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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Securitization shops will hotly compete for floating-rate loans securitized in boom-period commercial mortgage-backed securities deals that are set to mature in the coming months, according to bankers.
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The London-based Canary Wharf Group, the property development and investment firm that manages the Canary Wharf estate, yesterday swapped two properties out of its commercial mortgage securitization.
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Although the recession officially ended in June 2009, its impact on loan performance among U.S. commercial mortgage-backed securities still lingers.
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Commercial mortgage-backed securities investors may be taking too much of a risk when they buy newly issued AAA-rated bonds at a premium.
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Noteholders in the troubled Alburn Real Estate Capital 6 (REC 6) CMBS were discussing whether to accept a tender offer backed by Highcross, a real estate investment fund, this week. This is one of the first CMBS where a third party has put in capital with a view to buying out the whole loan.
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The American Securitization Forum has warned the Financial Stability Oversight Council not to distort the Congress-included securitization exemption while interpreting the Volcker Rule.
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Investors are happy with the National Credit Union Administration’s flood of wrapped mortgage resecuritizations, saying the steady stream hasn’t been a case of oversupply.
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The Royal Bank of Scotland has bought more than 25% of the class A bonds in the Alburn Real Estate Capital (REC 6) commercial real estate securitization, putting it in position to block a tender offer made by the issuer and potentially flip the notes for a profit at a later date.
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Bondholders in the lower end of the capital stack in the troubled Alburn Real Estate Capital (REC) 6 deal would likely green-light the tender offer recently pitched to investors by the issuer, but the decision for those in the senior classes “is less clear cut,” according to commercial real estate analysts in London.