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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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Ladder Capital closed its first CLO backed by bridge loans on commercial real estate properties on Tuesday, the second time this year it has stepped into the capital markets with a deal from its own shelf. -
Lone Star’s portfolio of Hyatt properties and a Hong Kong fund’s loan on the Standard Hotel in Manhattan are both expected to surface in the CMBS market soon, as JP Morgan warns the sector still has credit concerns worthy of more attention.
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The US CMBS delinquency rate fell in September, according to Trepp data, with the performance of outstanding deals beginning to improve after the market digested a wave of maturing pre-crisis deals.
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Two commercial real estate CLOs are understood to be in the pipeline following a bumper deal from Prime Finance last week, in what has been a hot year for the asset class.
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The CMBS market has softened this month as insurance companies pull back from the primary buying in anticipation of a heavy flow of hurricane related claims, leading to spreads widening as issuers bring a raft of new deals to the market.
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A hastily arranged bankruptcy financing for Toys ‘R’ Us has left investors analysts scrambling to understand the impact on the company’s corporate and real estate debt.
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With US regulators keeping a close eye on commercial real estate lending concentrations in the nation’s banks, some smaller institutions are pulling back from the sector, allowing the CMBS market to step in and snap up loans coming up for refinancing.
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US CMBS issuers are prepping five deals totalling about $4.4bn this week, as the market ploughs on despite looming uncertainty over the way sponsors deal with risk retention rules.
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Losses on liquidated CMBS loans ticked up higher during the second quarter of the year, with retail properties showing the worst loss severities among the major property types.
