Subject: Commercial MBS (CMBS)
Possible Bankruptcy Filing of Kmart Won’t Have Big Effect on CMBS
Even though $4.6 billion of CMBS has some exposure to the ailing retailer, it's possible bankruptcy filing is not expected to have a major impact, thanks to CMBS' built-in diversification. Kmart also would not likely shut many stores.
Lodgian, Wyndham Hotels Back $1.2Bln of CMBS Mortgages
The two troubled companies own hotels whose mortgages are included in $1.2 billion of CMBS transactions. Lodgian has filed for bankruptcy, while Wyndham appears close to doing the same.
Flurry of Conduits Ends Year for Domestic CMBS; Lehman Squeezes in Hotel Deal
Four deals totaling about $3.8 billion priced between last Friday and Wednesday, drawing the year effectively to a close for domestic issuance. That's unless there's a "stealth" deal yet to be hatched, like the Swan and Dolphin Trust hotel securitization.
Correction: Hotel Loan Default Prompts Moody’s to Review Salomon CMBS Deal
December 17, 2001The GF Management Hotel loan in Salomon Brothers Mortgage Securities VII Inc., 2001-CDC, is the tenth largest loan in the deal's collateral pool. A story published earlier today, "Hotel Loan Default Prompts Moody's to Review Salomon CMBS Deal," ...
Moody’s Downgrades 7 World Trade Center Securitization
Citing a potentially weaker downtown Manhattan office market, Moody's downgraded the CMBS transaction that was used to finance a mortgage on the 2 million-sf building, which was destroyed on Sept. 11.
Morgan Stanley Says Enron Impact on CMBS ‘Minimal’
December 7, 2001 Commercial Real Estate Direct Staff ReportMorgan Stanley Dean Witter has determined that Enron Corp.'s bankruptcy will have a "minimal" impact on the CMBS market. The investment bank becomes the latest to draw a similar conclusion on what ...
Latest Ames Closures to Affect 3 CMBS Deals
December 7, 2001 Commercial Real Estate Direct Staff ReportThe move by Ames Department Stores Inc. to close another 54 stores as part of its Chapter 11 Bankruptcy reorganization will affect three mortgages in three CMBS deals.According to an alert that ...
Bankruptcy of House2Home Affects 23 CMBS Deals
December 6, 2001 Commercial Real Estate Direct Staff ReportA total of 23 CMBS transactions will be affected by the recent bankruptcy filing of House2Home, a retailer that was formerly known as Homebase, a home-improvement chain.The filing will result in the ...
Moody’s Affirms TrizecHahn Securitization
December 6, 2001 NEW YORK – Moody's Investors Service has affirmed the ratings of TrizecHahn Office Properties Trust, 2001-TZH – which has a substantial exposure to Houston properties occupied by Enron Corp. – in part because it previously factored in ...
GMAC Conduit Pulled From Market; Status Unknown
The big CMBS conduit, one of a handful currently in the market, apparently hit a snag just before final pricing was due today. There's no word on whether the deal will be postponed by a day or months.
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