US CMBS off to the races despite true sale uncertainty
US CMBS issuers are prepping five deals totalling about $4.4bn this week, as the market ploughs on despite looming uncertainty over the way sponsors deal with risk retention rules.
Jefferies LoanCore is opting to retain a 5% horizontal strip of the $916.5m COMM 2017-COR2 conduit deal, rather than sell the notes to a third party ‘B’ piece buyer. Jefferies LoanCore originated the mortgages in the deal, along with Deutsche Bank and Citi Real Estate Funding.Deal sponsors ...
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