Latest news
Latest news
Participants see issuance pace of RMBS and CMBS to persist as spreads grind in despite macro risks
Deal priced at tight end of initial pricing
Investors offered both five and 10 year conduit paper
More articles
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According to regulatory filings with the SEC, JPMorgan plans to securitize a loan to Midwestern indoor waterpark operator Kalahari Resorts in SLIDE 2018-FUN, a single asset-single borrower CMBS deal backed by a three year loan that will help expand its recreational compound in Pocono Manor, Pennsylvania. -
Flanked by mounting competition from other sources of funding and a growing preference from investors for short dated securities, the top of the of CMBS capital stack is struggling to generate demand.
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European commercial real estate is posting strong returns, said Green Street Advisors in a note this week, with the real estate research and data company eyeing greater upside in European property markets compared to US counterparts.
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Sole arranger Santander is out with an RMBS deal from its Holmes master trust, with two dollar tranches available as the bank hopes to tap strong US demand and further diversify its investor base.
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CMBX spreads widened over the past week on the back of negative retail headlines from retailers such as JCPenney and Macy’s, marking the latest turn of the screw in what some have called this credit cycle’s Big Short.
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Larry Brown, president and co-founder of Starwood Mortgage Capital, has announced that he will be retiring next year after more than thirty years in the commercial real estate business.
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The US securitization market has shrugged off macroeconomic turmoil in recent weeks and months, but investors that think sector operates in a vacuum may be due a shock before the end of the summer, according to analysts, writes David Bell.
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Analysts at Bank of America Merrill Lynch argued on Monday that a tide of pressures — a flattening yield curve, trade wars and ballooning corporate bond issuance — will soon turn against the CMBS market. But some players in the sector claim the macro narrative is well overplayed.
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Bank of America Merrill Lynch analysts turned bearish on securitization markets this week, saying that the growing US-China trade war and a flatter US Treasury curve were strong reasons to start taking risk off the table.
