GRAND Repayment Seen As Boost; Investor Fund Use Looms (UPDATE)
Deutsche Annington Immobilien is set to fully repay noteholders in its German Residential Asset Note Distributor (GRAND) commercial mortgage securitization—the largest ever European CMBS—on Monday July 22. Industry pros are hailing the move as a positive for the region’s market, though some are wary over how investors may put that money to work while paper remains scarce.
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