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| Capital Markets Briefing |
| June 3, 2009 |
Good Afternoon,
Attached is a PDF copy of Colliers Meredith & Grew's interest rate sheet that includes current and historical Treasury, LIBOR and Prime interest rates, which are updated daily with real time data from Strategic Alliance Mortgage.
We provide these updates on a weekly basis to keep our clients and colleagues aware of rate movements. We hope you find this information helpful.
DOWNLOAD INTEREST RATE SHEET (23KB)
The following Market Perspective provides insights and commentary on breaking news and emerging trends in commercial real estate finance.
TREASURIES RALLY
Yields on Treasuries have so far declined across the maturities spectrum today. The shorter maturities (2 and 3 years) contracted modestly while the benchmark 10-year maturity has flirted with double digit basis point declines throughout the day and now stands at 3.547%. The difference between two- and 10-year yields narrowed to 2.63 percentage points at 1:30 p.m., according to Strategic Alliance Mortgage LLC. Yield-driven bond buyers have driven down yields today as the DJIA, which was at 8,614.15 at 2:20 p.m, according to SAM, has thus far given up yesterday's gains.
CMG CAPITAL MARKETS SECURES $5.5M FANNIE MAE DUS LOAN
The Colliers Meredith & Grew Capital Markets group is seeing evidence of improved liquidity in the capital markets for commercial property with Fannie Mae/Freddie Mac/HUD, local/regional banks and portfolio lenders leading the way. As far as asset classes go, multifamily is the darling of the real estate finance industry and economic/demographic trends suggest it will be the most resilient of the four food groups (office, industrial, retail & multifamily) throughout the economic downturn.
CMG Capital Markets has secured $5.5 million in financing for 1110-1120 Beacon Street, a 40-unit, transit-adjacent apartment property totaling 44,800 SF located in Brookline, Massachusetts. CMG Capital Markets placed the 10-year, fixed-rate loan through CWCapital LLC, an authorized Fannie Mae DUS lender, to refinance a maturing CMBS loan that was also placed by CMG Capital Markets. Pricing was in the mid-5% range and CWCapital rate locked the deal in advance of closing. The loan was structured on a 10-year term with a five year interest-only period, followed by a 30-year amortization schedule.
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Treasuries Rise as Bernanke Warns on Deficits, Fed Buys Debt
Bloomberg — June 3, 2009
Treasuries rose after Federal Reserve Chairman Ben S. Bernanke said large budget deficits threaten financial stability and the central bank purchased $7.5 billion of U.S. debt, part of its effort to reduce lending rates.
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| Please contact the Capital Markets Group at Colliers Meredith & Grew with any financing questions.
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Colliers Meredith & Grew is a Boston-based commercial real estate company with integrated service groups including Brokerage, Capital Markets, Counseling & Valuation, Development & Advisory, Investment Sales, and Property & Asset Management. In addition to representing its core clients in New England, Colliers Meredith & Grew provides national and international real estate services to its multi-market clients as a member of Colliers International and as an owner/member of Strategic Alliance Mortgage LLC (SAM). Colliers International is a worldwide affiliation of independently owned and operated companies in more than 293 offices in 61 countries. |
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