Latest news
Latest news
Two deals in two months as activity returns for the first time since the Iran war began
TwentyFour priced its Dutch prime RMBS refi, Blackstone its sterling logistics CMBS
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The U.K. taxman’s play for £4.77 million ($7.86 million) of rental tax from White Tower 2006-03 could spark further action against other commercial mortgage-backed securities with U.K. exposure.
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UK retailer Tesco has priced its second CMBS in less than four months — a £564m deal backed by 15 supermarkets and two distribution centres.
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U.K. commercial property rents will feel the pinch of the recession for another three to four years, resulting in greater challenges for the commercial mortgage-backed securities market.
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The U.S. Treasury has rolled out two changes to real estate mortgage investment conduit rules that give borrowers and special servicers more latitude to make loan modifications on troubled commercial real estate loans.
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U.K. retail heavyweight Tesco is marketing its second securitization of the year, a £559.1 million ($918.22 million) deal backed by rental income from 17 of its commercial properties.
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Royal Bank of Scotland’s reported plans to sell off £33 billion ($54.24 billion) of European and U.S. commercial property exposure could negatively affect the European commercial mortgage-backed securities and commercial property lending markets.
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Her Majesty’s Revenue and Customs is looking for its £4.77 million ($7.86 million) cut of the £1.15 billion ($2.47 billion) White Tower 2006-03 securitization of commercial mortgages.
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Master servicers on commercial mortgage-backed securities deals are seeing a steady increase in voluntary defaults.
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Windermere XII, issuer of €1.5 billion ($2.16 billion) of commercial mortgage-backed securities, is likely to appeal last week’s decision by the French Commercial Tribunal, which found in favor of the property owners.