CMBS

The loan pool’s volatility score is high but its diversity of properties is a plus.

Benchmark will issue 21 classes of certificates, with 13 entitled to principal and interest payments. Six classes will receive interest only.

The firm, dubbed Polpo Capital, is looking to produce a 15% net return to investors with modest leverage by capitalizing on the coming distress in commercial mortgage debt as forbearance agreements expire

The problem loans mature right around when tenants in the offices are due to renew — or end — their leases. That may unsettle investors in commercial mortgage-backed securities, analysts at Moody’s Analytics warned this week.

Low pool concentrations of loans on properties located in Ida's path, plus robust property insurance are expected to rein in impacts and insulate noteholders.

The proceeds from the trust’s certificates will refinance some CMBS debt, among other balance sheet uses.

Experts expect only a small uptick in distressed mortgages, either through default or inability to refinance, which will create some opportunity for debt buyers

A $28.8 billion rise in multifamily debt made up 65% of the $44.6 billion quarter-to-quarter gain, the Mortgage Bankers Association reported.

While there was a small uptick in missed payments for multifamily loans, the rate remained in the same area it's been at for the last year, according to the Mortgage Bankers Association.

The 30-acre luxury retail development is among four investment-grade-worthy loans included in the multiborrower deal.

Short-term late payment rates rose again and later stage delinquencies remain at elevated levels compared to those prior to the pandemic, the Mortgage Bankers Association said.

A new commercial-mortgage loan for seven facilities operated by the self-storage REIT is the largest of 41 loans in the conduit deal.

However, conditions for commercial mortgages overall worsened slightly due to persistent concerns in the hotel and office sectors, a Moody’s Investors Service report found.

Thanks to a series of government measures, the pandemic did not cause the massive wave of distressed debt flooding the market that many expected, but certain property types remain vulnerable.

The conduit transaction will carry a $120 million portion of a $750 million debt financing package for Facebook's newly built Oculus R&D center near San Francisco.

Horizon Land Co. is securitizing a $488 million single-asset, single-borrower loan that will fund its purchase of 93 rent-site communities in the Midwest and Southwest regions.

The lasting effects of work-from-home practices driven by the COVID-19 pandemic could slash some office property values to less than half of their original value – and lead to rating downgrades on affected CMBS transactions, according to Fitch Ratings.

As the U.S. economy swings from pandemic lows to a vaccine- and stimulus-induced rebound, the window of opportunity for discounted deals is closing before it ever really opened.

The delinquency rate on regional mall commercial mortgage-backed securities was 22.9% in February, the highest of any real estate category, according to Moody’s

The Blackstone-affiliated company recently took out a cash-out refi mortgage for a 17-property portfolio, an opportunity aided by high demand for its R&D facilities for COVID-19 research.