Home CMBS
CMBS
Morningstar DBRS believes the outstanding loan balance is higher than the value of the assets, as rental income declines and vacancy increases.
The manager previously secured an extension to another loan for its Sponda platform in Finland.
The special servicer has accepted a bid for the underlying assets, which were hit by the crisis in UK retail.
A UK logistics deal, sponsored by Blackstone, has become the market’s first issuance of the year.
The US manager has been granted a three-year extension to execute its business plan for four retail assets.
The first CMBS-type deal in the sector in Europe is sponsored by US company Vantage Data Centres.
Noteholders in the retail-focused securitisation will vote on the proposal later this month.
The CMBS special servicer will leave the valuation in draft form until the future of the asset’s key tenant is clearer.
Our award winners provide an insight into the key lending trends when the market recovers
Mount Street placed the securitised loan, originally issued by Goldman Sachs, into special servicing when it matured on 15 January.