Latest news
Latest news
Inflation caused by war threatens budding recovery in commercial real estate
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
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Colony American Finance has priced its first multiborrower single family rental securitization, widening all but the senior tranche from initial guidance. -
Issuers of three deals this week have tapped Moody’s to rate a part of the CMBS capital stack that the agency has been absent from for months.
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CMBS observers were greeted on Tuesday morning with the news that one of the longest running commercial real estate sagas was finally coming to an end, as Blackstone Group stepped in with the winning bid for the troubled Stuyvesant Town Peter Cooper village complex in Manhattan.
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Benchmark CMBS continued to hover at their widest levels since 2013 this week. The latest conduit deal was priced on Wednesday at 125bp over swaps for the super senior class.
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ABS investors have little to worry about from the impact of long-term oil prices flattening out at just above $40 a barrel, said JP Morgan this week.
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A legal decision was reached last week in a dispute between bondholders in the Gemini UK CMBS deal, with senior noteholders set to benefit from the outcome. But the legal headache is set to continue.
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Hedge fund TIG Advisors is looking to raise $75m from investors in a joint venture with Amherst Securities to acquire a portfolio of single family rental properties.
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Issuers this week are in the market with approximately $4bn in conduit, single borrower and CRE CLO CMBS offerings, as investors eye the month ahead with some caution after a difficult September.
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CW Capital Asset Management is in the market with a $2.1bn portfolio of distressed assets, that, once offloaded, will significantly shrink the balance of its specially serviced loan book.
