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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Standard & Poor’s new ratings methodology for U.S. commercial mortgage-backed securities deals is expected to lead to a significant number of downgrades for conduit and fusion bonds, despite some changes that it made based on market feedback.
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The bankruptcy filing for German retailer Arcandor, the largest such filing among German retailers over the past 12 months, could hit the ratings of three European commercial mortgage-backed securities backed by the company’s loans.
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New York-based 400 Capital Management has launched the 400 Capital Credit Opportunities Fund which will target high-net-worth investors.
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More than 80% of all European commercial mortgage-backed securities rated by Standard & Poor’s may see two-notch downgrades as a result of continuing problems in the real estate and real estate financial markets.
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The White Tower 2006-3 commercial mortgage-backed securities deal from Société Générale has breached its loan-to-value covenant as a result of a much lower valuation of the properties in the portfolio.
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The first European commercial mortgage-backed securities deal to be marketed to third-party investors since 2007 has been priced.
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White Tower 2006-3 has breached its loan to value covenant after an updated valuation revealed a 49.3% decline in the portfolio’s market value to £929m. Unless the breach is cured within 10 days, it will trigger a loan event of default.
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UK retailer Tesco reopened the catatonic CMBS market this week with a hugely oversubscribed £430.65m sale and leaseback. But the deal’s structure suggests that a renaissance for the asset class is some way off.
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The first European commercial mortgage-backed securities deal to be marketed to third-party investors since 2007 is making the rounds.