Despite historically low interest rates, defeasance volume in the CMBS market plunged last year to $68 billion from $153 billion in 2019, according to Trepp LLC That no doubt was driven by the reluctance from investors to complete sales transactions...
Commercial Real Estate Direct Staff Report December marked the third straight month in which the volume of CMBS loans with special servicers has declined It fell by 35 percent to $5295 billion from $5486 billion in November, according to Trepp LLC...
KKR Real Estate Credit was the most active buyer of B-pieces from CMBS conduit transactions in 2020, retaking the title from Rialto Capital Advisors It invested in seven conduit deals totaling $62 billion, or nearly 23 percent of the year's...
Commercial Real Estate Direct Staff Report The volume of CMBS loans that are more than 30-days late with their payments declined again in December, to $4218 billion from $441 billion in November, according to Trepp LLC It marks the sixth straight...
Private-label CMBS issuance in the United States totaled $56 billion in 2020 That's down nearly 43 percent from the $967 billion of issuance in 2019 JPMorgan Securities was the year's most-active bookrunner, with a 174 percent share of the market It...
Argentic Securities, among the most active retainers of risk in CMBS conduit transactions since rules were implemented four years ago, is moving 14 of the highest-rated bond classes it acquired over the years into new Delaware Statutory Trusts The...
Commercial Real Estate Direct Staff Report A stress gauge that Kroll Bond Rating Agency uses for the CMBS sector increased again last month, despite declines in the volume of CMBS loans that are delinquent or in special servicing That gauge, the...
Commercial Real Estate Direct Staff Report Poughkeepsie Galleria, a 12 million-square-foot enclosed shopping mall in New York’s Hudson Valley, about 75 miles north of New York City, has been appraised at a value of only $686 million That...
The venture that owns the Westfield Countryside Mall in Clearwater, Fla, which is encumbered by $1483 million of CMBS debt, has indicated that it won't pump any additional capital into the property and will cooperate in a foreclosure The financing...
The 248,457-square-foot retail portion of 229 West 43rd St, the former New York Times building in Manhattan's Times Square area, has been appraised at a value of only $925 million That compares with a $470 million appraised value set four years ago...
