Latest news
Latest news
This is the second large industrial CMBS this week which has been successfully lapped up by investors.
KKR is sponsoring a multi-family German CMBS
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David Jacob, the head of Nomura Securities’ fixed-income research group, left the firm last week.
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Loan defaults for U.S. commercial mortgage-backed securities are expected to increase after this year due to loans with high loan-to-value ratios and more interest-only loans being added to new transactions, according to Fitch Ratings.
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Morgan Stanley is marketing ELoC 28, a €1.1 billion pan-European CMBS backed by 15 loans secured on 88 properties with 470 tenants.
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The pressure on CMBS spreads worsened this week as investors shied away from mezzanine risk and new deals joined the pipeline.
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Royal Bank of Scotland has come to market with an £800 million ($1.6 billion) commercial mortgage-backed securitization backed by properties owned by U.K.-based property group Arlington Business Park.
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Merrill Lynch has come to market with its next commercial mortgage-backed securitization installment, the first pan-European transaction in 2007 to be issued in the Taurus program.
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Commercial mortgage-backed securities lenders said origination volumes in the first half of 2007 exceeded expectations but predicted that the market could slow down in the second half of the year.
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Three commercial mortgage securitisations were launched this week, meeting varied receptions.
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Credit Suisse announced the eighth CLO for Avoca Capital Holdings this week. Avoca VIII, a Eu508m European CLO is expected to issue seven tranches, including a Eu37.75m subordinated tranche.