Banks are Keeping Their Own Skin in This CMBS
Wells Fargo, Bank of America and Morgan Stanley are keeping skin in the first risk retention compliant CMBS.
CMBS
BofA Takes D.C.’s International Square Loan to CMBS Market
Bank of America is securitizing a portion of a new $450 million commercial mortgage for the International Square office complex in Washington, D.C., featuring The Federal Reserve and The World Bank as prime tenants.
Same Market Street Shopping Mall, Different CMBS
Deutsche Bank and JPMorgan Chase have found a home for the another portion of a $558 million mortgage on a San Francisco shopping mall that serves as collateral for a single-asset CMBS launched this week.
Deutsche Bank, JPMorgan Shopping a $300M Mall CMBS
Deutsche Bank and JPMorgan Chase are readying $300 million of commercial mortgage bonds backed by a single asset a San Francisco shopping mall.
B2R Returns to Securitization Market Following Management Shakeup
B2R Finance, the lender backed by the Blackstone Group, is returning to the securitization market after undergoing a shift in strategy and turnover in senior management.
Wells Plans Latest CMBS Around Smaller Market Collateral
Wells Fargo is marketing its second commercial mortgage securitization in two months, this time with a focus on smaller-market retail, hotel and office properties.
Citigroup’s Next CMBS Has Heavy Exposure to Split Loans
Citigroup's next commercial mortgage securitization has heavy exposure to split loans that serve as collateral for a number of other transactions.
Late Payments on CMBS Loans Up Again in June to 4.60%
Late payments on securitized commercial mortgages moved noticeably higher in June, as several large loans failed to pay off at maturity.
Tax Inversion Rules Threaten Asset-Backeds, SFIG Warns
New rules designed to stop U.S. companies from moving their tax addresses offshore are so written so broadly that they could disrupt the securitization market, a trade group warned Thursday.
Blackstone Taps CMBS for Cash Out Refi of Waldorf Astoria Boca Raton
The Blackstone Group recently got $556.4 million in loans on the 1,047-room Waldorf Astoria Boca Raton Resort & Club, paying off debt it had taken out just three years earlier, cashing out $136.5 of equity in the process.
JPMorgan CMBS Pool Includes Newly Sold Fifth Avenue Locale
The mixed-use office/retail complex at 693 Fifth Avenue, which was sold last month by Thor Equities for $525 million, is one of 47 loans backing the $939 million portfolio being issued by the JPMorgan Chase Commercial Mortgage Securities Trust.
Societe Generale Launches $736M CMBS
SG Commercial Mortgage Securities Trust 2016-C5 is the first publicly registered asset-backed commercial mortgage offering through the trust since forming its U.S. CMBS business 18 months ago, and closing its first commercial real estate loan in April 2015.
Cherrywood Packages $115M Rehab Property CMBS
Cherrywood Commercial Lending, a specialty finance company that caters to owners of smaller commercial properties, is preparing a $115 million securitization, according to DBRS.
More Evidence Insurers Are Refinancing Loans Out of CMBS Conduits
A survey of insurers conducted by the Commercial Real Estate Finance Council and Trepp indicates that participants allocated 11.08% of their invested assets to commercial mortgages at the end of 2015, an increase of 40 basis points over the end of 2014.
LSTAR Readies $500M High Quality, Highly Leveraged CMBS
LStar Capital Finance, the credit affiliate of Lone Star Funds, a global private equity firm, is marketing a $500 million of commercial mortgage securitization, according to rating agency reports.
CMBS Delinquencies Inched Up in May: Trepp
The delinquency rate on loans commercial mortgage-backed securities increased for the third consecutive month in May after significant declines at the start of the year, according to Trepp.
Canadian CMBS at Risk from Fort McMurray Wildfire
Ash and soot from wildfire ravaging Fort McMurray, in Alberta, Canada, has drifted all the way to Europe and could speed the melting of Greenland’s ice sheet. Its also challenging the already stressed market for bonds backed by Canadian commercial mortgages.
Morningstar Warns On CMBS Exposure to For-Profit Education
Government scrutiny of the for-profit education industry could intensify default risks on up to $1.88 billion of commercial mortgage bonds backed by properties occupied by Corinthian Colleges, the University of Phoenix, and DeVry,
Watt Warns FHLBs on Reliance on Short-Term Funding
Federal Housing Finance Agency Director Mel Watt sounded alarm bells Tuesday about Home Loan Banks' reliance on short-term funding in the form of discount notes.
Proposed Alternative to Libor Faces Tough Road Ahead
A committee convened by the Federal Reserve to examine potential replacements for widely used interbank offered rate benchmarks has published its interim conclusions, identifying two potential alternatives.
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