Latest news
Latest news
Rating cut as note pays more interest than planned
Inflation caused by war threatens budding recovery in commercial real estate
The rise of the European master trust and the CLO market nears shut down
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The London & Regional Debt Securitisation (LORDS) No. 1 U.K. commercial mortgage-backed deal has seen its class A and B notes downgraded by Standard & Poor’s as the single loan underpinning the deal nears maturity in October.
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The volume of European securitization issuance could end the year down on last year’s total, Standard & Poor’s said in a study Wednesday, noting amount of issuance already placed with investors up to the end of July—EUR44 billion ($54.78 billion)—was down 10% on the same period in 2011.
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The U.S. market was quiet last week, with a two-pronged credit card receivables deal from American Express and a quieter triple net lease deal from STORE Capital the only stories getting told. -
London-based officials are mulling whether the recent tightening in U.K. prime residential mortgage-backed securities has pushed spreads beneath the 110-120 to 160-170 basis points region, present since mid-2009, towards a new established tighter range.
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There is a glut of both conduit and single asset/single borrower CMBS deals expected to hit the market next month.
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Citigroup hired Raul Orozco as a v.p. structuring commercial mortgage-backed securities.
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Santander U.K. has preplaced a new euro-denominated issue of prime U.K. residential mortgage-backed securities, Holmes 2012-4, and said Monday it will continue to eye funding in the public securitization market.
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The special servicer for the Gemini (Eclipse 2006-3) CMBS, backed by Propinvest’s portfolio of UK assets, is due to speak to noteholders on Thursday to discuss its strategy, after accelerating the loan earlier this month.
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Sabal Financial, a Newport Beach Calif.-based commercial real estate investment and advisory firm, is building out a special servicing platform targeting distressed legacy mortgages, according to sister publication Real Estate Finance Intelligence.
