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CMBS

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  • Prologis European Properties has redeemed Eu369m from two of its warehouse securitisations.
  • CB Richard Ellis (CBRE) has unveiled its recovery plan for Gemini (Eclipse 2006-3), a CMBS for PropInvest which has suffered a steep fall in market value and cashflow shortfalls because of an expensive-to-break hedging arrangement.
  • London-based TwentyFour Asset Management and real estate investment investment company Rutley Capital Partners have launched a fund that will invest in the commercial mortgage-backed securities market.
  • The European Parliament should not increase the 5% minimum retention requirement for originators of structured finance securities, according to the Committee of European Banking Supervisors.
  • The Italian central bank’s move to give struggling borrowers a 12-month reprieve from repayments on their loans could hurt the country’s securitizations.
  • Aram Global Asset Recovery Advisors & Managers has launched a team to work out asset-backed securities.
  • Citigroup has tapped Nicholas Letica to be a managing director in securitized markets sales.
  • Zaragoza, Spain-based Caja de Ahorros y Monte de Piedad de Zaragoza, Aragón y Rioja, also known as Ibercaja, today closed a €5.1 billion ($7.57 billion) covered bond deal.
  • London-based Cairn Capital has been appointed to restructurer for the €1.2 billion ($1.78 billion) commercial mortgage-backed securities Fleet Street Finance Two.