Latest news
Latest news
The rise of the European master trust and the CLO market nears shut down
The trade is EdgeConneX’s euro debut, the first Dutch data centre ABS, the first data centre CMBS structure and the first master trust structure
'Super wide' guidance on triple-As brings in orders twice the tranche size
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CMBS bondholders and commercial real estate lenders are exhaling with relief following news that Brookfield Asset Management closed a lease on 666 Fifth Avenue, which is currently owned by Kushner Companies. Brookfield will pay upfront for the lease, helping Kushner Companies pay off more than $1bn in CMBS debt that helped finance the building’s acquisition in 2007. -
Commercial brokerage firm Cushman & Wakefield closed an initial public offering on Thursday, becoming the latest real estate firm to go public this year as many mull how to make the best of a market that is still delivering substantial returns, but showing a few signs of wobbling.
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The Federal Housing Finance Authority (FHFA), which regulates and oversees Fannie Mae and Freddie Mac, has seen better summers.
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US real estate, especially in 'gateway' markets such as New York and San Francisco, has proved a safe harbour for global investors looking to park their money but the long-standing trend may be reversing.
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Seven private label CMBS deals worth about $3.7bn were priced last week, including two conduit deals and five single borrower transactions. Total private CMBS issuance year to date has hit $57bn, up from $43bn at this time last year, according to Bank of America Merrill Lynch data.
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The European Parliament has proposed an amendment to the new Capital Requirements Regulation protecting banks from the consequences of “massive disposals” of non-performing loans.
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Blackstone Mortgage Trust, a publicly traded REIT affiliated with the private equity firm, reported better-than-expected second quarter earnings on Wednesday on the back of rising net interest income and a number of high-profile real estate deals.
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A tussle for control of a pre-crisis defaulted CMBS issuer took an unusual twist last week, with contradictory notifications distributed to noteholders in the name of the company. It left investors and observers puzzled as to what to believe, and raised questions as to whether market abuse regulations have been flouted. Asad Ali reports.
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SC Lowy Asset Management has hired William Bishop as senior sourcer for distressed debt in London.
