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Issuer's £280m deal was cleverly marketed
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Standard & Poor’s has placed German CMBS Fleet Street Finance 2 on CreditWatch Negative ahead of a shareholder vote later this month on a restructuring plan.
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Servicer Eurohypo has entered into a standstill agreement with the borrower and mezzanine lenders in Dutch CMBS Opera Finance (Uni-Invest), whose underlying loan came due on Thursday.
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Dutch property firm Uni-Invest, the borrower behind the €1.01 billion ($1.39 billion) Opera Finance (Uni-Invest) Dutch commercial mortgage securitization, has entered into an agreement to stave off a fire sale of the deal’s underlying collateral.
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Matthew Bailey, London-based director of securitized principal finance at Commerzbank, has left the firm to join HSBC.
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Global Tower Partners is issuing $250 million in five-year commercial mortgage backed securities.
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Fleet Street Finance Two, a €1.912 billion ($2.61 billion) commercial mortgage securitization of German shopping centres, could have its legal final maturity extended three years if restructuring plans go ahead, a first for Europe.
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Bank of America’s Global Securities Solutions’ trust and administration unit has ceased all new securitization business.
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Montclair Plaza, a General Growth Properties mall in Montclair, Calif., has had its $190 million senior mortgage transfer to special serving.
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Spreads on recent vintage super seniors have rallied, tightening 10 to 15 basis points as of Tuesday afternoon.