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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Credit rating agencies are feeling the weight of new regulations, causing delays in primary new issuance by up to two weeks, according to bankers.
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A loan securitized in Merrill Lynch’s Taurus (Germany) 2006-1 commercial mortgage-backed deal has had its standstill period extended to Feb. 25 after the borrower failed to repay it on the Oct. 18 maturity date.
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NM Rothschild, the servicer in the Alburn Real Estate Capital 6 securitization, has called on investors in the £188 million ($305.5 million) U.K. commercial mortgage-backed deal to set up a bondholder steering committee in order to thrash out all available options after the issuer’s tender offer to buy back notes expired Jan. 21.
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Gatak Real Estate’s tender offer in the REC 6 CMBS has been rejected, after failing to secure 75% of noteholder votes in each class. The collapse of the tender leaves noteholders with few options, as the transaction is expected to default on its April payment date.
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RiverOak Investment Corp. has obtained its first commercial mortgage-backed securities loan, tapping Ladder Capital for a $20.7 million mortgage on a portfolio of six medical office properties.
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A return to confidence in the debt markets was the theme of the first day of panels at the Commercial Real Estate Finance Council semi-annual conference in Washington, D.C.
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The total balance of commercial mortgage-backed securities loans in special servicing dropped almost $2 billion to $90.1 billion from the second to third quarter of 2010.
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The Opera Finance (Uni-Invest) CMBS could breach its standstill agreement in February, opening the door to a conflict with noteholders. Servicer Eurohypo could struggle to convince noteholders it will act in their interests, as it also holds a mezz position in Uni-Invest.
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One noteholder group in the REC 5 CMBS, backed by Plantation Place, has warned the others that it will block any proposals to sell the property at a distressed level.