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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The commercial mortgage-backed securities market rallied strongly last week on changes to real estate mortgage investment conduit rules that give borrowers and special servicers more latitude to make loan modifications to troubled loans as well as the launch of TRX, a total return swap index that investors and dealers can use for hedging.
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The U.K. taxman’s play for £4.77 million ($7.86 million) of rental tax from White Tower 2006-03 could spark further action against other commercial mortgage-backed securities with U.K. exposure.
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UK retailer Tesco has priced its second CMBS in less than four months — a £564m deal backed by 15 supermarkets and two distribution centres.
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U.K. commercial property rents will feel the pinch of the recession for another three to four years, resulting in greater challenges for the commercial mortgage-backed securities market.
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The U.S. Treasury has rolled out two changes to real estate mortgage investment conduit rules that give borrowers and special servicers more latitude to make loan modifications on troubled commercial real estate loans.
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U.K. retail heavyweight Tesco is marketing its second securitization of the year, a £559.1 million ($918.22 million) deal backed by rental income from 17 of its commercial properties.
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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.