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Latest news
German, Polish and Spanish logistics properties back the €200m deal
New deal types offer lower funding costs for property owners
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Credit Suisse’s £778 million ($1.45 billion) Titan Europe 2007 commercial-mortgage backed securitization has been hit by downgrades following the bankruptcy of one of the underlying tenants, Ilva Furniture.
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The expected default of a $225 million loan on the Riverton Apartments has prompted Standard & Poor’s to place tranches in one commercial mortgage-backed securitization and two commercial real estate collateralized debt obligations on credit watch negative.
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The Royal Bank of Scotland’s Epic Industrious commercial mortgage-backed securitization has become the latest U.K. deal to breach loan-to-value triggers.
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GE Real Estate International, the Asian and European arm of GE Real Estate, is targeting acquisitions of senior debt portfolios.
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The £30 million ($60 million) class B tranche of the Gemini Eclipse commercial mortgage-backed securitization has been placed on review for downgrade by Moody’s Investors Service.
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Citigroup, First Gulf Bank, Abu Dhabi Commercial Bank, National Bank of Abu Dhabi and Noor Islamic Bank have priced Sorouh Real Estate’s innovative asset backed sukuk.
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Investcorp has started up a $1 billion fund to invest in performing commercial and residential real estate debt.
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Breaches of loan to value covenants in European CMBS are unlikely to lead to enforcement of security, according to a report published by Standard & Poor’s this week.
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London-based real estate investment trust Liberty International has purchased £111 million ($217 million) of European commercial mortgage-backed securities bonds—its biggest CMBS foray yet.