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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Fitch Ratings has praised a move by commercial mortgage-backed securities special servicer LNR Partners to put into place significant transparency and disclosure controls that will work to assuage investors’ concerns about transparency and special servicers’ fiduciary obligations to best serve the CMBS trust when working out troubled loans.
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A defaulted loan securitized in Credit Suisse’s EUR1.32 billion ($1.64 billion) pan-European commercial mortgage-backed deal Cornerstone Titan 2007-1 has been given until next month to formulate a sales process for the underlying properties.
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Banks acting as counterparties in securitizations are set to begin work swiftly to address the effects of Moody’s Investors Service’s sweeping bank downgrades last week, which will have a far-reaching effect on securitization deal ratings.
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The U.S. Securities and Exchange Commission has launched an investigation Standard & Poor’s last-minute decision last July to pull ratings on a $1.5 billion offer of commercial mortgage-backed securities by Goldman Sachs and Citigroup.
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Deutsche Bank’s planned securitization of German property group Vitus’ multifamily housing portfolio—the sole European commercial mortgage-backed trade slated for 2012—may now not reach the market until well into the second half of this year.
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London-based officials are welcoming the new residential mortgage-backed issue from Virgin Money’s Gosforth program a year after the last deal from that program –under a different sponsor -- came to market.
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The European Central Bank’s decision to relax collateral requirements will have the biggest impact on asset-backed securities and commercial mortgage-backed securities, which have had the most stringent criteria, according to Fitch Ratings.
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Placed issuance in Europe’s securitization market for the first half of 2012 is set to be on par with the same period last year, but the amount of paper placed with end investors by year-end is expected to be up on 2011’s total, according to a new study by Citi.
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UBS and Barclays are preparing UBS-Barclays 2012-C2, their second commercial mortgage-backed securities conduit deal of the year.