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CMBS

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  • Metro Funding Corp. is looking to hire 10 people in the next six months and grow its commercial real estate lending business by around 30%. The company led $35 million in loans last year. David Hecht, president of MFC, told Total Securitization the firm is looking to play bigger. “The concept in the long run is to penetrate the semi-conventional market and to compete with the big banks,” Hecht said. .
  • Johannes Boeckmann, who led Eurohypo’s commercial mortgage lending business in the U.S., has resigned.
  • South Africa’s Investec Bank has placed the country’s first multi-borrower commercial mortgage-backed securitization, a ZAR1.469 billion ($204 million) deal.
  • Eurohypo is in the market with a €550 million ($734 million) commercial mortgage-backed securitization arranged and originated in-house.
  • U.S commercial mortgage-backed securitization will suffer 15% greater defaults on the 2007 vintage loans, according to research by Fitch Ratings.
  • The UK CMBS market heated up this week as Canary Wharf Group announced a £726m refinancing of its London commercial property complex, Barclays Capital priced its latest conduit offering, and books were built on several other deals.
  • A Dutch land owner has paved the way into the commercial mortgage-backed securities market with the launch of Europe’s first transaction containing collateral made up entirely of car park loans.
  • Morgan Stanley has entered the market with a £601 million ($1.18 billion) true sale U.K. commercial mortgage-backed securitization originated and arranged in-house
  • Mark Jarrell, president and ceo of CRIIMI MAE, has left to rejoin Greystone as director of capital markets.