Latest news
Latest news
Investors are vying for 8% yield papers.
Deals at the double as mall-backed issuance creeps up
Sponsors also inject $35m of equity
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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. -
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.
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Morgan Stanley announced a Dutch conduit CMBS, Oranje (ELoC 32), on Thursday.
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LaSalle Investment Management announced on Thursday that it had entered into an agreement to make a majority acquisition of Latitude Management Real Estate Investors, which it valued to be worth $1.2bn.
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After years of work and numerous consultations, US regulators are still grappling with guidance for new floating rate note (FRN) contracts and the problem of how to fairly reset existing financial agreements that use Libor as a reference rate.
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The European Bank for Reconstruction and Development has made its first Greek non-performing loan (NPL) investment, part of a €300m programme to help banks in central, eastern and south-eastern Europe to clean up their balance sheets.
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Asset-backed bonds have shown resistance to broader volatility in credit markets over the past week, but analysts at Bank of America Merrill Lynch said weakness in corporate bonds could easily spill over into securitization markets.
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BX 2018-IND, a $2.4bn single loan CMBS deal from Blackstone and the largest CMBS since 2013, was priced on Wednesday. Strong investor demand helped drive all classes under average spread levels on newly originated CMBS deals this fall.
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RBC Capital Markets announced a series of hires in European real estate investment banking on Wednesday, part of the firm’s gradual expansion across industries in European IB.
