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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High demand for Nationwide Building Society’s recently priced U.K. residential mortgage-backed trade Silverstone 2012-1 has caused spreads on its bonds to tighten as much as 15 basis points on the secondary market, traders in London said Monday morning.
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A matured balloon loan on the Cadillac Fairview retail portfolio helped to fuel an uptick in commercial real estate collateralized debt obligations in February, according to sister publication Real Estate Finance Intelligence.
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Silverstein Properties is set to tap the commercial mortgage-backed securities market for roughly $577 million in financing to refinance Liberty bonds that were used to construct 7 World Trade Center in Lower Manhattan and pay down other debt.
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A busted German office loan securitized in Credit Suisse’s EUR1.32 billion ($1.74 billion) pan-European commercial mortgage-backed deal Cornerstone Titan 2007-1 has been given until the end of March to try and hash out a recovery plan.
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Recent increases in yields on mortgage-backed securities are fueling fears that banks will accelerate sales of the MBS, which they acquire as a hedge when interest rates drop and refinancing activity climbs.
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Nationwide Building Society priced its new issue of U.K. prime residential mortgage-backed securities, Silverstone Master Issuer 2012-1, on Thursday afternoon.
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Bond prices in Northern Rock’s Granite U.K. residential mortgage securitization—considered the European market barometer—have risen slightly since late last month, but overall prices have remained largely flat as secondary activity has stayed muted.
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Credit Suisse has priced Aggregator of Loans Backed by Assets (ALBA) 2012-1, a rare U.K. non-conforming residential mortgage securitization, with market pros welcoming the result as an indicator of the depth of the market.
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Way back in July, SI reported that investors were still “sifting through” Bank of America’s $8.5 billion settlement with aggrieved bondholders, and that traders were touting multi-million Bids-Wanted-In-Competition s of senior tranche notes, saying cashflows on the legacy paper were set to increase 8-10% percent (SI, 7/1/11).