Reprinted from Shopping Center World's April 1998 issue with some additions. 1 Lehman Brothers 3 World Financial Center New York, NY 10285 Phone: (212) 526-6110 Fax: (212) 528-6824 Amt. Committed/Retail: $5 billion Major projects financed 1997: Water Tower Place, Chicago, amount: $170 million; DDR/DRA power centers, nationwide, amount: $322 million; Dadeland Mall, Miami, amount $140 million; Lloyd Center, Portland, amount: $110 million; Horizon Factory Outlets, nationwide, amount: $275 million; Prime Property Fund, nationwide, amount: $135 million Lending goal 1998: $7.5 billion
2 Nomura Capital 101 California St., Suite 4225 San Francisco, CA 94111 Phone: (800) NOMURA-1 Fax: (415) 743-2001 Amt.Committed/Retail: $2.789 billion Amt. arranged/committed by Region: Midwest: $503,900,000 Northeast: $571,700,000 Southeast: $419,800,000 Southwest: $363,400,000 West: $884,100,000 Major projects financed 1997: Saul Centers portfolio, Amount: $147 million; Dayton Mall, Dayton, OH, Amount: $61.4 million; Burnham Pacific, City of Industry, Lancaster, CA, Amount: $58.5 million; SunWest portfolio, Amount: $50.5 million; Design Center of the Americas, Dania, FL, Amount: $39.9 million; Security Square Mall, Baltimore, MD, Amount $36.5 million Lending goal 1998: $12 billion
3 CS First Boston 11 Madison Ave. New York, NY 10010 Phone: (212) 325-2131 Fax: (212) 325-8185 Amt. Committed/Retail: $2 billion Lending goal 1998: $3 billion
4 CIBC Oppenheimer 425 Lexington Ave., Sixth Floor New York, NY 10017 Phone: (212) 856-3594 Fax: (212) 885-4968 Amt. Committed/Retail: $1.5 billion Amt. committed by Region: Midwest: $100,000,000 Northeast: $250,000,000 Southeast: $100,000,000 Southwest: $250,000,000 West: $200,000,000 Lending goal 1998: $1 billion
5 The Principal Financial Group 711 High St. Des Moines, IA 50392-0001 Phone: (515) 248-4227 Fax: (515) 248-8090 Amt. Committed/Retail: $1.03 billion Amt.committed by Region: Midwest: $180,096,234 Northeast: $98,826,785 Southeast: $314,723,159 Southwest: $186,938,821 West: $251,806,639 Lending goal 1998: $1 billion
6* Goldman Sachs 85 Broad St., 19th Floor New York, NY 10004 Phone: (212) 902-5900 Fax: (212) 357-5505 Web: www.gs.com Amt. Committed/Retail: $1 billion Lending goal 1998: $3.5 billion
6* Morgan Stanley Dean Witter 1585 Broadway New York, NY 10036 Phone: (212) 761-4411 Amt. Committed/Retail: $1 billion
8 TransAtlantic Capital Co. 31 W. 52nd St., 12th Floor New York, NY 10019 Phone: (888) 90-TRANS Fax: (212) 469-8976 Amt. Committed/Retail: $950 million Amt. arranged/committed by Region: Midwest: $55,900,000 Northeast: $84,025,000 Southeast: $19,870,000 Southwest: $7,000,000 West: 38,330,000 Major projects financed 1997: Northville Village Center, Northville, MI, Amount: $19.9 million; Fruitvale Station, Oakland, CA, Amount: $21 million; Mount Pocono Plaza, Mount Pocono, PA, Amount: $11.4 million; Shelbourne Square, Reading, PA, $12.5 million; Hollywood Plaza, Orlando, Amount: $12 million; Vineyard Valley Center, Fontana, CA, Amount: $10.4 million Lending goal 1998: $1.5 billion
9 KeyBank National Association 127 Public Square Cleveland, OH 44114 Phone: (216) 689-3574 Fax: (216) 689-3566 WebSite: www.keybank.com Amt. Committed/Retail: $840 million Amt. arranged/committed by Region: Midwest: $440,000,000 Northeast: $300,000,000 Southeast: $200,000,000 Southwest: $250,000,000 West: $250,000,000 Major projects financed 1997: Palisades Center, West Nyack, NY, Amount: $290 million; Forest City Enterprises, various, Amount: $225 million; The Shops at Sunset Place, South Miami, FL, Amount: $115 million; Preston Village Center, Plano, TX, Amount: $43 million; Downtown Woodinville, Woodinville, WA, Amount: $41 million Lending goal 1998: $950 million
10 GE Capital Real Estate 292 Long Ridge Road Stamford, CT 06927 Phone:, 888-GE FIRST Fax: (203) 357-4475 WebSite: www.ge.com/capital/ comrealestate Amt. Committed/Retail: $800 million Lending goal 1998: $1.6 billion
11* Fleet Bank - Shopping Center Finance Group 75 State St. Boston, MA 02109 Phone: (617) 346-2874 Fax: (617) 346-3220 Website: www.fleet.com Amt. Committed/Retail: $750 million
11* NationsBanc Montgomery Securities LLC 100N. Tryon St., NC1-007-11-07 Charlotte, NC 28255 Phone: (704) 386-2562 Fax: (704) 333-2416 WebSite: www.nationsbank.com Amt. Committed/Retail: $750 million Amt. arranged/committed by Region: Midwest: $40,000,000 Northeast: $150,000,000 Southeast: $260,000,000 Southwest: $225,000,000 West: $75,000,000 Major projects financed 1997: Flagler Park Plaza, Miami, FL, Amount: $30 million; St. Vincent Mall, Shreveport, LA, Amount: $19.3 million; International Drive Value Center, Orlando, FL, Amount: $15.6 million; Copperwood Shopping Center, Houston, TX, Amount: $15.2 million; Towers Shopping Center, Roanoke, VA, Amount: $10.9 million; East Village Square, Atlanta, GA, Amount: $8.2 million Lending goal 1998: $900 million
13 Daiwa Real Estate Finance Corp. One Financial Square 32 Old Slip New York, NY 10005 Amt. Committed/Retail: $70 million Major projects financed 1997: Palm Glen Shopping Center, Phoeniz, AZ, ammount: $9.5 million; Lido Plaza Shopping Center, Las Vegas, NV, Amount: $7 million; Shops at Fairlane, Dearborn, MI, Amount: $12.87 million; Promenade Shopping Center, Palm Beach Garden, FL, Amount: $15.3 million Lending goal 1998: $750 million
14 Hypo Bank Financial Square, 32 Old Slip New York, NY 10005 Phone: (212) 440-0804 Fax: (212) 440-0824 WebSite: www.hypony.com Amt. Committed/Retail: $421,437,441 Amt. arranged/committed by Region: Northeast: $15,000,000 Southeast: $134,700,000 Southwest: $25,000,000 West: $246,737,441 Major projects financed 1997: MacArthur Center, Norfolk, VA, Amount: $150 million; City Mills, Orange, CA, Amount: $136 million; Valley Fair Mall, San Jose, CA, Amount: $100 million; Ontario Mills, Ontario, CA, Amount: $120 million; Park Meadows Mall, Littleton, CO, Amount: $20,883,838 Lending goal 1998: $600 million
15* Bear, Stearns & Co. 245 Park Ave. New York, NY 10167 Phone: (212) 272-6104 Fax: (212)272-7047 Amt. Committed/Retail: $400 million Amt. arranged/committed by Region: Midwest: $80,000,000 Northeast: $100,000,000 Southeast: $80,000,000 Southwest: $40,000,000 West: $100,000,000 Major projects financed 1997: Mission Marketplace, San Diego, CA, Amount: $24 million; Hunterdon Shopping Center, Flemington, NJ, Amount: $6 million; Greentrail Shopping Center, Lisle, IL, Amount: $5.85 million; Goodwill Building/Ames Plaza, Westport, Old Saybrook, CT, Amount: $4.3 million; University Mall, Nacogdoches, TX, Amount: $3.7 million Lending goal 1998: $750 million
15* Capital Lease Funding L.P. 85 John St., 12th Floor New York, NY 10038 Phone: (212) 587-7676 Fax: (212) 267-4976 Amt. Committed/Retail: $400 million Amt. arranged/committed by Region: Midwest: $75,000,000 Northeast: $105,000,000 Southeast: $115,000,000 Southwest: $35,000,000 West: $70,000,000 Lending goal 1998: $750 million
15* Dover House Capital LLC 400 Perimeter Center Terrace, #575 Atlanta, GA 30346 Phone: (770) 351-8300 Fax: (770) 351-8399 WebSite: www.doverhouse.com Amt. Committed/Retail: $400 million Lending goal 1998: $2 billion (total comm.)
15* Finova Realty Capital 19900 MacArthur Blvd., Suite 1100 Irvine, CA 92612 Phone: (888) 242-0700 Fax: (714) 622-3463 WebSite: www.FINOVA.com Amt. Committed/Retail: $400 million Major projects financed 1997: Beverly Connection, Beverly Hills, CA, Amount: $64.5 million; Loma Square, San Diego, CA, Amount: $26.4 million; Portland Fixtures, Portland, Ore., Amount :$17.7 million; Northern Hills, Texas, Amount: $5.1 million.
19* Heller Financial Inc. 500 W. Monroe St. Chicago, IL 60661 Phone: (312) 441-6700 Fax: (312) 441-7119 WebSite: www.hellerfin.com Amt. Committed/Retail: $350 million Major projects financed 1997: Sweetwater Square, San Diego, CA, Amount: $12.4 million; Quail Springs Marketplace, Oklahoma City, OK, Amount: $2.2 million; Bruno's, Mobile, AL, Amount: $6.2 million; Just For Feet, Colorado Springs, CO, Amount: $2.5 million Lending goal 1998: $500 million
19* Northland Financial Co. 3600 W. 80th St., Suite 250 Minneapolis, MN 55431 Phone: (612) 921-8000 Fax: (612) 921-8021 Amt. Committed/Retail: $350 million Amt. arranged/committed by Region: Midwest: $200,000,000 Southwest: $200,000,000 West: $200,000,000 Major projects financed 1997: Phoenix Corporate Center, Phoenix, AZ, Amount $27.5 million; Murrieta Town Center, Murrieta, CA, Amount: $20 million; Tacoma Place, Tacoma, WA, Amount: $19.5 million; Noland Fashion Square, Independence, MO, Amount: $18.525 million; Yoahan Plaza, Torrance, CA, Amount: $10.5 million; Northcourt Commons, Minneapolis, MN, Amount: $11.4 million Lending goal 1998: $800 million
21 LaSalle National Bank 135 S. LaSalle St. Chicago, IL 60603 Phone: (312) 904-8323 Fax: (312) 904-6691 Amt. Committed/Retail: $342 million Amt. arranged/committed by Region: Midwest: $342,000,000 Major projects financed 1997: Oak Park Shopping Center, Oak Park, IL; Century Mall, Chicago, IL; Elk Grove Towne Centre, Elk Grove, IL; Lending goal 1998: $342 million
22 Liberty Mortgage Acceptance Corp. 400 Capitol Mall Sacramento, CA 95814 Phone: (916) 568-0100 Fax: (916) 568-0110 Website: www.libertymac.com Amt. committed/retail: $276.5 million Amt. arranged/committed by Region: Midwest: $114,200,000 Northeast $ 70,700,000 Southeast: $124,220,000 Southwest: $180,420,000 West: $23,600,000 Major projects financed 1997: Kmart, Jackson, MI, Amount: $5.5 million; Wal-Mart Center, Colorado Springs, CO, Amount: $3.747 million; Big Curve Shopping Center, Yuma, AZ, Amount: $6.072 million; Walgreen's/Universal Plaza, Orlando, FL, Amount: $8.4 million; Hannaford Brothers Supermarket, Richmond VA, Amount: $4.165 million; Bay Plaza Kmart, Bronx, NY, Amount: $10.7 million Lending goal 1998: $400 million
23 Midland Loan Services L.P. 210 W. 10th St. Kansas City, MO 64105 Phone: (800) 746-4623 Fax: (816) 435-2326 WebSite: www.midlandls.com Amt. Committed/Retail: $194,256,250 Amt. arranged/committed by Region: Midwest: $40,000,000 Northeast: $22,000,000 Southeast: $20,000,000 Southwest: $40,000,000 West: $72,000,000 Lending goal 1998: $1.3 billion
24 Atherton Capital Inc. 1001 Baghill Drive San Bruno, CA 94066 Phone: (650) 827-7800 Fax: (650) 827-7950 Amt. Committed/Retail: $180 million Amt. arranged/committed by Region: Midwest: $50,000,000 Northeast: $50,000,000 Southeast: $30,000,000 Southeast: $30,000,000 West: $20,000,000 Lending goal 1998: $375 million
25* Summit Bank 301 Carnegie Center Princeton, NJ 08543 Phone: (609) 520-6462 Fax: (609) 987-3240 WebSite: www.summitbank.com Amt. Committed/Retail: $150 million Amt. arranged/committed by Region: Northeast: $150,000,000 Major projects financed 1997: ACP Cross Keys, Turnersville, NJ, $24 million; Roxville Center, Ledgewood, NJ, $52 million; Indianhead Plaza, Dover Township, NJ, Amount: $18 million; Lauren Mall, Hazelton, PA, Amount: $20 million
25* Crestar Bank 919 E. Main St. Richmond, VA 23219 Phone: (804) 782-7245 Fax: (804) 782-7986 WebSite: www.crestar.com Amt. Committed/Retail: $150 million Amt. arranged/committed by Region: Southeast: $150,000,000
* Represents a tie
* Retail returns averaged 6.7% in '97
* REITs' retail returns were 4.5%
* Retail rents rose 5.4%
* Retail sales climbed 5.3%
* Neighborhood shopping centers outperform all other retail categories with average sales of $216 per sq. ft. in '97
* Neighborhood centers showed a 16% increase in net operating balances since 1994
* Community centers showed a 10% increase in net operating balances since '94
* Superregionals showed a 5% increase in net operating balances since 1994
* Regionals' net operating balances dropped 7.2% in the same period