RECENT NEWS
Brandywine Pays $96.3Mln for Richmond, Va., Offices
Brandywine Realty Trust has paid $96.3 million for The Boulders Office Park, a 508,607-square-foot office building in Richmond, Va.The Malvern, Pa., REIT purchased the five-building property from SugarOak Properties of Herndon, Va., which marketed it through HFF Inc.,...
IStar Sells Stake in Detroit’s Comerica Tower to Mayfield Gentry
Commercial Real Estate Direct Staff ReportIStar Financial has sold a minority stake in Detroit's Comerica Tower office building to investment manager Mayfield Gentry Realty Advisors. IStar acquired the 941,354-square-foot building at One Detroit Center three months ago in...
FINAL PRICING: $2Bln Morgan Stanley Capital I Inc., 2007-HQ12
ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchFinalPricing (bp)BnchmarkA-140.0030.004.10AAAAAA+22swapsA-1A366.0030.00NAAAAAAANAswapsA-2289.1030.004.78AAAAAA+38.5swapsA2-FL395.0030.004.78AAAAAA+25LiborA-3131.5030.005.96AAAAAA+48swapsA-466.3530.007.89AAAAAA+47swapsA-583.0030.009.57AAAAAA+48swapsA-M170.8620.009.70AAAAAA+53swapsAM-FL25.0020.009.70AAAAAA+41.5LiborA-J53.0012.6259.76AAAAAA+58swapsAJ-FL91.4412.6259.76AAAAAA+46LiborB41.6210.509.78AAAA+75swapsC22.039.3759.81AA-AA-+85swapsD24.488.1259.87AA+100swapsE14.697.3759.87A-A-+120swapsF24.486.1259.87BBB+BBB+200swapsG22.035.009.87BBBBBB+235swapsH22.033.8759.87BBB-BBB-+200swapsJ14.693.125-BB+BB+NATreasK4.902.875-BBBBNATreasL7.352.50-BB-BB-NATreasM4.902.25-B+B+NATreasN4.902.00-BBNATreasO4.901.75-B-B-NATreasP4.901.50-CCC+CCC+NATreasQ4.901.25-CCCCCCNATreasS24.480.00-NRNRNATreasX1,958.56*NA-AAAAAANATreas*Notional amount, interest onlyCollateral balance: $1,958.56 millionBookrunner(s): Morgan StanleyLead Managers: Morgan Stanley Co-managers: Bear StearnsB-piece Buyer: LNR PartnersMaster Servicer: Wells Fargo BankSpecial Servicer: LNR PartnersTrustee: LaSalle BankOriginators: Morgan Stanley (100 percent)Number of Loans/Properties: 97/130Top-10 Concentration:...
Cammeby’s Pays $135Mln for Suburban Philly Apartments
Cammeby's International Ltd. has paid $135 million for Lynnewood Gardens, a 1,798-unit apartment complex in the Philadelphia suburb of Elkins Park, Pa.The New York firm purchased the property from an undisclosed seller, which marketed the complex through Gebroe-Hammer...
San Diego Office, Research Property Sells for $23.7Mln
The Sycamore Creek Research Park, an 80,123-square-foot office/research property in San Diego, has sold for $23.7 million.A private investor purchased the three-building property from an entity operating as Sorrento Business & Science Center LLC. Grubb & Ellis brokered...
FINAL PRICING: $4.8Bln Citigroup Commercial Mortgage Trust, 2007-C6
This transaction priced on July 25.ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchFinalPricing (bp)BnchmarkA-1155.0030.003.68AAAAAA+22swapsA-1A488.9330.009.23AAAAAANAswapsA-2259.0030.004.90AAAAAA+31swapsA-3387.0030.006.51AAAAAA+45swapsA-3B126.3030.009.33AAAAAA+48swapsA-SB140.0030.007.19AAAAAA+45swapsA-41,573.0030.009.73AAAAAA+42swapsA-M450.6020.009.86AAAAAA+47swapsA-MFL50.0020.009.86AAAAAA+35LiborA-J245.3011.6259.87AAAAAA+54swapsA-JFL150.0011.6259.87AAAAAA+42LiborB23.8011.1259.94AA+AA++64swapsC71.349.6259.94AAAA+70swapsD35.708.8759.94AA-AA-+78swapsE29.738.259.94A+A++85swapsF35.707.509.94AA+95swapsG47.566.509.94A-A-+105swapsH53.275.3759.94BBB+BBB++200swapsJ65.634.009.94BBBBBB+230swapsK53.272.8759.94BBB-BBB-+315swapsL11.902.6259.94BB+BB+NATreasM11.902.3759.94BBBBNATreasN17.852.009.94BB-BB-NATreasO11.901.759.94B+B+NATreasP5.951.6259.94BBNATreasQ5.951.509.94B-B-NATreasS71.410.0010.66NRNRNATreasX4,760.55*NANAAAAAAANATreas*Notional amount, interest onlyCollateral balance: $4,760.55 millionBookrunner(s): CitigroupLead Managers: CitigroupCo-managers: Capmark Securities, PNC Capital Markets, Banc of America Securities, Lehman BrothersB-piece Buyer: American Capital StrategiesMaster Servicer: Midland Loan ServicesSpecial Servicer:...
Glimcher Sells Houston Mall for $40Mln
An affiliate of WCF Development has paid $40 million for the Almeda Mall, a 782,353-square-foot retail property in Houston, Texas.The Houston firm purchased the property from Glimcher Realty Trust, a Columbus, Ohio, REIT, that marketed it through Eastdil...
CMBS Delinquency Level Falls in June to $2.27Bln
Commercial Real Estate Direct Staff ReportThe volume of delinquent CMBS fell in June to $2.27 billion from $2.4 billion a month earlier, according to Realpoint.The reduction in volume was due in large part to the liquidation of $62.5...
Cornerstone Pays $58Mln for Suburban Los Angeles Office
Cornerstone Real Estate Advisors has paid $58 million for The Lakes, a 174,065-square-foot office complex in West Covina, Calif.The firm purchased the two-building complex on behalf of a Los Angeles pension fund from Ten West Associates, a Los...
ING Venture Pays $18.3Mln for Houston-Area Medical Office
A venture led by ING Clarion Partners has paid $18.3 million for a 68,832-square-foot medical office building near Houston.The venture with Montecito Medical Co. acquired the Conroe Medical Arts and Surgical Plaza, at 1501 River Pointe in Conroe,...
Brandywine Pays $96.3Mln for Richmond, Va., Offices
Brandywine Realty Trust has paid $96.3 million for The Boulders Office Park, a 508,607-square-foot office building in Richmond, Va.The Malvern, Pa., REIT purchased the five-building property from SugarOak Properties of Herndon, Va., which marketed it through HFF Inc.,...
FINAL PRICING: $2Bln Morgan Stanley Capital I Inc., 2007-HQ12
ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchFinalPricing (bp)BnchmarkA-140.0030.004.10AAAAAA+22swapsA-1A366.0030.00NAAAAAAANAswapsA-2289.1030.004.78AAAAAA+38.5swapsA2-FL395.0030.004.78AAAAAA+25LiborA-3131.5030.005.96AAAAAA+48swapsA-466.3530.007.89AAAAAA+47swapsA-583.0030.009.57AAAAAA+48swapsA-M170.8620.009.70AAAAAA+53swapsAM-FL25.0020.009.70AAAAAA+41.5LiborA-J53.0012.6259.76AAAAAA+58swapsAJ-FL91.4412.6259.76AAAAAA+46LiborB41.6210.509.78AAAA+75swapsC22.039.3759.81AA-AA-+85swapsD24.488.1259.87AA+100swapsE14.697.3759.87A-A-+120swapsF24.486.1259.87BBB+BBB+200swapsG22.035.009.87BBBBBB+235swapsH22.033.8759.87BBB-BBB-+200swapsJ14.693.125-BB+BB+NATreasK4.902.875-BBBBNATreasL7.352.50-BB-BB-NATreasM4.902.25-B+B+NATreasN4.902.00-BBNATreasO4.901.75-B-B-NATreasP4.901.50-CCC+CCC+NATreasQ4.901.25-CCCCCCNATreasS24.480.00-NRNRNATreasX1,958.56*NA-AAAAAANATreas*Notional amount, interest onlyCollateral balance: $1,958.56 millionBookrunner(s): Morgan StanleyLead Managers: Morgan Stanley Co-managers: Bear StearnsB-piece Buyer: LNR PartnersMaster Servicer: Wells Fargo BankSpecial Servicer: LNR PartnersTrustee: LaSalle BankOriginators: Morgan Stanley (100 percent)Number of Loans/Properties: 97/130Top-10 Concentration:...
Cammeby’s Pays $135Mln for Suburban Philly Apartments
Cammeby's International Ltd. has paid $135 million for Lynnewood Gardens, a 1,798-unit apartment complex in the Philadelphia suburb of Elkins Park, Pa.The New York firm purchased the property from an undisclosed seller, which marketed the complex through Gebroe-Hammer...
FINAL PRICING: $1.5Bln Credit Suisse Mortgage Securities Corp., 2007-TFL2
This transaction priced on July 24.ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchRatingMoody'sFinalPricing (bp)BnchmarkA-1521.3056.771.3AAAAAAAaa+18LiborA-2100.0048.481.6AAAAAAAaa+23LiborA-3207.0031.321.7AAAAAAAaa+27LiborB45.7027.531.7AA+AA+Aa1+35LiborC42.6024.001.7AAAAAa2+45LiborD33.5021.221.7AA-AA-Aa3+65LiborE36.6018.181.7A+A+A1+70LiborF36.5015.161.7AAA2+85LiborG33.5012.381.7A-A-A3+90LiborH39.609.101.7BBB+BBB+Baa1+100LiborJ36.606.061.8BBBBBBBaa2+130LiborK39.602.782.2BBB-BBB-Baa3+170LiborL33.470.002.7BBB-BBB-Ba1+210LiborCSP-A1101.00NA1.6AAAAAAAaa+25LiborCSP-A233.60NA1.7AAAAAAAaa+32LiborCSP-B10.60NA1.7AA+AA+Aa1+40LiborCSP-C11.50NA1.7AAAAAa2+50LiborCSP-D9.90NA1.7AA-AA-Aa3+60LiborCSP-E10.00NA1.7A+A+A1+75LiborCSP-F9.70NA1.7AAA2+95LiborCSP-G19.90NA1.7BBB+BBB+Baa1+110LiborCSP-H9.90NA1.7BBBBBBBaa2+140LiborCSP-J15.90NA1.7BBB-BBB-Baa3+165LiborCSP-K18.00NA1.7BB+BB+Ba1+200LiborBSL-A8.90NA1.4NRAA-Aa3+65LiborBSL-B9.00NA1.4NRA+A1+75LiborBSL-C8.90NA1.4NRAA2+85LiborBSL-D8.90NA1.4NRA-A3+90LiborBSL-E7.90NA1.4NRBBB+Baa1+115LiborBSL-F9.90NA1.4NRBBBBaa2+130Libor*Notional amount, interest onlyCollateral balance: $1,509.47 millionBookrunner(s): Credit SuisseLead Managers: Credit SuisseMaster Servicer: KeyCorp Real Estate Capital MarketsSpecial Servicer: KeyCorp Real Estate Capital MarketsTrustee: Wells Fargo BankOriginators: Credit Suisse (100...
San Diego Office, Research Property Sells for $23.7Mln
The Sycamore Creek Research Park, an 80,123-square-foot office/research property in San Diego, has sold for $23.7 million.A private investor purchased the three-building property from an entity operating as Sorrento Business & Science Center LLC. Grubb & Ellis brokered...
FINAL PRICING: $4.8Bln Citigroup Commercial Mortgage Trust, 2007-C6
This transaction priced on July 25.ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchFinalPricing (bp)BnchmarkA-1155.0030.003.68AAAAAA+22swapsA-1A488.9330.009.23AAAAAANAswapsA-2259.0030.004.90AAAAAA+31swapsA-3387.0030.006.51AAAAAA+45swapsA-3B126.3030.009.33AAAAAA+48swapsA-SB140.0030.007.19AAAAAA+45swapsA-41,573.0030.009.73AAAAAA+42swapsA-M450.6020.009.86AAAAAA+47swapsA-MFL50.0020.009.86AAAAAA+35LiborA-J245.3011.6259.87AAAAAA+54swapsA-JFL150.0011.6259.87AAAAAA+42LiborB23.8011.1259.94AA+AA++64swapsC71.349.6259.94AAAA+70swapsD35.708.8759.94AA-AA-+78swapsE29.738.259.94A+A++85swapsF35.707.509.94AA+95swapsG47.566.509.94A-A-+105swapsH53.275.3759.94BBB+BBB++200swapsJ65.634.009.94BBBBBB+230swapsK53.272.8759.94BBB-BBB-+315swapsL11.902.6259.94BB+BB+NATreasM11.902.3759.94BBBBNATreasN17.852.009.94BB-BB-NATreasO11.901.759.94B+B+NATreasP5.951.6259.94BBNATreasQ5.951.509.94B-B-NATreasS71.410.0010.66NRNRNATreasX4,760.55*NANAAAAAAANATreas*Notional amount, interest onlyCollateral balance: $4,760.55 millionBookrunner(s): CitigroupLead Managers: CitigroupCo-managers: Capmark Securities, PNC Capital Markets, Banc of America Securities, Lehman BrothersB-piece Buyer: American Capital StrategiesMaster Servicer: Midland Loan ServicesSpecial Servicer:...
GE Lends $156Mln for Apartment Portfolio
The Bethany Group has lined up $156.6 million of financing for a 1,559-unit apartment portfolio located throughout the Southeastern United States.The Irvine, Calif., investor received the financing from GE Real Estate. The fixed-rate debt package consists of an...
IStar Sells Stake in Detroit’s Comerica Tower to Mayfield Gentry
Commercial Real Estate Direct Staff ReportIStar Financial has sold a minority stake in Detroit's Comerica Tower office building to investment manager Mayfield Gentry Realty Advisors. IStar acquired the 941,354-square-foot building at One Detroit Center three months ago in...
CMBS Delinquency Level Falls in June to $2.27Bln
Commercial Real Estate Direct Staff ReportThe volume of delinquent CMBS fell in June to $2.27 billion from $2.4 billion a month earlier, according to Realpoint.The reduction in volume was due in large part to the liquidation of $62.5...
Cornerstone Pays $58Mln for Suburban Los Angeles Office
Cornerstone Real Estate Advisors has paid $58 million for The Lakes, a 174,065-square-foot office complex in West Covina, Calif.The firm purchased the two-building complex on behalf of a Los Angeles pension fund from Ten West Associates, a Los...
ING Venture Pays $18.3Mln for Houston-Area Medical Office
A venture led by ING Clarion Partners has paid $18.3 million for a 68,832-square-foot medical office building near Houston.The venture with Montecito Medical Co. acquired the Conroe Medical Arts and Surgical Plaza, at 1501 River Pointe in Conroe,...
Glimcher Sells Houston Mall for $40Mln
An affiliate of WCF Development has paid $40 million for the Almeda Mall, a 782,353-square-foot retail property in Houston, Texas.The Houston firm purchased the property from Glimcher Realty Trust, a Columbus, Ohio, REIT, that marketed it through Eastdil...
FINAL PRICING: $1.5Bln Credit Suisse Mortgage Securities Corp., 2007-TFL2
This transaction priced on July 24.ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingFitchRatingMoody'sFinalPricing (bp)BnchmarkA-1521.3056.771.3AAAAAAAaa+18LiborA-2100.0048.481.6AAAAAAAaa+23LiborA-3207.0031.321.7AAAAAAAaa+27LiborB45.7027.531.7AA+AA+Aa1+35LiborC42.6024.001.7AAAAAa2+45LiborD33.5021.221.7AA-AA-Aa3+65LiborE36.6018.181.7A+A+A1+70LiborF36.5015.161.7AAA2+85LiborG33.5012.381.7A-A-A3+90LiborH39.609.101.7BBB+BBB+Baa1+100LiborJ36.606.061.8BBBBBBBaa2+130LiborK39.602.782.2BBB-BBB-Baa3+170LiborL33.470.002.7BBB-BBB-Ba1+210LiborCSP-A1101.00NA1.6AAAAAAAaa+25LiborCSP-A233.60NA1.7AAAAAAAaa+32LiborCSP-B10.60NA1.7AA+AA+Aa1+40LiborCSP-C11.50NA1.7AAAAAa2+50LiborCSP-D9.90NA1.7AA-AA-Aa3+60LiborCSP-E10.00NA1.7A+A+A1+75LiborCSP-F9.70NA1.7AAA2+95LiborCSP-G19.90NA1.7BBB+BBB+Baa1+110LiborCSP-H9.90NA1.7BBBBBBBaa2+140LiborCSP-J15.90NA1.7BBB-BBB-Baa3+165LiborCSP-K18.00NA1.7BB+BB+Ba1+200LiborBSL-A8.90NA1.4NRAA-Aa3+65LiborBSL-B9.00NA1.4NRA+A1+75LiborBSL-C8.90NA1.4NRAA2+85LiborBSL-D8.90NA1.4NRA-A3+90LiborBSL-E7.90NA1.4NRBBB+Baa1+115LiborBSL-F9.90NA1.4NRBBBBaa2+130Libor*Notional amount, interest onlyCollateral balance: $1,509.47 millionBookrunner(s): Credit SuisseLead Managers: Credit SuisseMaster Servicer: KeyCorp Real Estate Capital MarketsSpecial Servicer: KeyCorp Real Estate Capital MarketsTrustee: Wells Fargo BankOriginators: Credit Suisse (100...
CT Realty Pays $11.5Mln for Calif. Office Building
CT Realty Corp. has paid $11.5 million for a 44,790-square-foot office building in Laguna Hill, Calif. The Newport Beach, Calif., company bought the two-story office building on behalf of its CT California Fund V from a division of...
Bayrock Increases Stake in 4Mln-SF Miami Mixed-Use Project
Bayrock Group has purchased an increased stake in Midtown Miami, a 4 million-square-foot mixed-use complex in Miami.The New York firm bought out the partnership interest of Samuel Development, one of the three firms constructing the project. The size...
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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.
