California + Los Angeles + Student Housing | December 3, 2020

The pnademic's impact on office markets is expected to be more subdued in 2022, says Cox Castle partner Andrew Ouvrier

Canyon Partners Bolsters Holdings with $314M Loan Portfolio Acquisition

Los Angeles-based Canyon Partners Real Estate LLC acquired a $314 million loan portfolio, comprising six senior mortgage loans secured by multifamily, student-housing, self-storage and senior living properties. The collateral properties are diversified across geographic markets including California, Colorado, Rhode Island, Texas and Tennessee, and include assets which are in lease-up as well as fully stabilized.

Canyon’s Robin Potts says, “Commercial real estate lenders have generally not been active sellers of mortgages since the last cycle, but since March 2020, we have seen over $6 billion of commercial mortgages come to the market for sale as lenders reposition their balance sheets and portfolios following COVID-19. Speed and certainty of execution are critical to capturing these opportunities.”

The senior loans are floating-rate with three- to five- year terms inclusive of extension options and feature an average loan balance of roughly $50 million.

The unnamed seller was represented by Eastdil Secured in this transaction.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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