Morgan Stanley has securitised a portion of the circa £345 million whole loan which it provided to Blackstone last May to refinance the Devonshire Square estate in the City of London.
CMBS
A flicker of life in the capital markets
The launch of a UK student housing-backed bond shows that capital markets distribution remains an option, but only in certain cases.
Brookfield prices UK student housing note
Canadian real estate investor Brookfield has priced a £215 million senior secured bond in the first publicly-traded deal in the European CMBS market in 2017.
PIMCO launches global mortgage securities fund
Investment manager PIMCO has launched a global fund to invest in mortgage-backed securities in order to generate a source of returns “across full market cycles”.
Profile: Natixis – In it for the long haul
The Paris-based investment and banking firm’s US real estate debt team succeeds by unifying its balance sheet and CMBS lending and says the mortgage-backed securities market will endure new regulations. Justin Slaughter reports.
Special Feature: The local advantage
How US regional banks are winning the greatest share of US CRE originations as CMBS falters. Justin Slaughter reports.
Vintage CMBS losses pale in comparison to original estimates: Trepp
The report, which Trepp presented to the Federal Reserve Board of Governors recently, states that the agency now expects only 20 percent of these loans to experience losses, compared to the 50 percent prediction that many institutional lenders and rating agencies had voiced.
Six Canadian CMBS deals no longer in line of fire
All nine CMBS classes that Fitch Ratings placed on 'Rating Watch Negative' following wildfires that ravaged the oil town of Fort McMurray in Alberta, Canada have been taken off the agency's watch list.
JPMorgan’s SASB deal gives investors a piece of Manhattan’s Solow Building
JPMorgan Chase is marketing the $900 million JPMCC 2016-NINE Mortgage Trust transaction, secured by a single, 10-year interest-only loan backed by the 50-story 9 West 57th Street trophy office tower in Midtown, Manhattan.
Office Depot closures put nearly $1bn of CMBS at ‘high risk’: Morningstar
Office Depot has announced plans to close 300 stores over the next three years, potentially elevating the risk of $956.6 million worth of properties backing CMBS deals.
