Latest CMBS news
Sources speaking with GlobalCapital on Wednesday say that the growth of the commercial real estate CLO market is gnawing away at lenders’ ability to keep underwriting standards high and remain competitive, pushing out traditional sources of debt capital in favor of debt funds and other alternative providers.
Clifden IOM, the fund which failed in its tender offer for UK non-conforming RMBS bonds from the RMAC series earlier this year, is still on the hunt for assets from the issuer of Fairhold Securitisation, a pre-crisis distressed CMBS backed by UK ground rents.
Money360, a smaller commercial real estate lender, is joining a number of new issuers who are securitizing floating rate bridge and transitional loans.
As construction costs continue to rise and interest rates tick higher, a number of US banks are reporting that they are mulling a step back from commercial real estate.
Shelter Growth is coming to market with a commercial real estate conduit deal, helping the CMBS space to pick up speed during a relatively quiet July.
June was a busy month for CMBS issuance, with the highest monthly volume in more than three years, though a dearth of triple-A buyers pushed spreads out to their widest levels of 2018.
As demand for investments with good environmental, social and governance credentials rises, are non-performing loans the ultimate social asset class — or toxic waste that ESG investors should disdain?
Together Financial Services Limited (Together) is boosting its commercial real estate (CRE) lending strategy with the announcement on Wednesday of a £525m warehouse facility to support growth, adding to three other existing private facilities.
Ares Management is marketing $460m of seasoned fixed-rate subordinate B-pieces from Freddie Mac deals in the secondary market.
In partnership with MUFG Union Bank, the American subsidiary of Japanese giant bank Mitsubishi Financial Group, Principal Real Estate Investors has announced the debut of MUFG Principal Commercial Capital, a lending platform focused on originating loans and securitizing them in CMBS deals.
Go to GlobalCapital's Securitization data pages for our dealflow database, plus details of priced European and US CLOs and structured finance bookrunner league tables.
Latest securitization people & markets news
- HSH Nordbank bondholders query NPL sale
- ECB to give weakest banks extra NPL time
- SFIG chief out as management issues, pay echo ASF woes
- Euro PP buyers lean to loans as MAR and MiFID bite
- THL acquires CLO manager
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Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|2||Bank of America Merrill Lynch (BAML)||6,103||21||10.42|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|2||Bank of America Merrill Lynch||60,472.76||166||9.84%|
|4||Wells Fargo Securities||48,082.68||138||7.82%|