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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In a declining economy, commercial real estate investors want long-term leases, low tenant rollover, low expense ratios and the ability to pass along increasing operating expense to tenants. -
Barclays Capital is betting that the commercial mortgage-backed securities market will outperform other sectors and has upgraded CMBS to overweight.
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German bank BayernLB is understood to be shutting down its securitization team in London and possibly the businesses in New York and Munich as well, according to market players.
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U.K. private equity firm, Terra Firma is looking to buyback notes from its €5.9 billion ($7.6 billion) German multi family commercial mortgage securitization as depressed bond prices have presented discounted buying opportunities to the market.
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More structural problems are expected to appear in the European commercial mortgage-backed securities market as unprecedented stresses continue to grip the sector.
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Bank of Scotland has tapped its Credent Limited commercial mortgage-backed securities conduit with a second issuance of three classes of notes.
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European CMBS was hit by another round of downgrades this week. All but the senior tranche of REC Plantation Place were downgraded by Fitch and the senior tranche’s outlook was revised to negative.
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The Commercial Mortgage Securities Association is working on a three-step proposal that it believes will help to restart the commercial real estate lending market.
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Dozens of bondholder meetings have been called in recent weeks to address covenant breaches, swap counterparty replacement mandates and other issues. But the divergent interests of senior bondholders, junior bondholders and B-note lenders are paralysing negotiations and even compromising servicers, say investors and analysts.
