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Issuer's £280m deal was cleverly marketed
Agar previously worked at Guggenheim Securities
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Natixis has priced the senior bond from Principal Residential Investment Mortgages 1, a novel securitization of Dutch non-conforming residential mortgages.
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The delinquency rate of loans in U.S. commercial mortgage-backed securities slipped 2 basis points to 8.30% in February, there were increases in office, multifamily and industrial properties, according to Fitch Ratings.
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Delinquencies of loans in U.S. multifamily commercial mortgage backed securities are still near record highs despite a solid recovery in the apartment sector, according to Standard & Poor’s.
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Two more groups of issuers have set new commercial mortgage-backed securities deals, with a partnership between UBS, Barclays Capital and Archetype Mortgage Capital planning a $1.5 billion securitization for April and a venture between Goldman Sachs, Citigroup, Jefferies & Co. and Archetype Mortgage Capital planning a similarly sized deal in May, according to sister publication Real Estate Finance Intelligence.
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BlackRock, which already acquired the non-investment grade bonds from a new conduit deal from Morgan Stanley and Bank of America, has reportedly struck a deal to buy the deal’s mezzanine tranches as well, according to REFI.
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U.S. commercial mortgage-backed securities delinquency rates fell 15 basis points to 9.37% in February, according to Trepp, LLC.
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Wells Fargo is said to be preparing to offer at least $1 billion in commercial mortgage-backed securities next week, closely following a $1.1 billion CMBS from Morgan Stanley this week.
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Fitch Ratings has downgraded six classes of commercial mortgage-backed securities issued by JPMorgan Chase after the loan pool suffered realized losses of $48.5 million.
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The £28.5 million ($45.09 million) Ventura Park loan securitized in Titan 2007-3 was disposed at a principal loss of £8.67 million ($13.73 million), after special servicer Hudson Advisors Germany GmbH agreed to accept £20.14 million ($31.88 million) as repayment from an unidentified purchaser.