CMBS

  • Update due for investor reporting package

    CRE Finance Council Europe is set to release a market exposure draft of its European Investor Reporting Package Version 2.0 on 15 October. Among the updates to the package, the new version will introduce minimum population fields and standards for calculating key financial indicators, such as ICR, as well as a methodology for analysing/reporting borrowers' property income statements. The package .......

    News Round-up 29 September 2010

  • Benchmark indices to see CMBS changes

    Barclays Capital has announced that, as of 1 January 2011, US CMBS classified as an A1A tranche will be removed from its US CMBS and US Aggregate Bond Indices. These securities are held primarily by US agencies and do not frequently trade in the secondary market and are consequently being removed because of investors' difficulty in purchasing them.

    In addition, .......

    News Round-up 29 September 2010

  • Latest US CMBS signals conduit re-emergence

    Some US$10bn of new US CMBS debt is expected to be sold to investors this year, with JPMorgan, Goldman Sachs, Wells Fargo, Bank of America and Morgan Stanley among the banks rebuilding their conduit operations. The US$1.1bn J.P. Morgan Chase Commercial Mortgage Securities Trust 2010-C2 (JPMCC 2010-C2) is the latest such deal to hit the market.

    The transaction is backed .......

    News Round-up 29 September 2010

  • Artificial constraints

    Distressed CRE prices pushing beyond fundamental value

    An artificially constrained supply of US distressed commercial real estate is driving asset prices up beyond their fundamental value. Investors are consequently being urged to analyse more carefully both sources of property and their valuations.

    Carlos Vigon, md at NewOak Capital, notes that the primary method of identifying value in the current market is to buy non-performing debt, convert it .......

    News Analysis 15 September 2010

  • Illiquid solution

    Celestino Amore, md and founder of IlliquidX, answers SCI's questions

    Q: How and when did IlliquidX become involved in the structured credit market?
    A: IlliquidX is a financial services boutique providing innovative solutions to professional investors that include institutional, corporate and high net worth clients. We enable our clients to effectively price and trade illiquid securities, such as high yield and distressed debt, bankruptcy claims, NPLs, MBS, CLOs, CDOs and CSOs. .......

    Provider Profile 10 February 2010

  • New firm to target German mortgage assets

    Elystan Capital Advisors - a Munich-based investment firm targeting mortgage-backed assets and the mortgage banking sector in Germany, Austria and Switzerland - has launched, with the backing of private equity house GI Partners.

    Following recent developments in the financial markets, the Elystan founders - Keith Fischer, Robert Grassinger and Ulrich Kastner - believe that there is significant pressure on the .......

    Job Swaps 3 February 2010

  • Prime US CRE collateral on offer

    The Carlton Group has been retained on behalf of a number of CMBS trusts on the sale of approximately US$307m of non-performing loan and REO assets located throughout the US. The portfolio consists of prime office, industrial, retail, multi-family, assisted-living facility and self-storage assets.

    While most recent commercial real estate loan sales have been characterised by land lots and other .......

    News Round-up 13 January 2010

  • Slow CRE recovery expected in 2011

    The pace of US CMBS credit deterioration accelerated in December, with delinquencies topping 6% for the first time in the sector's history. Commercial real estate fundamentals are nevertheless expected to decline more slowly in 2010 than in 2009 and begin a slow recovery in 2011.

    According to Grubb & Ellis Company's latest Real Estate Forecast, most commercial property types should reach bottom near .......

    News 13 January 2010

  • Under pressure

    Surge in troubled loans puts servicers to the test

    Mortgage servicers, both residential and commercial, are facing increasing pressure as the volume of troubled assets continues to rise sharply. There are concerns over whether primary and special servicers are adequately prepared and that - in certain cases - the infrastructure is not capable of dealing with the expected surge in delinquencies.

    According to Alan Cleary, md of soon-to-launch UK .......

    News Analysis 13 May 2009
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