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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Investors are happy with the National Credit Union Administration’s flood of wrapped mortgage resecuritizations, saying the steady stream hasn’t been a case of oversupply.
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The Royal Bank of Scotland has bought more than 25% of the class A bonds in the Alburn Real Estate Capital (REC 6) commercial real estate securitization, putting it in position to block a tender offer made by the issuer and potentially flip the notes for a profit at a later date.
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Bondholders in the lower end of the capital stack in the troubled Alburn Real Estate Capital (REC) 6 deal would likely green-light the tender offer recently pitched to investors by the issuer, but the decision for those in the senior classes “is less clear cut,” according to commercial real estate analysts in London.
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Alburn Real Estate Capital (REC) 6, a commercial mortgage-backed securitization originated by NM Rothschild, is tendering to buy back notes from bondholders, according to a tender offer obtained by TS.
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Italy’s Banca Monte dei Paschi di Siena is gearing up to market a €1.67 billion ($2.34 billion) securitization of a single property loan backed with branches and offices occupied by the firm.
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An overhaul of European floating-rate commercial mortgage-backed securities structures is being plotted by market players.
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Not all specially serviced commercial mortgage-backed securities loans characterized as in imminent default are in fact in danger of defaulting.
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Demand for top-rated notes from a new $2 billion commercial mortgage-backed 144a securitization rolled out by JPMorgan and Deutsche Bank for hospitality chain Extended Stay Hotel is outstripping supply by five times, according to traders.
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The National Credit Union Administration’s second resecuritization of seized credit union assets, a $3.76 billion wrapped offering of commercial mortgage-backed securities, has been increased by almost $1 billion.