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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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Liberty International, sponsor of the £550 million ($888 million) Opera Finance (Lakeside) U.K. commercial mortgage-backed-securities deal, plans to redeem the notes in full this Friday.
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Sen. Bob Corker (R-Tenn) says that Congress is backing off from threats to pass substantial legislation aimed at regulating the commercial real estate industry.
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Assured Guaranty is trying to drum up investor interest in a project finance securitization it is both originating and wrapping.
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About €54.4 billion ($76.79 billion) of loans backing Europe’s commercial mortgage-backed securities will need refinancing between 2011 and 2014, according to Bank of America Merrill Lynch research.
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The European Investment Bank, the Luxembourg-based long-term lending arm of the European Union, is rapidly expanding its structured finance capabilities, according Luis Garrido, head of staffing.
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A loan backing the €1.5 billion ($2.14 billion) commercial mortgage securitization Windermere X is to go into special servicing after it missed December payment, according to a London-based researcher.
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Winthrop Realty Trust is leading a group of senior mezzanine debt holders to foreclose on Peter Cooper/Stuyvesant Town, a sprawling apartment complex in Manhattan's East Village.
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Co-Lender Agreements typically provide that any amounts due and payable to the master servicer or special servicer under the Pooling and Servicing Agreement of a CMBS deal with respect to the A/B loan are paid from collections on the A/B loan before the noteholders are entitled to receive payment.
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Some 30% of Moody’s ABS downgrades in 2009 resulted from methodology changes, the agency revealed this week. Weak collateral performance drove 76% of the 458 RMBS downgrades last year but only 44% in ABS, thanks to a reworking of the agency’s SME loan methodology affecting 163 tranches. The next largest factor in downgrades was counterparty risk, which was the main reason for 9% of downgrades in RMBS and 16% in ABS.