The storm ripped through the southeastern US states last week, beginning with heavy winds and torrential rain, then leaving behind massive flooding throughout the region in its aftermath, with a death toll of at least 45 so far.
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 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.
The hotel sector is peaking as demand stalls and certain markets experience revenue per available room (RevPAR) declines due to oversupply and their reliance on the energy sector, according to Fitch Ratings’ quarterly update.
Bank of America Merril Lynch and UBS plan to originate a $876.3 million BACM 2016-UBS10 transaction, backed by 52 loans on 84 properties.
Assurant Inc. is securitizing its first CMBS transaction. Fitch Ratings has assigned a preliminary rating to $259.7 million Assurant Commercial Mortgage Trust 2016-1 transaction, backed by 79 loans on 89 properties.
As fewer US CMBS loans are resolved due to major declines of inventory in special servicing, the proportion of loans resolved with losses has also hit a six-year low, according to a new report from Fitch Ratings.
European securitised loans that contain more aggressive provisions can pose risks for CMBS investors, says Fitch.
US CMBS 2.0 loans entering special servicing have increased year-over-year and now comprise a larger proportion of overall loans in special servicing, according to Fitch Ratings.
Fitch Ratings expects US CMBS loan defaults to increase in 2016 after five straight years of declines.