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Blackstone is targeting a quicker than usual three day execution
Triple-As were priced at 170bp over Sofr, close to guidance
US market remains the model as template issuance takes shape
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The trend of special servicers favoring workouts for loans in European commercial mortgage-backed securities instead of granting extensions is expected to continue, according to Fitch Ratings.
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Center Parcs UK, the holiday resort group, is marketing a new whole business securitisation this week, roadshowing in London and Edinburgh for a three tranche sterling deal.
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Dallas-based law firm Thompson & Knight is bringing on at least two Crowell & Moring attorneys and is in talks to bring a handful of other Crowell attorneys to its New York office, according to people familiar with the matter.
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Deutsche Bank is marketing a £210 million DECO 2012-MHLL deal, only the second commercial mortgage securitization the European market has seen since 2007.
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Bank of America Merrill Lynch and Deutsche Bank are planning a $500 million commercial mortgage-backed securities offer to refinance a portfolio of OSI Restaurant Partners.
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The recent tender offers seen in Spanish and Portuguese residential mortgage-backed securities are not expected to spark off a major rally in peripheral market securitizations, according to London-based market officials.
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Europe’s residential mortgage-backed and asset-backed securities markets are seeing sustained secondary activity, with busy trading expected to carry over from last month well into February, according to secondary traders in London.
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Special servicers are more frequently using hope notes to work out troubled commercial mortgage-backed securities loans. Amherst Securities Group has calculated that there have been 120 hope notes structured since the 2008 recession began, which has led Darrell Wheeler, managing director at the New York-based fixed-income boutique, to question whether hope notes are the best way for special servicers to work out troubled loans.
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The performance of U.S. multifamily commercial mortgage-backed securities are distorted by loans on New York properties, according to Fitch Ratings.