Real Estate Liquidity Trust to raise $507.5 million in CMBS
The pass-through certificates are supported by a full pool of amortizing loans, which have no interest-only periods.
CMBS
Seagram CMBS deal highlights trophy property trend
Top banks launch $1.2 billion deal for iconic Seagram Building
By
John Hintze
Sabey Center to raise $410 million in ABS from data center leases
Tenants also have a high average credit quality, with 75.9% of them having at least an investment grade rating, and lease assets underlying the class A notes have a loan-to-value (LTV) ratio limited to 70%.
Why U.S. multifamily CMBS growth expectations favor the Sunbelt
The multifamily property securities market is expected to stay resilient, despite weaknesses in certain markets due to cooling rent growth, higher vacancy, or oversupply.
By
Amilda Dymi
Record CMBS issuance continues but challenges lurk
Deal production has been a bright spot, but delinquencies could soon reach record highs, especially for office CMBS.
By
John Hintze
The Spiral office tower in Hudson Yards refinances for $2.5 billion
Despite shifts in work habits after COVID-19, the office building was 93.8% leased at the start of the month.
Moody’s: Steadily improving economy bolsters U.S. ABS
ABS overall should outperform, but risks remain in specific areas
By
John Hintze
DBRS Morningstar downgrades JP Morgan CMBS deal
Delay refinancing two loans prompts drop to below investment-grade for one class of CMBS
By
John Hintze
Taubman Shops $1 billion deal backed by Dolphin Mall Miami
Top retail-mall owner Taubman has approached the market with a $1 billion CMBS deal to refinance the existing debt that is collateralized by one of the highest volume shopping centers in the U.S.
By
John Hintze
NYC’s Rockefeller Center seeks $3.4 billion in commercial mortgage bond deal
Affiliates of real estate company Tishman Speyer and investment firm Henry Crown & Co. are selling $3.4 billion of commercial mortgage-backed securities in a deal that's expected to price Thursday.
Western Asset is selling mortgage bonds as investors pull money
Investors began pulling funds rapidly after it disclosed last month the departure of Chief Investment Officer Ken Leech amid Justice Department and Securities and Exchange Commission probes into its trading practices.
FREMF 2024-K756 to issue $906 million in certificates
The pool, collectively, has a cap rate of 8.57%, with an in-trust loan-to-value (LTV) at the cutoff date of 102.3%, and an appraisal LTV of 61.5%.
BFLD 2024-VICT sells $265 million in CMBS
One of the transaction's many positive attributes is its low loan-to-value ratio, 71.5%, and with 4.7 million residents, the Riverside-San Bernardino-Ontario, Calif., metro area ranks as the 12th most populous metro area in the U.S.
Harvest Commercial Capital Loan Trust raises $218.5 million
The pool includes loans originated under section 504 of the Small Business Investment Act of 1958, which supported funding for loans made to small business concerns, predominantly with original 30-year terms.
Brandywine: CMBS and other floaters shine
As the inflation reduction campaign has miles to go, banks considering credit risk transfers referencing commercial real estate could find enthusiastic investors.
By
John Hintze
Builder Vanke securitizes some private debt to delay payments
The existing notes, known as non-standard debt and held by insurers, were swapped this month into newly issued commercial mortgage-backed securities in equal proportions.
Renovated PGA National Resort supports $315 million in commercial mortgage notes
Fitch gave the resort a B+ property quality grade, and it increased its loan-to-value hurdles by 8.75% to reflect the collateral quality.
BANK5 2024-5YR6 moves ahead with $984.3 million in CRE beneficial ownership certificates
With a high proportion of fixed-rate, interest-only underlying loans, the notes have almost no amortization, and three CRE loans have standalone, investment-grade opinions.
Velocity Capital Commercial Loan prepares to float $295.1 million
The fixed-rate loans are divided into three sub-pools that relied on rating methods from the RMBS, CMBS and ABS sectors to assess their risks.
Founder of 400CM finds attractive CMBS niches despite grim CRE outlook
Chris Hentemann, whose fund manages $6.2 billion in assets, seeks out B-piece opportunities and foresees banks executing more bulk loan sales and credit-risk transfers.
By
John Hintze
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