Latest news
Latest news
US market remains the model as template issuance takes shape
Deal is backed by three data centers in Virginia, Illinois and Atlanta
Tightest CMBS print in nearly a year ahead of Yondr data centre ABS debut
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After snapping up around €100bn of ABS this year, investors are preparing to shut their books in the run up to year end. The last remaining CMBS deal in the pipeline — Taurus 2018-3 DEU from Bank of America Merrill Lynch — was priced on Wednesday with senior tranche demand just over the threshold and junior spreads offered at wider levels compared with initial price talk. -
The Secured Overnight Financing Rate (Sofr), the chosen alternative to dollar Libor rates, has shown more volatility, spiking to an all-time high toward the end of last week before moving back down this week.
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Salus European Loan Conduit No. 33 DAC, a £367m single asset CMBS, was priced last Friday with marks from Kroll Bond Rating Agency. It is the first European CMBS deal to be rated by the agency since it opened its European operation in 2017.
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Fitch Ratings announced on Thursday that it has downgraded four classes of a conduit CMBS deal issued in 2014, with the move driven primarily by troubles at a mall in Pennsylvania that backs one of the loans in the deal.
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Starwood Capital Group announced on Wednesday that Armin Rothauser will be joining the firm in January to lead Starwood’s newest lending group in transportation, infrastructure and energy.
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US conduit CMBS spreads are hovering around their widest levels since the middle of 2017, having been driven out by macroeconomic volatility that has leaked into fixed income in recent weeks.
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JP Morgan believes US net issuance of collateralised loan obligations could hit an all time record of $95bn next year.
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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.
