Latest news
Latest news
Blackstone priced its social housing CMBS while Yondr debuted in data centre ABS
Blackstone is targeting a quicker than usual three day execution
Triple-As were priced at 170bp over Sofr, close to guidance
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Royal Bank of Scotland’s reported plans to sell off £33 billion ($54.24 billion) of European and U.S. commercial property exposure could negatively affect the European commercial mortgage-backed securities and commercial property lending markets.
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Her Majesty’s Revenue and Customs is looking for its £4.77 million ($7.86 million) cut of the £1.15 billion ($2.47 billion) White Tower 2006-03 securitization of commercial mortgages.
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Master servicers on commercial mortgage-backed securities deals are seeing a steady increase in voluntary defaults.
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Windermere XII, issuer of €1.5 billion ($2.16 billion) of commercial mortgage-backed securities, is likely to appeal last week’s decision by the French Commercial Tribunal, which found in favor of the property owners.
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Managers of REC Retail Parks, the issuer of the Real Estate Capital No.4 commercial mortgage-backed securities, are attempting another restructuring of two of the deal’s three tranches.
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The beleaguered White Tower 2006-3 CMBS took another blow this week when the UK taxman served winding up petitions on seven of the ten borrower companies over a £4.8m tax bill.
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Bondholders in Windermere XII, the Lehman sponsored CMBS backed by the Coeur Défense office building in Paris, suffered a severe setback this week when a French bankruptcy court extended the borrower’s sauvegarde protection against enforcement for five years.
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The French Commercial Tribunal in Paris has ruled in favour of the owners of the property backing €1.5 billion ($2.16 billion) Windermere XII commercial mortgage-backed securities deal.
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Modification of loans included in commercial mortgage-backed securities deals is becoming a critical issue for the market, particularly with rising delinquencies stirring debate about the scope of the changes permitted under both Real Estate Mortgage Investment Conduits rules and the Pooling and Servicing Agreements of CMBS deals.