Bank of America Merril Lynch and UBS plan to originate a $876.3 million BACM 2016-UBS10 transaction, backed by 52 loans on 84 properties.
1 min read · 18 May 2016
Bank of America Merrill Lynch (BAML) has sold its second European CMBS of the year, with the AAA tranche priced towards the high end of indicative pricing.
2 min read · 13 May 2016
The soon-to-crest “refi wave” in US CMBS will have loan maturities in excess of $12 billion per month, according to a new report from Moody’s Investor’s Service. And without a significant disruption to the market in the coming months, most of these maturing loans are well positioned to pay off.
2 min read · 10 May 2016
The AAA notes indicatively priced at 120-130 basis points over three-month Euribor.
2 min read · 09 May 2016
Sweeping wildfires have led Fitch Ratings to place six CMBS transactions backed by properties in Alberta, Canada on watch. The wildfires, ignited by an unusually dry winter, have been ravaging the oil town of Fort McMurray in Alberta, Canada the past several days.
2 min read · 06 May 2016
Despite some blunt assessments on the outlook for CMBS, room for optimism remains as spreads chart impressive reversal. As I walked the floor at CREFC’s High Yield & Distressed Realty Assets Summit in Manhattan back in March, I recall distinctly how one industry acquaintance bluntly summarized the mood of the event: “This is depressing, isn’t it?” […]
3 min read · 05 May 2016
Retail properties represent the highest property type concentration in this transaction, 31 loans or 38 percent of the pool, and a high concentrations of a single property type could lead to increased volatility, according to Fitch.
2 min read · 03 May 2016
The CMBS industry is watching intently as spreads finally tighten, but rating agencies aren’t yet convinced that any sustained improvement lies ahead.
2 min read · 01 April 2016
A new CMBS conduit transaction demonstrates how “Credit Bar-Belling,” or using a lower leverage investment grade (IG) loan to compensate for increases in riskier loans, continues unabated among CMBS loan pools.
3 min read · 24 March 2016
Bank of America Merrill Lynch has sold the first CMBS of 2016, with the AAAs pricing tighter than the bank’s initial guidance. The bank sold the €141.6 million AAA tranche at a 130 basis points margin over three-month Euribor, which was tighter than its indicative pricing of 140-150 bps released on 7 March.
2 min read · 16 March 2016
