Subject: Commercial MBS (CMBS)

Interest shortfalls have hit the super-senior AAA class of Morgan Stanley Capital I Inc., 2007-HQ13. According to Trepp LLC, which first highlighted the latest shortfalls, the transaction becomes the first CMBS conduit to see shortfalls hit that high up in ...

Commercial Real Estate Direct Staff Report Fannie Mae priced another $904.3 million commercial mortgage bond transaction under its Guaranteed Multifamily Structures, or GeMS, program, bringing its issuance under the program this year to $3.2 billion. The program is running at ...

Commercial Real Estate Direct Staff Report Freddie Mac has launched a $1.5 billion securitization of a loan portfolio against 69 apartment properties with some 23,000 units that are owned by Southern Management Corp. The loan portfolio was written by Berkadia ...

Pennsylvania REIT has paid off two CMBS loans with a total balance of $111.2 million against two of its properties. The Philadelphia REIT has lined up a $67 million mortgage with a 10-year loan that pays a coupon of 3.97 ...

NorthStar Real Estate Income Trust Inc., a non-traded REIT sponsored by NorthStar Realty Finance Corp., said it paid $23.3 million, or 31.5 percent of face value, for the subordinate bonds of a recent CMBS transaction. The bonds, rated BB and ...

CMBS spreads continued to widen this week as investors were barraged with new issues. The latest conduit priced at the widest levels of the year while a large single-asset transaction saw final pricing widen some 20 basis points from initial ...

Hedge funds Ellington Management Group, Sabal Capital Management and MatlinPatterson Global Advisors are each said to be looking into investing in CMBS B-pieces, according to a report on Bloomberg. The report, which cited people familiar with the firms' plans, said ...

Some $5.5 billion of CMBS deals are in various stages of being marketed, adding to the $16 billion of deals that have priced so far this year. At the current pace, volume this year could top $100 million. That would ...

Commercial Real Estate Direct Staff Report Fannie Mae earlier this month priced a $1.12 billion commercial mortgage bond transaction under its Guaranteed Multifamily Structures, or GeMS, program. The deal, FNA, 2013-M3, is the second so far this year by the ...

Fitch Ratings has upgraded the large-loan special servicer rating of Talmage LLC by one notch to CLLSS3+ from CLLSS3 because of its experience and tenured asset managers. Talmage, a New York investment manager led by Edward L. Shugrue, was known ...