Shops at Crystals Loan Shows Up in Another CMBS
The Shops at Crystals is making an appearance in a fourth commercial mortgage securitization.
CMBS
Louisiana Flooding Puts 302 CMBS Loans At Risk
The torrential downpour that brought deadly flooding in southern Louisiana last month could impact over 300 properties backing commercial mortgage bonds.
JP Morgan Securitizing $235M Loan Backed by Extended Stay Hotels
J.P. Morgan is marketing $235 million of mortgage bonds backed by a single loan collateralized by a portfolio of 63 Value Place extended-stay hotels, according to rating agency reports.
JP Morgan’s Next CMBS Backed by Iconic Manhattan Office Building
The first offering of commercial mortgage bonds to hit the market post-Labor Day comes from JP Morgan Chase, which is securitizing a $900 million portion of a $1.2 billion loan on an iconic Manhattan office building at 9 West 57th Street.
Refinancing Risks Rising for Maturing CMBS Loans
A wave of maturing commercial mortgages is set to crest next year, and. Kroll Bond Rating Agency reckons that roughly a quarter of these 1,803 loans may have difficulty refinancing, resulting in what is known as a maturity default.
Fitch Cuts Midland’s CMBS Special Servicer Rating
Fitch has taken a slightly dimmer view of Midland Loan Services ability to workout distressed commercial mortgages.
Struggling Malls Pose Outsized Risk to CMBS
In a report published Thursday, Moodys Investors Service warned that loans backed by shopping centers are an increasing cause of concern for mortgage bond investors and provided some criteria for evaluating the long-term viability of regional malls.
New Plan Would Let FHLBs Accept Expanded Collateral
The Federal Housing Finance Agency is seeking to make it easier for Federal Home Loan Banks to accept certain kinds of collateral for advances.
CMBS Investors Concerned About Aggressive Servicing
As the volume of maturing commercial mortgages spikes, so is the number of loans transferred to special servicing when they fail to pay off.
Why Risk Retention Rules May Give Big Banks the Edge in CMBS
The first commercial mortgage-backed security to comply with "skin in the game" requirements was extremely well received. Market participants credit the way the large banks sponsoring the deal retained the risk a strategy unavailable to nonbank lenders.
The Other Reason “Green” is Good for Office (& Apartment) Buildings
Buildings with energy efficient features aren’t just good for the environment, they can also be cheaper to finance.
Macy’s Store Closings to Hit $3.64B of CMBS
Macys decision to shutter another 100 of its department stores could impact some $3.64 billion of securitized commercial mortgages, according to Morningstar Credit Ratings.
CREFC Names Lisa Pendergast as Executive Director
The Commercial Real Estate Finance Council tapped Lisa Pendergast, a respected industry veteran, as its executive director.
Morgan Stanley, Citigroup Issue Latest CMBS Deals
Morgan Stanley and Citigroup were among a trio of commercial mortgage securitizations with presale reports issued Monday. Morgan Stanley is securitizing a pool of commercial mortgages in a $719.8 million asset-backed structure. Citigroups Commercial Mortgage Trust 2016-C2 is a $609.17 million syndicate conduit transaction that includes consortium of large loan properties.
Moody’s: Green’ Properties Improve CMBS Performance
In a report issued Monday, Moodys stated that green building features are becoming an important factor in maintaining property valuations and tenant occupancy levels, and can likely result in higher debt repayment performance of the commercial mortgage through maturity.
10 Hudson Yards Pari Passu Debt Issued in New CMBS
A new premier Manhattan office development project 10 Hudson Yards has parceled out part of its debut $708 million commercial loan into a commercial mortgage-backed facility of loans through Deutsche Bank and Citigroup. CD 2016-CD1 is a pool of 32 fixed-rate loans secured by 58 commercial properties.
Credit Suisse Preps CMBS Backed by Suburban Office Portfolio
Credit Suisse is marketing $180.8 million of bonds backed by a portfolio of 58 suburban office and industrial properties totaling 3.9 million square feet, according to Standard & Poors.
This CMBS Gets You In on the Ground Floor at 10 Hudson Yards
Deutsche Bank and Goldman Sachs are marketing $600 million of bonds backed by a single, newly constructed Manhattan office building, 10 Hudson Yards.
L Brands Taps CMBS for Cash Out Refi of Regional Mall
L Brands, a global retailer, and certain principals of The Georgetown Co., a property developer, are tapping the securitization market to do a cash-out refinancing of a super-regional retail complex in Columbus Ohio
Maturity Defaults Push CMBS Delinquencies Up in July
Late payments on securitized commercial mortgages ticked higher again in July, for the same reason they did in June: a number of large loans fail to pay off at maturity.
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