Latest news
Latest news
TwentyFour priced its Dutch prime RMBS refi, Blackstone its sterling logistics CMBS
Blackstone is aiming to execute its CMBS before the market shuts for Global ABS
Second large office CMBS in quick succession after The Soloviev Group sold a $1.7bn New York office CMBS last week
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An initiative being considered in several municipalities in San Bernardino County, Calif., proposing that local governments may seize mortgages through the laws of eminent domain in order to help underwater borrowers to refinance sets a dangerous precedent, market players say.
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A property underpinning the busted German commercial real estate loan Mozart, securitized in ABN Amro’s EUR1.82 billion ($2.24 billion) Talisman 7 commercial mortgage-backed securities trade, has been sold this week.
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July is set to be another difficult month for CMBS, as many of the €2.5bn of maturing loans are expected to be extended, and the prospects for primary supply wane.
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An initiative being considered in several municipalities in San Bernardino County, Calif., proposing that local governments may seize mortgages through the laws of eminent domain in order to help underwater borrowers to refinance sets a dangerous precedent, market players say.
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Some investors in London are undisturbed by the prospect of Europe’s securitization market shifting from an AAA to a AA market.
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The stalled Deco 6-U.K. commercial mortgage-backed securitization is facing principal losses on its class B, C and D notes later this year, due to falling values and insufficient income in the remaining two loans securitized in the trade.
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Most special servicers of U.S. commercial mortgage-backed securities have improved transparency, crediting in part the use of the CRE Finance Council investor reporting package modification template for disclosing fees and modification terms, according to Fitch Ratings.
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Commercial real estate loans that collateralize commercial mortgage-backed securities inched up in price to 88.2% in May from 88.1% the preceding month, but well above the 81.6% recorded a year ago, according to DebtX. “
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Industry eyes are locked on Northern Rock Asset Management and Bradford & Bingley’s £500 million ($784.5 million) tender offer—which expires Wednesday—for subordinate Granite, Aire Valley and Whinstone U.K. RMBS bonds, with some officials speculating on more buy-backs further down the line.