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| Volume VIII, No. 50 |
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December 29, 2000 |
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| KEY RATE INDICES |
FANNIE MAE RATES * |
| Prime Rate |
9.50% |
| 11th District |
5.589% |
| 3 Mo. T’s (YTM) |
5.90%
|
| 6 Mo. T’s (YTM) |
5.71% |
|
| 5 Yr. U.S. T’s |
4.96% |
| 10 Yr. US T’s |
5.08% |
| 30 Yr. US T’s |
5.42% |
| 12-MAT |
6.128% |
|
| LIBOR - 1 mo. |
6.56% |
| LIBOR - 3 mo. |
6.40% |
| LIBOR - 6 mo. |
6.20% |
| LIBOR - 1 yr. |
6.00% |
|
|
| Tier 2+ (80% LTV) |
7.13% |
| Tier 3+ (65% LTV) |
7.05% |
| Tier 4+ (55% LTV) |
6.78% |
| 10 yr. term/30 yr. amort. |
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$1,314,642,800 IN 2000 TRANSACTIONS
Our 4th Consecutive Year Over $1 Billion
In fact, total financings from 1997-2000 = over $5 Billion. In 2000, 115 closed transactions were placed with 60 lenders/sources. George Smith: "Revenues were up significantly even though the amount financed remained virtually the same. This reflected a shift to more structured finance transactions including mezzanine financing and joint venture equity placement. Our average transaction size increased from $9.4 million to $11.5 million. Our focus in developing new investor relationships paid dividends as we closed transactions with over 15 new sources in 2000. Our repeat business customer base continues to expand with several clients now having closed between 10 and 20 transactions. The run-up in interest rates during much of the year saw a slowdown in our fixed rate placements. However, the recent dramatic decline in 10-year Treasuries has seen a shift, as more of our clients are taking advantage of rates below 7% for lower leverage transactions and 7.25-7.50% for 80% LTV CMBS loans. We also added several key members to our production staff and we look forward to 2001." Misc. Notes: Construction financing was up 50% from 1999; Single-Tenant Office accounted for $72,500,00, Retail was by far the leading product type (#2 in 1999) at nearly $577,000,000; Investment and Commercial banks accounted for 2/3 of total financings. |
|
| Property Category |
Lender Type |
|
No |
Amount
|
|
|
No |
Amount
|
| Retail |
37 |
$576,944,500
|
|
Commercial Banks |
39 |
$446,957,500
|
| Office (Multi-Tenant) |
21 |
$360,691,250
|
|
Investment Banks |
20 |
$411,380,000
|
| Apartments |
21 |
$99,594,550
|
|
Credit Companies |
19 |
$303,369,000
|
| Industrial |
12 |
$97,182,500
|
|
Savings & Loans |
12 |
$43,997,500
|
| Single Tenant Office |
3 |
$72,350,000
|
|
Opportunity Funds |
10 |
$42,195,800
|
| Mixed Use |
4 |
$36,995,000
|
|
Life Companies |
5 |
$33,900,000
|
| Condo |
3 |
$28,630,000
|
|
Private Placements |
9 |
$29,240,000
|
| Land |
3 |
$14,830,000
|
|
FNMA |
1 |
$3,603,000
|
| Self Storage |
2 |
$7,260,000 |
|
|
|
|
| SFR |
2 |
$5,355,000 |
|
|
|
|
| Other* |
7 |
$14,810,000
|
|
|
|
|
| * Includes: A theatre, estate homes, driving range, healthcare and a car wash |
| Financing Types |
|
|
|
|
No |
Amount
|
|
|
|
|
| Perm/1st Mortgage |
52 |
$558,855,000
|
|
|
|
|
| Bridge/Reposition |
28 |
$380,550,000
|
|
|
|
|
| Construction |
21 |
$311,292,000
|
|
|
|
|
| Mezzanine |
2 |
$34,200,000
|
|
|
|
|
| Equity |
11 |
$28,495,800
|
|
|
|
|
| Other |
1 |
$1,250,000
|
|
|
|
|
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| * GSP is an L.A. correspondent for ARCS Commercial Mortgage, the nation's largest FNMA/DUS originator. |
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