped HFF Inc. to market the 48-story building. It is hitting the market without an asking price, but expected to...
Correction: Secondary Mortgage Market Blossoms with Offerings
First Financial Network of Oklahoma City is offering a $200 million portfolio for a bank client, with bids due on Aug. 28. The Aug. 17 story, "Secondary Mortgage Market Blossoms with Offerings," incorrectly stated when the bids were...
Phillips Edison & Co. Purchases 275,406 SF of Retail Space
Phillips Edison & Co. has completed the purchase of three retail properties totaling 275,406 square feet in two separate transactions.The Cincinnati real estate firm purchased two properties totaling 193,295 sf from Developers Diversified Realty Corp. The larger of...
Simon Purchases Massive San Diego Mall
Simon Property Group Inc. has purchased The Shops at Las Americas, a 560,000-square-foot retail property in San Diego.The Indianapolis retail REIT acquired the property from a joint venture between Stoltz Real Estate Partners and an institutional investor managed...
$350Mln in Financing Provided for Soho Hotel-Condo Project
A venture between the Trump Organization, Sapir Group and Bayrock Group has lined up $350 million of senior and mezzanine debt for the construction of Trump Soho, a 400-unit hotel and condominium project in Manhattan.The venture received $75...
Mortgage Volume Increases in 2Q
Commercial Real Estate Direct Staff Report Commercial and multifamily mortgage origination volume in the second quarter of 2007 increased 26 percent from the first quarter. The volume, as reported by the Mortgage Bankers Association, also was up 40...
Hearn to Purchase Irvine, Calif., Office Building for $112Mln
The Hearn Co. has agreed to pay $112 million for 1830 Von Karman, a 230,605-square-foot office building in Irvine, Calif. The Chicago firm is purchasing the property from Maguire Properties Inc. of Los Angeles. The purchase price translates...
Correction: Secondary Mortgage Market Blossoms with Offerings
First Financial Network of Oklahoma City is offering a $200 million portfolio for a bank client, with bids due on Aug. 28. The Aug. 17 story, "Secondary Mortgage Market Blossoms with Offerings," incorrectly stated when the bids were...
Simon Purchases Massive San Diego Mall
Simon Property Group Inc. has purchased The Shops at Las Americas, a 560,000-square-foot retail property in San Diego.The Indianapolis retail REIT acquired the property from a joint venture between Stoltz Real Estate Partners and an institutional investor managed...
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Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
