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Nomura plans to launch its own conduit during second half of 2026
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Deal represets second green securitization of a New York office tower this month
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The CMBS market has staged a dramatic comeback over the past three weeks, with primary triple-A spreads tightening by over 40bp. Still, observers say they are unsure how long the rally can last. -
Stephen Renna, CEO of the Commercial Real Estate Finance Council (CREFC), the main CMBS industry lobbying organisation, has left the group, according to sources speaking with GlobalCapital.
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Index provider Markit has teamed up with commercial mortgage backed securities data and pricing specialist Trepp to launch total return swaps (TRS) on a cash CMBS index. The initiative targets several gaps in the market, by boosting returns for CMBS investors, providing a hedging tool for originators and giving big corporate clients access to a market otherwise denied them by punitive US tax rules.
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Citi and Goldman on Tuesday sold CGGS 2016-RND, a $1.8bn single borrower CMBS transaction backed by one fixed and one floating rate loan made to Blackstone Group to finance its acquisition of BioMed Realty Trust.
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Bank of America Merrill Lynch closed its €317m Taurus 2016-1 DE CMBS deal this week, only the second CMBS deal to be priced in the last six months as market dynamics create obstacles for the asset class.
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Issuers of CMBS are rethinking their approach to risk retention, shifting the burden of compliance from the buyers of the most subordinated bonds to the banks themselves, said market sources this week.
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Bank of America Merrill Lynch has released price guidance on its new €317m CMBS deal backed by a portfolio of German retail properties, with the bank expected to price the deal on Friday.
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Measures to ease risk retention burdens on the CLO and CMBS markets received the approval of the House Financial Services Committee on Wednesday.
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Bank of America Merrill Lynch has launched the first European CMBS deal since September last year, with a €317m securitization of a loan to Blackstone, secured by German retail properties.
