CMBS

  • Buyers eye UK retail assets as high street reopens

    Buyers eye UK retail assets as high street reopens

    With the UK opening up high street retail on Monday, investors are said to be eyeing retail real estate for opportunities. But the market, hit hard by the pandemic, will be slow to recover – with Newcastle’s Metrocentre becoming a prominent example of the future for shopping centres after the pandemic.

  • BOAD president seeks to bolster bank finances in aim to support regional recovery

    BOAD president seeks to bolster bank finances in aim to support regional recovery

    Development banks across the world — and especially those in Africa — have proven to be indispensable sources of relief during the last year. Though Africa has a wealth of challenges to economic recovery, the West African Development Bank, also known as Banque Ouest Africaine de Développement (BOAD), has high ambitions for the year ahead. The bank’s president Serge Ekué spoke to GlobalCapital about these ambitions, including an imminent capital raise.

  • Ghana divides opinion with zero coupon

    Ghana divides opinion with zero coupon

    The Republic of Ghana brought innovation to the emerging market bonds this week, by selling Africa’s first zero coupon international deal. But the “risky” trade ignited debate among bankers and investors after it attracted a smaller order book than expected and required generous pricing as debt sustainability concerns swirled.

  • BlackRock lays out ESG securitization scorecard

    BlackRock lays out ESG securitization scorecard

    The European securitization market is seeing a faster pace of ESG deals but it needs to find more ESG-friendly assets before it can expect much more issuance. Peter Winning, portfolio manager and analyst in BlackRock's EMEA ABS team, spoke with GlobalCapital to outline how the world’s largest asset manager invests in ESG securitizations.

  • Blackstone brings European logistics CMBS as spreads tighten

    Blackstone brings European logistics CMBS as spreads tighten

    Blackstone has mandated Morgan Stanley to help it syndicate a €373.4m last mile logistics securitization with assets in the Netherlands and Germany, as conditions improve in the CMBS market. The deal is set to be priced this week.

  • BoA bets on German ‘groundscraper’ with airport CMBS

    BoA bets on German ‘groundscraper’ with airport CMBS

    Bank of America is betting on the performance of one of Germany’s biggest office buildings known as “the Squaire” by securitizing a loan secured on the airport-adjacent property, following Blackstone's sale of the building to AGC Equity Partners. Investors appear confident in the deal’s prospects, with initial price thoughts guiding the senior tranche at 120bp on Tuesday.

  • B&B Hotels launches liquidity deal

    B&B Hotels launches liquidity deal

    Goldman-owned hotel chain B&B Hotels has launched a new loan deal for liquidity, in a test for the loan market's capacity for the next generation of rescue funding in the most distressed industries. The deal comes alongside an equity cheque of €80m.

  • Solutus self-sale in question as CMBS workout turns ugly

    Solutus self-sale in question as CMBS workout turns ugly

    Noteholders in Deco 11 UK Conduit 3, a defaulted UK CMBS issued in 2006, have questioned the deal's dénouement, which saw special servicer Solutus, responsible for maximising their recoveries, sell the properties backing the deal to another company controlled by its owner, Lancashire property tycoon Tim Knowles.

  • Together mixes CRE and resi in unique securitization

    Together mixes CRE and resi in unique securitization

    Together, the specialist mortgage lender, is bringing a unique UK securitization with a portfolio combining buy-to-let residential properties and commercial real estate, a first of its kind for the market.

All CMBS Articles