Vacancies fuel a rise in commercial loan delinquencies
Delinquency trends split in Q3, with securitized and agency loans showing more strain while banks and life companies saw small improvements amid uneven vacancy and rent conditions.
Commercial mortgages
Wells Fargo commercial servicing sale makes Trimont a leader
The banking giant's sale of the non-agency, third-party portion of its commercial servicing business will boost the buyer's position in the securitized market.
CMBS delinquencies drop but new bankruptcy shows issues persist
The delinquency rate that Kroll Bond Rating Agency tracks improved last month but JER's recent Chapter 11 filing and 2024 forecasts suggest it's still under pressure.
Mortgage investor JER files for bankruptcy, is latest property firm to crash
The real estate investment trust — which counts the private equity firm C-III Capital Partners among its top shareholders — owes more than $100 million to creditors but has less than $50 million of assets, according to a Chapter 11 petition.
Mortgage on U.S. retail centers secures $380.6 million CMBS
The certificates are backed by a single loan for 10 retail centers in nine states. AMC Theatres is the portfolio's largest tenant, representing 10.4% of the portfolio's base rent.
Brookfield Property’s debt cut to junk by S&P
The credit grader lowered Brookfield Property's score by two steps to BB from BBB-, the lowest level of investment grade, and the rating remains on negative outlook.
Commercial delinquencies increase has nuances by sector
Income-producing loans secured by real estate are under pressure at banks, the government-sponsored enterprises, insurers, and in CMBS to varying degrees.
Commercial delinquencies jump at banks
Stress tests suggest systemically important depositories could weather current risks. Meanwhile, single-family arrears remain low, but that business could be impacted.
Raft of commercial mortgage bond ratings were slashed, Bank of America says
Credit ratings were cut on the highest number of commercial mortgage-backed securities in "recent memory" last week, according to strategists at Bank of America Corp.
Outstanding commercial and multifamily debt is on the rise
Fewer of these mortgages are paying off, adding to the amount of credit on investors' books, the Mortgage Bankers Association said.
Distressed U.S. commercial property assets swell to $64 billion
The amount of distressed assets rose 10% in the first three months of the year, according to a new report from MSCI Real Assets.
Commercial mortgage delinquencies rise in 1Q
But when compared past periods of upheaval, those rates remain relatively low, the Mortgage Bankers Association report showed.
FI Master Trust raises $328.9 million secured by single-tenant leases
The five-year notes benefit from overcollateralization equal to 35%, and will use the proceeds to repay a line of credit facility.
Stack Infrastructure floats $250 million to finance data centers
Stack will finance turnkey and powered shell data centers that have relatively long contract terms, with a weighted average (WA) 6.6 years remaining.
Availability of real estate capital may be lower in 2023
Nonbanks will probably see the least change, while securitization lenders, depositories and REITs are likely to experience the most, an Urban Land Institute survey suggests.
Wells Fargo offers riskier CMBS from a longstanding shelf
The loan pool’s volatility score is high but its diversity of properties is a plus.
Hotel, retail mortgage delinquencies down in July, but concerns remain
Late payments on office loans have trended upward recently, but longer lease periods may mitigate the potential for distress in that sector, the Mortgage Bankers Association said.
Bank 2021-35 Trust taps the market for $1.3 billion in pass-throughs
The trust scales back on its office concentration, and increases multifamily and retail exposure. The latter's concentration is higher than all YTD averages since 2019.
Why a multifamily foreclosure tsunami is unlikely
Experts expect only a small uptick in distressed mortgages, either through default or inability to refinance, which will create some opportunity for debt buyers
Non-QM REIT Angel Oak Mortgage files to go public
The company provides a secondary market outlet for its retail and wholesale lending corporate sibling as well as for small balance commercial loans.
Load More
Couldn’t load more articles. Try again.