Latest news
Latest news
Participants expect asset class to stay well bid though some are cautious sentiment could easily change
Bank's fourth five-year conduit CMBS of 2025 was oversubscribed even as it tightened from IPTs
Firm’s JSI ETF passes $1bn mark in under two years
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European performance and STS framework should be taken into consideration -
Commercial real estate CLOs set for record year
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Rating agency worried that triple-A tranches could be exposed to unexpected losses
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Legacy conduits promise spread pick-up in tight market
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Strategic Value Partners has closed its fifth special situations fund at its hard cap of $5bn, as it tries to differentiate itself from other distressed debt funds through direct sourcing.
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Brookfield Asset Management has mandated Morgan Stanley for a German CMBS of assets in North Rhine-Westphalia, bringing a portfolio of residential multifamily properties, with limited exposure to the worst flooding in the country’s recent history.
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Sole arranger Bank of America has added £104.5m to Taurus 2021-4, a UK logistics CMBS sponsored by Blackstone, ahead of pricing on Thursday. The deal had trouble matching subscription levels seen for logistics CMBS at the beginning of the year, but demand came in strong lower down in the capital stack, reflecting a shift in investor preferences as the UK economy reopens.
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French alternative asset manager Tikehau Capital has closed its second European special opportunities fund at €617m, with a broad mandate which allows flexibility to push into several corners of capital markets.
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The three-year restructuring plan for four Intu shopping centres is set to see cash poured into London, Nottingham and Glasgow retail hubs after the group collapsed into administration in June 2020. But CMBS noteholders are set to see yields recover to only 60% of the outstanding amount by the time of a likely asset sale, bringing into doubt the prospect of future shopping-centre securtiizations.
