January 6, 2005 Commercial Real Estate Direct Staff ReportLNR Property Co. (NYSE:LNR) paid $38.3 million for CMBS with a face value of $72.8 million during the quarter that ended Nov. 30.The Miami company, last year's most-active player in the market ...
The lender more than doubled its CMBS bookrunner activity in 2004, handling $12.1 billion of deals. It was following in the league table by J.P. Morgan Chase, which also substantially increased its activity in the sector.
Issuers of CMBS conduits this year set aside $9.4 billion of bonds for sale to Freddie Mac. That volume is nearly double the amount set aside for the agency last year.
The Miami company acquired the junior bonds from 12 CMBS conduit transactions totaling $17.4 billion. That's a substantial jump from 2003, when it bought bonds from eight deals totaling $10.3 billion.
December 20, 2004 Arbor Realty Trust Inc. (NYSE:ABR) is issuing a collateralized debt obligation that was priced to provide a blended cost of Libor plus 78 basis points.The $469 million CDO, Arbor Realty Mortgage Securities, 2004-1, is backed by 25 ...
December 20, 2004 Commercial Real Estate Direct Staff ReportThe CMBS Pricing Matrix published weekly by Commercial Real Estate Direct has been updated to better reflect the way CMBS transactions are now structured. The Pricing Matrix is compiled using quotes for ...
December 1, 2004Commercial Real Estate Direct Staff ReportThe volume of delinquent CMBS loans fell in October to $4.76 billion from $4.91 billion the month before, according to Realpoint.That translates to a delinquency rate of 1.15 percent, down from 1.19 percent ...
In their first collaborative research effort, Moody's Investors Service and Lehman Brothers determined that defaulted CMBS loans generally see a loss of 41 percent upon resolution. If you count only loans that saw losses, the severity rate is 48 percent.
November 18, 2004 Global Signal Inc. has priced a $293.8 million CMBS deal, allowing it to repay a credit facility and fund proposed purchases of wireless communications towers.The transaction, Global Signal Trust II, 2004-2, marks the second time this year ...
In another sign that the CMBS market is maturing, investment banks have begun developing synthetic securities. Issues still need to be resolved, but the time for synthetics has come.
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