.png){kind=logo}
GC Asia
-
CREFC expands government relations team with new hire
The Commercial Real Estate Finance Council (CREFC) has hired Christina Perez to its government relations team, bolstering the organization’s education and advocacy initiatives.
11.30 AM -
Better not to know: retail CMBS deal skips valuation
Kanaal, a CMBS backed by shopping centres in the Netherlands, will skip this year’s property valuation for the largest loan, as “any valuation obtained in 2020 would not give a true representation of the market value that will be used for testing of the loan to value covenant”.
13 Oct 2020 -
Blackstone-backed social housing group preps CMBS debut
Sage Housing, the for-profit social housing landlord owned by Blackstone, is marketing its first CMBS issue through Deutsche Bank — a sharply different approach to financing from its housing association peer group, which usually issue ultra-long secured corporate bonds rather than true securitizations.
06 Oct 2020 -
.jpg)
No ‘kicking the can’ for European CMBS, says servicer
CMBS investors are not in favour of long term waivers for distressed transactions, and may expect the sponsor to inject additional equity into a deal in return for waiving defaults, said panellists speaking at S&P’s European Structured Finance Virtual Conference 2020.
03 Sep 2020 -
UK retail is injured but it has ripped off the plaster
The coronavirus has been seen in some quarters as the final nail in the coffin for the long suffering UK retail sector. But having embraced e-commerce earlier than elsewhere, the sector may learn lessons from the crisis faster and emerge stronger, which means UK CMBS holders might not be in as bad a spot as they imagine.
01 Sep 2020 -
Intu administration puts £2.5bn of CMBS at risk
UK shopping centre owner Intu Properties has fallen into administration, throwing into question the fate of £2.5bn of CMBS notes secured by its real estate.
26 Aug 2020 -
Demand for CMBS aid grows on Capitol Hill
The US commercial mortgage backed securities (CMBS) market has lacked the kind of extensive government support that other asset classes have received, though data shows it is experiencing difficulties. But some are optimistic that the US government will provide aid for the market in its next round of Covid-19 relief measures.
06 Aug 2020 -
KKR raises nearly $1bn for CMBS B-piece fund
KKR has raised a $950m fund that will invest in the lowest-rated portions of newly issued CMBS conduit transactions.
21 Jul 2020 -
Bank of America offers full capital stack logistics CMBS
Bank of America is offering a full capital stack CMBS deal backed by logistics properties, the first such transaction to come to market in Europe since the height of the pandemic in April.
21 Jul 2020 -
Corona crisis plunges UK university assets into uncertainty
UK universities face financial peril. Having been shuttered due to the coronavirus pandemic, some risk going bust, according to the Institute for Fiscal Studies (IFS). Meanwhile, as accommodation operators grant refunds to students who are locked out and locked down, CMBS deals backed by student accommodation may survive, if sufficient numbers return to residences when the next academic year begins. Silas Brown and Tom Brown report.
09 Jul 2020
