Latest news
Latest news
Green securitizations have been prominent in CMBS this year
Rating cut as note pays more interest than planned
Inflation caused by war threatens budding recovery in commercial real estate
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Noteholders in the €5.8 billion ($8.2 billion) German Residential Asset Note Distributor (GRAND) commercial mortgage-backed securitization have formed an ad-hoc steering committee to hash out issues raised by the impending maturity of the deal’s loan, according to an official close to the talks.
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Freddie Mac has issued its first, multi-loan single borrower mortgage securitization, a $672.342 million deal called FREMF 2011-KAIV.
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Final pricing has been issued on JPMorgan’s $1.4 billion JPMCC 2011-C4, with the $226.8 million, AAA-rated 10-year A4s hitting targeted levels at 110 basis points over swaps, the tightest level of any other A4 since the market reboot.
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Wells Fargo and the Royal Bank of Scotland priced their $1.4 billion WFRBS 2011-C3, generally in line with expectations.
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The average loss severity rate for U.S. commercial mortgage-backed securities dropped below 40% in the first three months of the year after five consecutive quarters at 50% or higher, according to Standard & Poor’s.
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A dozen European commercial mortgage-backed securities became delinquent in April, the highest monthly number since Standard & Poor’s began keeping records of the activity in 2008.
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Italian lender Banca Popolare di Puglia e Basilicata is preparing to come to market with Media Finance 4, a previously retained €423 million ($691.6 million) residential mortgage-backed securitization.
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UBS has tapped CB Richard Ellis to search for 750,000 square feet of office space in Manhattan, a move officials at the bank said could include relocating the bank’s securitization, larger fixed-income platform and equities teams out of its existing base in Stamford, Conn.
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Sorin Capital Management is restructuring a 2006-vintage collateralized debt obligation, Sorin Real Estate CDO III.