The U.S. Department of Justice has filed a civil mortgage fraud lawsuit against Deutsche Bank AG and its subsidiary, MortgageIT Inc., for allegedly making “false certifications” to the U.S. Department of Housing and Urban Development
Savanna Investment Management LLC, a New York-based institutional real estate private equity and asset management firm, has taken New York by storm in recent months, snapping up such familiar properties as 386 Park Avenue South, a 20-story, 260,000 sq. ft. office tower in Midtown South and 5 Hanover Square, a 25-story office building in the Financial District.
When a distressed portfolio of 13 former Mervyns stores came to market in California and Arizona recently, several of the nation’s biggest brokerages competed for the deal, valued at more than $100 million.
There has been $30.3 billion in new CMBS issuance to date in 2013, according to Commercial Mortgage Alert. That puts the industry on pace to smash last year’s volume of $48.4 billion and will make 2013 the busiest year for CMBS issuance since 2007. Where do you think total CMBS issuance volume will end up in 2013?