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 lender Obvion has returned to the European securitization market with a EUR700 million ($910.4 million) issue of prime Dutch residential mortgage-backed securities from its Storm program.
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U.S. structured finance faces a somewhat hazy outlook next year with improving performance metrics clouded by numerous macro-level economic, political and regulatory uncertainties.
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Fees charged by special servicers of commercial mortgage-backed securities loans have caused about $74 million in deal-level losses to investors over the last four years, according to Deutsche Bank research analyst Harris Trifon.
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Delinquencies in loans in U.S. commercial mortgage-backed securities were above 9% in 2011, closing December up to 9.32%, compared with 8.79% a year earlier, according to Moody’s Investors Service.
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The $1.9 billion San Joaquin County Employees’ Retirement Association will consider investing $100 million in mortgage-backed securities at its Jan. 13 meeting.
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Credit Suisse topped Goldman Sachs and two other bidders in the auction of a $7.014 billion chunk of Maiden Lane II debt because it was bidding on behalf of itself and investors, an investor familiar with the auction said.
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The stalled Dutch office property loan securitized in Credit Suisse’s Titan Europe 2007-2 deal is to be given a further extension to allow the servicer and borrower to plot a restructuring.
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Investors should place the underlying individual assets in securitizations under closer scrutiny in order to mitigate asset correlation across portfolios, according to Bishopsfield Capital Partners.
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The Versailles Court of Appeal ruled on Thursday that the owner of the Coeur Défense tower in Paris would be protected from its creditors — bondholders in the Windermere XII FCT CMBS. The ruling closes a three year legal battle between the borrower and bondholders, and undermines the whole basis of secured lending against French assets.