Latest news
Latest news
JPM sticks to full-year forecast for now but refi conditions not so attractive and new loans get more expensive
Office drives surge in CMBS conduit delinquencies as borrowers adapt
GSE brings both small and large balance trades with only one other CMBS deal marketing
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Strategic Value Partners has closed its fifth special situations fund at its hard cap of $5bn, as it tries to differentiate itself from other distressed debt funds through direct sourcing. -
Brookfield Asset Management has mandated Morgan Stanley for a German CMBS of assets in North Rhine-Westphalia, bringing a portfolio of residential multifamily properties, with limited exposure to the worst flooding in the country’s recent history.
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Sole arranger Bank of America has added £104.5m to Taurus 2021-4, a UK logistics CMBS sponsored by Blackstone, ahead of pricing on Thursday. The deal had trouble matching subscription levels seen for logistics CMBS at the beginning of the year, but demand came in strong lower down in the capital stack, reflecting a shift in investor preferences as the UK economy reopens.
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French alternative asset manager Tikehau Capital has closed its second European special opportunities fund at €617m, with a broad mandate which allows flexibility to push into several corners of capital markets.
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The three-year restructuring plan for four Intu shopping centres is set to see cash poured into London, Nottingham and Glasgow retail hubs after the group collapsed into administration in June 2020. But CMBS noteholders are set to see yields recover to only 60% of the outstanding amount by the time of a likely asset sale, bringing into doubt the prospect of future shopping-centre securtiizations.
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Real estate asset manager Blackstone has mandated Bank of America for Taurus 2021-4, a UK logistics CMBS.
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Bank of America's former Dubai-based head of Middle East and North Africa debt capital markets has relocated to New York, where he will be covering DCM for US financial institution clients.
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Viridis, the £148m Brookfield and China Life-sponsored CMBS backed by Aldgate Tower in central London, is set to be priced towards the wide end of initial price thoughts.
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After one of the busiest quarters for ABS since the financial crisis, many market participants are eyeing a short break in August in anticipation of a slower market. The combination of working-from-home culture, lack of travel opportunities and physical meetings has prevented many in the market from taking a break.
