CMBS delinquency rate retreats in July
The delinquency rate for securitized commercial mortgages, which jumped in June, retreated just as quickly in July, falling 26 basis points to 5.49%. It's now only two basis points above its May level.
CMBS
Hunt Mortgage marketing its debut CRE-CLO
It's the second multifamily lender to debut in the CRE-CLO market this year, following Greystone, which completed its first deal in March. Like Greystone's deal, this one has a reinvestment period.
ADIA, Vornado tap CMBS for cashout refi of Manhattan skyscraper
The sponsors obtained a $500 million mortgage on the office building at the corner of Madison Avenue and 42 Street; proceeds were used to repay debt and fund a $330 million equity distribution.
Blackstone tapping CMBS to refinance hotel portfolio
Unlike some other large loans obtained by affiliates of the private equity firm, this one is not being carved up into bits; rather, the entire $1.4 billion mortgage is securitized in a single transaction.
This Citi, Deutsche CMBS takes a bite out of the Big Apple
Citigroup and Deutsche Bank are marketing $931.6 million of commercial mortgage bonds with heavy exposure to three Manhattan skyscrapers.
Paramount taps CMBS for refi of trophy Manhattan office building
A joint venture between Paramount Group and a wealthy New York family is tapping the commercial mortgage bond market to refinance a 52-story trophy office building in midtown Manhattan.
GM Building shows up in yet another CMBS
BANK 2017-BNK6 is a transaction backed by 72 fixed-rate commercial property loans covering 189 properties, including midtown Manhattan's iconic General Motors Building.
By
Glen Fest
DDR, Madison tap CMBS to finance portfolio of retail properties
The two firms jointly obtained three separate loans totaling $706.7 million from Citigroup and Morgan Stanley on 52 retail properites with a combined 7 million square feet.
CMBS delinquency rate jumps 28 basis points in June
It's the largest increase in five years; the percentage of securitized commercial mortgages behind on payments is now 5.75%, according to Trepp.
Blackstone financing multifamily portfolio in CMBS market
The Blackstone Group is tapping the commercial mortgage bond market to help finance the purchase of 11 multifamily properties from IMT Capital, according to Kroll Bond Rating Agency.
Morningstar promotes Lea Overby as head of CMBS
Lea Overby was formerly managing director, research; she replaces Charles Citro, who left the credit rating agency to pursue other opportunities.
Resource Capital Readies $376M CRE-CLO
The transaction is backed by apartment properties, hotels and office buildings in a state of transition.
GM Building shows up in another CMBS
Wells Fargo relies on a portion of the loan on the Manhattan office building, along with another high-quality loan, to offset the overall leverage in the transaction.
CMBS refi of Rosslyn office portfolio requires equity injection
The office market in Arlington, Virginia has taken a big hit from cutbacks at the Department of Defense, but Goldman Sachs is making a sizable bet on a comeback.
Boston Properties taps CMBS for $653M cashout refi of GM Building
The REIT obtained a $2.3 billion loan on the 50-story office and retail property from four banks; a $1.3 billion portion serves as collateral for BXP Trust 2017-GM.
Freddie prices its first CRT bonds backed by tax-exempt rental loans
Freddie Mac has priced its first credit-risk transfer securities backed in part by tax-exempt loans used to finance affordable multifamily rental properties.
Next single-asset CMBS backed by Bloomberg building
The $500 million commercial mortgage that serves as collateral was underwritten by Deutsche Bank and Citigroup; it allowed the building's owner, Alexander's, to cash out $187 million of equity.
By
Glen Fest
Benefit Street Partners taps CMBS to finance redevelopment
This type of lending is in high demand, but most of it is being done on balance sheets by banks and insurers; transactions like this are still relatively rare.
Insurers still refinancing loans out of CMBS
Insurance companies surveyed by CREFC and Trepp continued to boost their allocations to commercial real estate in 2016, albeit at a slower rate than in 201.
Late pays on CMBS loans unexpectedly fall in May
Late payments on securitized commercial mortgages fell in May, bucking the trend of the past year. But all of the improvement came from office buildings.
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