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April 23, 2001 Commercial Real Estate Direct Staff ReportIt's starting to look like a $455 million offering of commercial real estate loans from Finova Group will finally hit the market next month.The Phoenix-based firm had been looking to sell the ...
The Strategic issuers, along with bookrunner Goldman Sachs and co-manager Banc of America, are hoping the hotel deal will be better received than last week's retail offering from the Mills Corp. on a loan originated by Morgan Stanley.
April 18, 2001 By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterPresale reports have been issued by Moody's Investors Service and Fitch for the forthcoming $1.14 billion G.E. Capital Commercial Mortgage Corp., 2001-1, CMBS conduit. According to a preliminary ...
Some corners of the market feel that because a solution to the FASB problem may have been found - by CSFB and its accountants - perhaps the efforts to get FASB to clarify or change its rules should cease. CSFB's ...
A few conduits are on the horizon, and anti-FASB sentiment could be wilting as issuers adopt CSFB's approach to new rules. "Their end-around appears to be sticking," was how one market watcher put it.
A batch of more than 300 non-performing loans in Japan, a mix of performing and NPLs in Italy and possibly a huge British shopping center are in various stages of marketing.
CSFB is said to have worked out any potential problems arising from the FASB rules with its B-piece buyer prior to rules that took effect Monday. It will be the first conduit brought to market under the guidelines.
The maturity of the euro, increased demand for new structured debt products and a steady economy have CMBS players in the U.K. and a few other European nations eager to increase issuance.
The deal employs an A-B structure, where subordinate slices of mortgages in the collateral pool aren't securitized. The largest loan in the transaction is backed by a portfolio of industrial properties on Long Island, N.Y.
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