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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The delinquency rate for loans in U.S. commercial mortgage-backed securities fell sharply in February, dropping 15 basis points to 9.37%, its lowest level in 12 months, according to Trepp.
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Tishman Speyer’s recent sale of Second and Seneca, a Seattle office property securitized in a 2007 commercial mortgage-backed securities deal, a rare instance in which a hope note workout results in a loan resolution, according to sister publication Real Estate Finance Intelligence.
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David Tibbals, the longtime head of Citigroup’s commercial mortgage lending business, has joined New York-based broker-dealer Amherst Securities as senior managing director, according to sister publication Real Estate Finance Intelligence.
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Unpaid debt on loans in European commercial mortgage-backed securities could end the year at a record EUR10 billion ($13.2 billion), according to Standard & Poor’s.
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A new German insolvency law came into force on Thursday, bringing in stronger rights for creditors — a move which could strengthen German law CMBS deals, and encourage more restructuring on German bank balance sheets.
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Deutsche Bank priced the 10-year, AAA-rated A4 class of its $941.3 million commercial mortgage-backed securities deal COMM 2012-LC4 at 110 basis points over swaps, the tightest levels on 10-year bonds from conduit deals since May 2011.
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A record 102 loans in European commercial mortgage-backed securities entered Standard & Poor’s delinquencies index in January, compared with just 63 a year ago.
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March represents a lull in loans in European commercial mortgage-backed securities maturity with only one loan due, according to Fitch Ratings.
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The second stage of the European Central Bank’s Long-Term Refinancing Operation, which saw 800 European banks borrow a total of EUR529.5 billion ($706.1 billion) on Wednesday, will help sustain the rally in the region’s securitization markets, London-based officials say.