Allison Bisbey

Most of the collateral was acquired over the past year; that’s in contrast with the sponsor’s previous two transactions, in which a portion of the collateral was seasoned and refinanced from earlier transactions.

Moody's considers the $932.4 million TPG Real Estate Finance Trust 2018-1 to be highly leveraged, though not as highly leveraged as Blackstone's inaugural transaction.

The Trepp CMBS Delinquency Rate for U.S. commercial real estate loans in CMBS is now 4.83%, a decrease of six basis points from the December level.

Varde VMC Lender, a Minneapolis firm specializing in distressed commercial real estate, has branched out to financing offices and apartment buildings being upgraded or repurposed.

The Blackstone affiliate is cashing out over $200 million of home price appreciation in the process, resulting in a loan-to-value ratio that is unchanged from the original Colony American Homes transactions.

The Taxs Cuts and Jobs Act preserves most of existing benefits for owners, operators, and investors, and provides a few new perks as well; there are some trade-offs to be made, however.

A group of reinsurers has committed to provide up to $650 million of coverage for credit risk on some $21 billion of 30-year, fixed-rate loans that the government-sponsored agency will acquire over the next two years.

The Trepp CMBS Delinquency Rate ended the year at 4.89%, a decrease of 29 basis points from the November level. That’s the largest monthly drop since January 2016.

Some commercial buildings that are not required to obtain earthquake insurance may still be susceptible to significant structural damage that could put the borrowers at risk of default, according to Kroll Bond Rating Agency.

Speculators who bet on declines in commercial mortgage bond indexes as a way to profit from the expected demise of regional shopping malls may still be waiting for a big payout, according to Trepp.

A second bank, M&G Prudential, had joined the deal agent, ING Capital, boosting capacity to $80 million from $40 million.

The 2-million-square-foot office complex in Tempe, Ariz., was acquired by JDM Partners and Transwestern Investment Group in a sale-and-leaseback agreement.

A $300 million, interest-only first mortgage that the REIT obtained from Wells Fargo this month is being used as collateral for a transaction called WFCM 2017-SMP.

A lower Manhattan office building that serves as the headquarters of the New York Department of Financial Services is the largest loan in a $891 million CMBS from UBS.

Just over half of the collateral for the $883 million deal is eligible to be purchased by Fannie or Freddie; the bank itself contributed nearly half.

HUD's decision to stop endorsing Property Assessed Clean Energy will have little impact; the widest segment of FHA borrowers "would not qualify anyway."

Securitization of nonperforming home equity conversion loans was pioneered by Nationstar; FAC's inaugural deal may be outstanding longer.

Roughly 52% of the properties backing Tricon American Homes 2017-SFR2 were obtained through the May acquisition; 19.4% were previously securitized by Silver Bay.

The deal, BXMT 2017-FL1 weighs in at $1 billion, making it more than twice as large as most CRE-CLOs issued this year; its size isn't the only unusual feature, however.

The Trepp CMBS delinquency rate is now 5.18%, a decrease of three basis points from the October level; declines were limited to the industrial, multifamily and office subindexes.