Latest news
Latest news
Karen Anzalone joins law firm's structured finance and securitization practice
Most classes land inside guidance after Barclays reopened conduit primary at even tighter level on Friday
Protections for special servicers challenged
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JP Morgan believes US net issuance of collateralised loan obligations could hit an all time record of $95bn next year. -
EU authorities are allergic to complex financial products — except when they solve a problem for the EU.
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The hot new item in the world of commercial real estate is the opportunity zone, a geographic designation approved by the US Treasury that will encourage investment in underserved communities through tax incentives.
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Commercial real estate financiers at a conference in New York on Thursday discussed the changing nature of their business, which has seen many large banks shun “commoditised” lending for commercial mortgage-backed security (CMBS) deals while debt funds use repo and warehouse financing to gobble up a larger slice of US commercial real estate lending.
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The percentage of CMBS loans that were paid off at maturity surged in October, according to Trepp, hitting the highest level since the commercial real estate data provider began tracking the figures, in 2008.
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The Federal Housing Finance Authority (FHFA) published guidance on multifamily lending caps for Fannie Mae and Freddie Mac on Tuesday, limiting the total amount of loans that they can buy next year to $35bn each.
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The high yield bonds being issued to support Apollo’s acquisition of hospital group LifePoint Health include carve-outs that allow the private equity firm to pay itself dividends by securitizing LifePoint’s property and equipment without falling foul of additional debt and restricted payments covenants.
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AXA Investment Managers, a unit of the French insurer, has announced that it is acquiring a business line owned by Quadrant Real Estate Advisors and will assume management of $9.4bn of US commercial mortgage loans.
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Attempts to divert the assets of distressed UK CMBS Fairhold to an affiliate of hedge fund Clifden IOM looked to be over in August when the issuer and note trustee Global Loan Agency Services (GLAS) convinced a judge that Clifden’s actions amounted to an ‘unprincipled asset grab’. But Clifden’s behaviour since that ruling has prompted yet another court hearing.
