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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Morgan Stanley is looking to rebuild its commercial mortgage-backed securities team as the sector’s vital signs improve.
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Pierre Mendelsohn, London-based managing director and head of Europe, the Middle East and Africa securitized products at Bank of America, has left the bank and will join Morgan Stanley in July.
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Asset backed securities have ceased to be the most common form of collateral used in the European Central Bank’s liquidity facilities, according to data published by the ECB this week. Uncovered bank bonds overtook ABS as the largest single asset class in the Eurosystem during 2009, as ABS’s share fell from 28% to 23%. The ECB attributed the decline to lower market values and increased haircuts as the absolute level of collateral submitted remained "stable" at Eu468bn. Overall, an average of Eu2.034tr of collateral was put forward by banks during the year.
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Vesteda, the Dutch residential real estate fund, has privately placed a Eu350m CMBS, the first European CMBS of the year and one of very few not backed by a credit tenant since the crisis.
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Europe’s commercial mortgage-backed securities industry needs to get back on track soon, before real money investors put their cash in other asset classes or invest in the U.S., according to Hans Vrensen, London-based global head of research at real estate advisory DTZ.
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StormHarbour Capital has added five ICP Capital structured finance professionals to its London operations.
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European noteholders of troubled commercial mortgage securitizations want hard amortization and greater guidance and consultation from special servicers.
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The Netherlands-based Vesteda, a residential property investment fund, has privately placed with investors the first issuance of a commercial mortgage securitization of 2010.
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Spreads on vintage AAA-rated super senior commercial mortgage-backed securities are continuing to tighten, driven by strong interest in a new multi-borrower deal from Royal Bank of Scotland.