RECENT NEWS
425,000-SF Indianapolis Office Building on Sales Block
By Jeff Mordock, Commercial Real Estate Direct Staff WriterCrown Properties Inc. is offering for sale First Indiana Plaza, a 425,000-square-foot office building in downtown Indianapolis.The New York real estate firm has tapped CB Richard Ellis' Indianapolis office to...
Developers Diversified Selling Portfolio for $603Mln
Phillips Edison & Co. is paying Developers Diversified Realty Corp. $603 million for 63 shopping centers with 5.7 million square feet.The Cincinnati company has completed the purchase of 52 properties with 4.13 million sf, paying $449 million, and...
Broadreach Pays $100Mln for San Francisco Offices
Broadreach Capital Partners has paid $100.7 million for two San Francisco office buildings totaling 413,230 square feet.The Palo Alto, Calif., real estate firm purchased the properties in separate transactions. It paid Bay Pacific Corp. $58 million for the...
Indiana Office Complex on Sales Block
By Jeff Mordock, Commercial Real Estate Direct Staff WriterZeller Realty is offering for sale Meridian Mark I & II, a 385,000-square-foot office complex in the Indianapolis suburb of Carmel, Ind.The Chicago real estate firm has tapped CB Richard...
Manhattan Office Building Sells for Record $1,589/SF
Commercial Real Estate Direct Staff ReportSomerset Partners has acquired 450 Park Ave. in New York City for about $510 million, or $1,589/sf, a record high for U.S. real estate. As reported by the Wall Street Journal, Somerset, the...
Southern Calif. Office Sells for $83Mln
An affiliate of Tishman Speyer has paid $83 million for 3 Imperial Promenade, a 246,763-square-foot office property near John Wayne International Airport in Orange County, Calif.Tishman purchased the property from AEW Capital Management, which owned it on behalf...
Shopping Center in Santa Clarita, Calif., Sells for $66.4Mln
Grosvenor Investment Management has acquired a 153,687-square-foot retail center in Santa Clarita, Calif., for $66.4 million.The property, Gateway Village, is a two-year-old community center on 17 acres at 28207- 28313 Newhall Ranch Road, within the Valencia master-planned community....
Brooklyn Retail-Office Property Hits Market; Asking $43.5Mln
A 79,000-square-foot office and retail property in Brooklyn, N.Y., is for sale at a $43.5 million asking price. Eastern Consolidated Properties of Manhattan is representing the New York investment group selling the five-building property, which sits on two...
Suburban Los Angeles Apartments Offered for $23.5Mln
A private equity group is offering for sale Bella Vista, a 98-unit apartment complex in the Los Angeles suburb of Sun Valley, Calif.The group has tapped Marcus & Millichap's Los Angeles office to market the property, which has...
Dutch Investor Buys Mixed-Use Property in San Diego for $210Mln
By John Covaleski, Commercial Real Estate Direct WriterWereldhave, a Dutch property investment group, has acquired a 400,000 square-foot mixed-use property in San Diego for $210 million.The property, Broadway 655, at Broadway and Kettner Boulevard in downtown San Diego,...
REIT Buying Upstate N.Y. Medical Office for $36.8Mln
Cogdell Spencer Inc. is buying the Central New York Medical Center, a 111,634-square-foot medical office building on the campus of the Crouse Hospital in Syracuse, N.Y., for $36.8 million.Cogdell, a Charlotte, N.C., REIT that specializes in the medical...
Brooklyn Retail-Office Property Hits Market; Asking $43.5Mln
A 79,000-square-foot office and retail property in Brooklyn, N.Y., is for sale at a $43.5 million asking price. Eastern Consolidated Properties of Manhattan is representing the New York investment group selling the five-building property, which sits on two...
Auto Association Puts $130Mln Asking Price on San Francisco Offices
Commercial Real Estate Direct ReportThe California State Automobile Association is seeking $130 million for its 573,000-square-foot San Francisco office portfolio.As originally reported by the San Francisco Chronicle in March, the association, also called CSAA, has been marketing its...
CMBS Delinquency Inches Up in May to $2.4Bln
Commercial Real Estate Direct Staff ReportThe volume of delinquent CMBS loans inched up again in May to $2.4 billion from $2.26 billion the month before, according to Realpoint.While up a tad on a month-to-month basis, the delinquency rate...
Distressed Loans on Assisted-Living Properties Offered
Commercial Real Estate Direct Staff ReportMission Capital Advisors is offering $15.4 million of distressed mortgages on a portfolio of four assisted-living facilities in northern Louisiana.The New York loan-sales specialist is offering the four-loan portfolio on behalf of a...
Suburban Los Angeles Apartments Offered for $23.5Mln
A private equity group is offering for sale Bella Vista, a 98-unit apartment complex in the Los Angeles suburb of Sun Valley, Calif.The group has tapped Marcus & Millichap's Los Angeles office to market the property, which has...
Southern Calif. Office Sells for $83Mln
An affiliate of Tishman Speyer has paid $83 million for 3 Imperial Promenade, a 246,763-square-foot office property near John Wayne International Airport in Orange County, Calif.Tishman purchased the property from AEW Capital Management, which owned it on behalf...
Shopping Center in Santa Clarita, Calif., Sells for $66.4Mln
Grosvenor Investment Management has acquired a 153,687-square-foot retail center in Santa Clarita, Calif., for $66.4 million.The property, Gateway Village, is a two-year-old community center on 17 acres at 28207- 28313 Newhall Ranch Road, within the Valencia master-planned community....
REIT Buying Upstate N.Y. Medical Office for $36.8Mln
Cogdell Spencer Inc. is buying the Central New York Medical Center, a 111,634-square-foot medical office building on the campus of the Crouse Hospital in Syracuse, N.Y., for $36.8 million.Cogdell, a Charlotte, N.C., REIT that specializes in the medical...
Auto Association Puts $130Mln Asking Price on San Francisco Offices
Commercial Real Estate Direct ReportThe California State Automobile Association is seeking $130 million for its 573,000-square-foot San Francisco office portfolio.As originally reported by the San Francisco Chronicle in March, the association, also called CSAA, has been marketing its...
CMBS Delinquency Inches Up in May to $2.4Bln
Commercial Real Estate Direct Staff ReportThe volume of delinquent CMBS loans inched up again in May to $2.4 billion from $2.26 billion the month before, according to Realpoint.While up a tad on a month-to-month basis, the delinquency rate...
Dutch Investor Buys Mixed-Use Property in San Diego for $210Mln
By John Covaleski, Commercial Real Estate Direct WriterWereldhave, a Dutch property investment group, has acquired a 400,000 square-foot mixed-use property in San Diego for $210 million.The property, Broadway 655, at Broadway and Kettner Boulevard in downtown San Diego,...
Distressed Loans on Assisted-Living Properties Offered
Commercial Real Estate Direct Staff ReportMission Capital Advisors is offering $15.4 million of distressed mortgages on a portfolio of four assisted-living facilities in northern Louisiana.The New York loan-sales specialist is offering the four-loan portfolio on behalf of a...
FINAL PRICING: $5.4Bln JPMorgan Chase Commercial Mortgage Securities Trust, 2007-LDP11
ClassAmt$mlnSubLevel%AvgLife (yrs)RatingS&PRatingMoody'sFinalPricing (bp)BnchmarkA-162.1830.002.57AAAAaa+10swapsA-1A1,155.6530.008.14AAAAaaNAswapsA-2915.6130.004.86AAAAaa+27swapsA-2FL70.0030.004.86AAAAaa+14LiborA-3283.0430.007.46AAAAaa+39swapsA-41,179.6330.009.72AAAAaa+30.5swapsA-SB123.7930.007.11AAAAaa+28.5swapsA-M541.4220.009.92AAAAaa+34.5swapsA-J426.3712.1259.94AAAAaa+41swapsB33.8411.509.94AA+Aa1+47swapsC81.2110.009.94AAAa2+53swapsD54.149.009.94AA-Aa3+61swapsE27.078.509.94A+A1+67swapsF47.377.6259.94AA2+77swapsG54.146.6259.94A-A3+91swapsH67.685.3759.94BBB+Baa1+130swapsJ47.374.509.98BBBBaa2+170swapsK74.453.12510.03BBB-Baa3+250swapsL20.302.75NABB+Ba1NATreasM13.542.50NABBBa2NATreasN20.302.125NABB-Ba3NATreasP6.782.00NAB+B1NATreasQ13.541.75NABB2NATreasT20.301.375NAB-B3NATreasNR74.44NANANRNRNATreas*Notional amount, interest onlyCollateral balance: $5,414.15 millionBookrunner(s): JPMorgan SecuritiesLead Managers: JPMorgan Securities, UBS Investment BankCo-managers: Commerzbank, Natixis SecuritiesB-piece Buyer: American Capital StrategiesMaster Servicer: Wachovia BankSpecial Servicer: CWCapitalTrustee: LaSalle BankOriginators: UBS (36.2 percent), JPMorgan Chase (24...
Investcorp Offers 1.1Mln SF of Northeastern Office Space
Investcorp is offering for sale a 1.1 million-square-foot portfolio of Northeast office properties.The portfolio consists of five buildings in suburban Philadelphia, two in Connecticut, and one in northern New Jersey. It could command as much as $300 million....
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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.
