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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Wells Fargo is said to be preparing to offer at least $1 billion in commercial mortgage-backed securities next week, closely following a $1.1 billion CMBS from Morgan Stanley this week.
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Fitch Ratings has downgraded six classes of commercial mortgage-backed securities issued by JPMorgan Chase after the loan pool suffered realized losses of $48.5 million.
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The £28.5 million ($45.09 million) Ventura Park loan securitized in Titan 2007-3 was disposed at a principal loss of £8.67 million ($13.73 million), after special servicer Hudson Advisors Germany GmbH agreed to accept £20.14 million ($31.88 million) as repayment from an unidentified purchaser.
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Morgan Stanley is expected to price the 10-year, super-senior bonds of MSC 2012-C4, its new conduit deal, at swaps plus 105—the tightest levels seen in more than a year, and five basis points tighter than similar bonds from the most recent deal led by Deutsche Bank.
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Properties underpinning loans securitized across the European commercial mortgage-backed market are seeing “dramatic” falls in their loan valuations, according to a study by Royal Bank of Scotland analysts in London.
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Commercial mortgage-backed securities are performing better as the balance of CMBS continues to shrink, according to Moody’s Investors Service.
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Banks have been avoiding Standard & Poor’s as a source of commercial mortgage-backed securities ratings after Goldman Sachs and Citigroup pulled their $1.5 billion CMBS deal last July because S&P refused to rate the notes.
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A number of bids wanted in competition dominated by commercial mortgage-backed paper surfaced in Europe’s secondary market this week.
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Credit Suisse is arranger and sole bookrunner on a rare U.K. non-conforming residential mortgage-backed issue, Aggregator of Loans Backed by Assets (A.L.B.A.) 2012-1, which surfaced Tuesday morning.