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 Commercial Real Estate Finance Council Europe will launch market principles for European CMBS 2.0 later this month, with the aim of boosting flagging new issuance volumes in the region’s commercial mortgage securitization market.
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After a rally on the day restructuring plans for GRAND, Europe’s largest commercial securitisation, were announced, analysts who have looked through the documents have also reacted positively to the strategy.
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Price talk for the latest conduit commercial mortgage-backed securities deal in the market is coming in 10 basis points tighter than the previous offering.
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The prolonged low interest rate environment amid a weak recovery is forcing U.S. banks operating with excess liquidity to reinvest additional cash into their securities portfolios, particularly mortgage-backed securities, according to Fitch Ratings.
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Clydesdale Bank will begin roadshowing its second post-crisis U.K. residential mortgage-backed securities trade, Lanark Master Issuer Plc Series 2012-2, Thursday, with the issuance size expected to be in the region of £750 million ($1.16 billion) equivalent.
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Morgan Stanley and Bank of America are preparing a conduit commercial mortgage-backed securities deal featuring a $180 million loan on the Legg Mason tower in Baltimore and are expected to price the $1.3 billion offering by the end of the week, according to materials shared with investors.
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Clydesdale Bank is getting ready to come to market with its second post-crisis U.K. residential mortgage-backed securities trade.
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The sale of a portfolio of 33,000 apartments by the GBW subsidiary of German lender BayernLB is likely to generate “significant bidding interest” and may help in setting a benchmark for the prospects of refinancing larger German multifamily housing commercial mortgage-backed securities, according to Fitch Ratings.
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Deutsche Annington Immobilien AG has agreed to a plan to restructure German Residential Asset Note Distributor (GRAND)—Europe’s largest single loan commercial mortgage securitization—which includes a note extension and a EUR504 million ($619.5 million) equity support package from U.K. private equity investor Terra Firma.