Donna M. Mitchell is a financial journalist based in the New York metro area with expertise covering structured finance, commercial real estate, and wealth management. Her work has appeared in Forbes, Next Avenue, Financial Planning and National Real Estate Investor.
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Dean Wheeler will drive the firm's growth push in the U.S. and follows the London firm promoting Serenity Morley to COO, to drive growth globally.
April 2 -
The mortgages have an average balance of $70,312, and an average coupon, on a weighted average (WA) basis, of 10.06%. Also on a WA basis, the borrowers have an original credit score of 739.
February 27 -
The coupons on the class A notes steps up after four years by 100 basis points, but the coupons are subject to a net weighted average coupon (WAC) cap.
January 12 -
The sponsor sourced the mortgage collateral from a range of originators, but none of them accounts for more than 10% of the pool balance.
January 10 -
Retail properties account for 44.1% of the pool, the collateral pool's largest portion. Multifamily, lodging office and other properties account for 12.5%, 11.5%, 8.9% and 23.0%, respectively.
December 19 -
Home equity investment (HEI) agreements homeowners receive upfront cash payments in exchange for giving an investor a stake in the property and the right to collect returns.
October 25 -
Compared with other tax lien transactions, PVOne 2023-1 has a much smaller initial redemption value, and has one of the lowest numbers of liens, at 9,681. Its weighted average loan-to-value (LTV) ratio is 8.8%.
July 25 -
A vast majority of the pool, 86.35%, consists of primary homes. Investment properties and secondary homes, meanwhile, account for 11.29% and 2.36% of the collateral.
July 3 -
The properties have a purchase price of $684.8 million, and an issuer cost basis of $744.4 million, a debt yield of 7.0%, and a debt service coverage ratio of 1.44x.
June 29 -
Notes will be repaid through a modified sequential structure, which calls for the A-1 and M-1 through M-3 classes to receive principal on a pro-rata basis.
June 22