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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A spike in litigation is anticipated for Europe’s commercial mortgage-backed securitizations as investors increasingly take hits on troubled transactions.
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Noteholders in the large GSW Immobilien loan securitized in two commercial mortgage-backed securitizations, the €1.3 billion ($1.8 billion) Windermere IX and the €1.11 billion ($1.5 billion) Fleet Street Finance 3, were alerted yesterday by the deals’ servicers to potential impacts of any loan modification scenario initiated by the borrower.
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Junior noteholders in the £707.76 million ($1.088 billion) U.K. commercial mortgage securitization Windermere XI are not expected to take an immediate hit from the recent sale of a property underpinning the trade, according to CMBS specialists in London.
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Servicers in Europe’s troubled commercial mortgage-backed securities sector are expected to take a tougher line on loan extensions as the market faces a wave of maturities over the next couple of years, according to industry professionals in London.
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Commercial mortgage-backed securities trader Leonard Blasucci has joined broker-dealer KGS Alpha.
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Wells Fargo and Bank of America-Merrill Lynch are marketing a $780 million private, 144a commercial mortgage securitization.
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Hatfield Philips, the special servicer of CMBS Talisman 7, has agreed to a waiver of the Bach loan’s LTV breach in return for diverting surplus cashflow to repaying the loan and investing in the properties.
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Bondholders in European commercial mortgage-backed securities will need to green-light a discounted pay-off before issuance in the troubled market can get going again, according to securitization lawyers.
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After months of responding retroactively to borrowers’ restructuring proposals, CMBS investors are set to take the initiative.