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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Citigroup is leading a €485 million securitization of 18 commercial mortgage loans—17 originated by Citibank International and Citibank, and one loan jointly originated by Citibank and Deutsche Bank.
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JPMorgan in London has hired Bill Schwab from Deutsche Bank as a managing director and head of the structuring team of its real estate structured finance business.
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Netherlands’ FGH Bank N.V. has come to market with its first securitization, a €3 billion ($4 billion) synthetic commercial mortgage-backed security arranged by Rabobank.
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RBS Greenwich Capital is bringing a $528.7 million static re-REMIC to market.
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Moody’s Investors Service says that it won’t be implementing any of its planned changes to commercial mortgage-backed securities deals until after July 1.
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Blackstone Group may have to offer more yield on its $7.4 billion commercial mortgage-backed securities in early June to boost investor confidence in its stand-alone deal, reports Reuters. Unlike the conduit structure of Wachovia Securities’ $7.9 billion sale, which involved multiple loans and borrowers, Blackstone-EOP’s transaction includes a single borrower, raising investor exposure in just one name. As a result, it is likely to require additional yield spread from investors, analysts said.
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National Westminster Bank and RBS have originated a fully synthetic €1.1 billion ($1.75 billion) pan-European commercial mortgage-backed securitization, the first European CMBS transaction to include a loan secured by real estate assets in Greece. RBS arranged the deal.
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The glut of supply took its toll on the CMBS market this week as several deals were priced at the wide end of guidance and spreads on triple-B notes in particular came under pressure from wide credit default swap levels.
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Credit Suisse has come to market with a €1.6 billion ($2.14 billion) pan-European commercial mortgage-backed securitization notable for its diversity.