Finance CMBS
GM to Buy Properties in Detroit, Michigan, Issues Mortgage-Backed Line to Subsidiary
May 09, 2008
An 10-Q filing has confirmed GM's buy of three properties, including its Detroit, Michigan-based corporate headquarters, for a total of $826 million.
Franklin Credit Announces Hedge Agreements
May 07, 2008
Franklin Credit Management Corp. has announced that it has entered into interest rate swap agreements in order to hedge an additional portion of its interest-rate-sensitive borrowings against future increases in short-term interest rates.
Brookfield Real Estate Services Fund Announces Interest Rate Swap Agreement
May 05, 2008
Brookfield Real Estate Services Fund has announced that it has completed an interest rate swap agreement with the Canadian Imperial Bank of Commerce, which fixes the interest rate on its recently completed $15 million term facility at 4.29 percent with effect from April 7, 2008.
Freddie Mac Will Not Issue a Reference REMIC(R) Security in May
May 01, 2008
Mclean, Va.-based Freddie Mac has announced it will not issue a Reference REMIC security during the week of May 12, 2008.
Arbor Appoints Reisert to Senior Vice President, Capital Markets
April 29, 2008
Commercial Mortgage L.L.C. has tapped Peter Reisert to be senior vice president of its capital markets department.hn Caulfield, executive vice president, director of operations.
Fannie Mae Redeems Some Securities
April 29, 2008
Fannie Mae will redeem the principal amounts for a number of securities issues.
Fitch Sees 88 Percent Refinancing Rate for U.S. Floating-Rate CMBS
April 28, 2008
Floating-rate U.S. CMBS have or should be able to refinance 88 percent of the time, according to Fitch Ratings, which recently reviewed the maturity profile in its rated floating-rate large loan transactions.
Treasury: Hedge Funds Need to Disclose More
April 15, 2008
Hedge funds need to be more open in disclosing what they own and asset values, urge U.S. Treasury reports just released, according to a Reuters News report.
KKR Financial Sells Interest in REIT, Gets Out of Mortgage Business
April 01, 2008
KKR Financial Holdings L.L.C., an affiliate of buyout firm Kohlberg Kravis Roberts & Co. specializing in debt investments, has agreed to sell a controlling interest in its real estate investment trust, KKR Financial Corp.
Younan Younan Creates New Finance Group to Acquire Under-Performing Loans
April 01, 2008
Younan Properties Inc. is taking advantage of the instability in the debt markets by forming a new commercial debt group and opportunity fund to invest up to $200 million in underperforming loans and distressed office properties.
CBRE Investors Snags Real Estate Heavy-Hitter
March 31, 2008
Ethan Penner, known in the real estate industry as one of the foremost experts in securitization, is now a player on CB Richard Ellis Investors' team. Penner has taken on the role of executive managing director and is also holding a seat on the executive committee.
Fitch Notes CMBS Deliquency Uptick
March 28, 2008
U.S. CMBS delinquencies rose to 0.3 percent, according Fitch, Reuters News has reported.
Lancaster: On CMBS & CDOs
March 16, 2008
Editor-in-chief Suzann Silverman spoke with Brian Lancaster, managing director & head of structured products research at Wachovia Capital Markets L.L.C., about prospects for the CMBS and CDO markets. For more of this interview, see the March 16, 2008, issue of CPN.
Lee Cotton Panel Sees Investment Opportunities in CMBS
March 05, 2008
A panel of CMBS investors convened by the Commercial Mortgage Securities Association--CMSA--Tuesday in New York said investment opportunities still exist in commercial mortgage-backed securities due to positive sector fundamentals.
Foggy Future
Jan. 01, 2008
The fog is taking a little longer to lift from the CMBS market than some experts expected.
Age of Anxiety
Jan. 01, 2008
Fundamentals are sound, but the debt markets are uncertain. Where does that leave the industry's business sectors?
$9B CMBS Offering Said to Be in Works for Blackstone
Dec. 20, 2007
About two months after having wrapped up its $20 billion purchase of Hilton Hotels, the Blackstone Group L.P. is getting the ball rolling for a $9 billion commercial mortgage-backed securities offering, as per a Reuters article published today. Details of the planned offering, to be backed by Hilton Hotels, emerged in a research note by Credit Suisse. 
Carlton Strategic Ventures to Invest $1B in Distressed Mortgage Debt
Dec. 04, 2007
Carlton Strategic Ventures, the principal transaction group of The Carlton Group, recently completed its first acquisition as part of its ongoing plan to invest $1 billion in high yield commercial and residential distressed mortgage debt.
NYC Conferences Address Capital Markets Problems, Progress
Nov. 30, 2007
The distressed capital markets are at the center of the real estate industry’s concerns today. Over a five-day period, two major conferences in Manhattan are providing an insider’s view of the roiled investment picture.
Susan Merrick CMBS Bond Performance Shows Stability
Nov. 28, 2007
Bond default performance for U.S. CMBS will show some resilience and remain low in the new year, even with projected higher loan defaults, a Fitch Ratings report noted today.
As Recession Worries Rise, CMBS Squeeze May Continue Well into ’08, Experts Predict
Nov. 16, 2007
After a week that brought more bad news for the capital markets, analysts said that the CMBS market faces a slow recovery. 
Bear Stearns Takes $1.2B Writedown
Nov. 14, 2007
Bear Stearns Cos. is taking a $1.2 billion writedown of assets tied to mortgages in the fourth quarter, according Reuters and other news sources.
ProLogis Prices Convertible Senior Notes
Nov. 02, 2007
ProLogis has announced it has priced an offering of $1 billion aggregate principal amount of 1.875 percent convertible senior notes due 2037.
Global Banks Plan Liquidity Facility for Asset-Backed Commercial Paper Markets
Oct. 15, 2007
Having been nudged by the U.S. Department of the Treasury, a consortium of banks and investment managers--including Bank of America Corp., Citigroup Inc. and JPMorgan Chase Co.--have joined forces on an agreement in principle to create a liquidity facility for asset-backed commercial paper and medium-term notes issued by structured investment vehicles, or SIVs.
Has the Credit Squeeze Put the Squeeze on Net Lease Office Deals?
Sept. 10, 2007
Until sometime this summer, it looked to be a strong year for office-oriented net lease deals, a segment of the net lease market often overshadowed by more numerous retail deals. As with the rest of the market for investment properties, however, all bets are off now, though the period immediately after Labor Day may shed light on whether the market segment will see renewed velocity.
 

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