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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A partnership between Deutsche Bank and Cantor Commercial Real Estate is preparing a commercial mortgage-backed securities conduit deal. COMM 2012-CCRE1 will be the seventh deal to price this year.
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Trading of commercial mortgage-backed securities last week hit the highest levels since 2012 began, as investors were looking to reposition themselves in the wake of the sale of $7.5 billion of commercial real estate collateralized debt obligations by the Federal Reserve Bank of New York.
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Asset-backed securities traders in London say secondary markets have been muted since the start of May, with trading early this week reportedly still sluggish following the U.K. bank holiday on Monday.
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A workout of commercial mortgage-backed securities has led to sale the Dutch EPI Orange portfolio of office and light industrial properties for EUR50 million ($65.17 million).
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Allied Irish Bank’s first public securitization of residential mortgages, the £428.5 million ($691.2 million) Tenterden Funding PLC, will offer investors a spread of three-month LIBOR plus 250 basis points, a level markedly wider of other recent U.K. prime residential mortgage-backed securities prints.
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Hedge fund D.E. Shaw is launching the Alkali Fund in July, which will invest in residential mortgage-backed securities, consumer asset-backed debt, toxic loans, including European loans, among other instruments. .
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Prepayments of loans from Fannie Mae and Freddie Mac in mortgage-backed securities declined in April after two consecutive months of increases, according to Keefe, Bruyette & Woods.
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The Federal Reserve Bank of Boston had praise for mortgage-backed securities during the financial crisis, saying, compared with most investments, they were “highly transparent and their issuers willingly provided a great deal of information to potential purchasers.”
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David Stevens, president and ceo, of the Mortgage Bankers Association, has called on Fannie Mae and Freddie Mae to develop mortgage-backed securities common to both as a way of increasing liquidity.