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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Dutch commercial mortgage-backed securities face potential risks this year from continued declines in secondary commercial real estate values and a likely increase of distressed portfolios coming to market, according to Fitch Ratings.
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Center Parcs UK’s securitisation of its holiday resorts marks a fresh spurt of development for whole business securitisation, one of the hottest financial products of the late 1990s and 2000s, but one where innovation has slowed since the financial crisis.
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Deutsche Bank’s Merry Hill CMBS — still only the second true CMBS backed by a European asset since the crisis — has left market participants wondering whether the German bank lost money on the trade. Despite the questionable economics though, the deal boasts a string of innovative features such as US distribution and full 17g5 compliance.
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JPMorgan Chase has tripled to $72 billion its holdings of mortgage securities without U.S. government guarantees by adding debt mainly from outside the U.S., such as the U.K. and the Netherlands.
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Several investment banks are said to be approaching investors this week for bids on the final $6.7 billion piece of the Federal Reserve Bank of New York’s Maiden Lane II portfolio.
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Market players say timing and the extent of guarantee fee increases are the big questions looming in the Federal Housing Finance Agency’s plan to build a single mortgage-backed securities platform for the government sponsored enterprises.
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A property backing one of the loans securitized in Barclays Capital’s U.K. conduit commercial mortgage securitization Indus (Eclipse 2007-1) is set to be sold off.
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Trading in Europe’s secondary asset-backed securities market has been somewhat muted this week, with prices in Northern Rock’s Granite residential mortgage-backed vehicle —the region’s market bellwether—reportedly remaining settled, traders said.
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Fitch Ratings has downgraded nine commercial mortgage backed securities issued by Credit Suisse because of an increase in expected losses attributed to performance declines among the top 15 loans and updated valuations of specially serviced loans.