CMBS

  • No ‘kicking the can’ for European CMBS, says servicer

    No ‘kicking the can’ for European CMBS, says servicer

    CMBS investors are not in favour of long term waivers for distressed transactions, and may expect the sponsor to inject additional equity into a deal in return for waiving defaults, said panellists speaking at S&P’s European Structured Finance Virtual Conference 2020.

  • UK retail is injured but it has ripped off the plaster

    UK retail is injured but it has ripped off the plaster

    The coronavirus has been seen in some quarters as the final nail in the coffin for the long suffering UK retail sector. But having embraced e-commerce earlier than elsewhere, the sector may learn lessons from the crisis faster and emerge stronger, which means UK CMBS holders might not be in as bad a spot as they imagine.

  • Demand for CMBS aid grows on Capitol Hill

    Demand for CMBS aid grows on Capitol Hill

    The US commercial mortgage backed securities (CMBS) market has lacked the kind of extensive government support that other asset classes have received, though data shows it is experiencing difficulties. But some are optimistic that the US government will provide aid for the market in its next round of Covid-19 relief measures.

  • Corona crisis plunges UK university assets into uncertainty

    Corona crisis plunges UK university assets into uncertainty

    UK universities face financial peril. Having been shuttered due to the coronavirus pandemic, some risk going bust, according to the Institute for Fiscal Studies (IFS). Meanwhile, as accommodation operators grant refunds to students who are locked out and locked down, CMBS deals backed by student accommodation may survive, if sufficient numbers return to residences when the next academic year begins. Silas Brown and Tom Brown report.

  • Thompson & Knight adds trio of MBS attorneys

    Thompson & Knight adds trio of MBS attorneys

    Thompson & Knight has hired three litigation attorneys, Keith Brandofino, Maximiliano Rinaldi and David Mignardi, to bolster the commercial real estate and loan servicing business in the firm’s New York office. All three attorneys join from Kilpatrick Townsend.

  • UK university halls CMBS payments deferred after student refund

    UK university halls CMBS payments deferred after student refund

    Noteholder payments have been deferred in a tranche of UK CMBS backed by university halls of residence after the accommodation operator refunded student’s their rent, putting the loan sponsor in the position of having to speculate on demand recovery following the coronavirus outbreak which saw universities shuttered.

  • Legislators urge relief for battered CMBS market

    Legislators urge relief for battered CMBS market

    A group of lawmakers led by Texas Republican Van Taylor has sent a letter this week to secretary of the Treasury Steven Mnuchin and chairman of the Federal Reserve Jerome Powell, urging them to address the ‘looming crisis’ in the commercial real estate market, particularly for struggling borrowers saddled with CMBS debt.

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