Cmbs

Brookfield faces complex path on New York Times-backed CMBS loan

The capital structure of the Brookfield deal complicates the loan’s resolution.

Blackstone’s 2021 Las Vegas hotel bet pays out with refinancing, stake sale set

The manager is refinancing debt on its ARIA Resort & Casino and Vdara Hotel & Spa via a CMBS loan and a preferred equity sale.

Savanna’s Bryant Park refi shows why loan extensions can be worth it

The manager exercised five one-year extension options on 5 Bryant Park before securing a new loan for the office from King Street and Blue Owl. But it is not alone in extending that many times.

Exclusive: King Street JV close to finalizing $500m Bryant Park refinancing for Savanna

The financing replaces a $463m maturing commercial mortgage-backed securities loan that matured in June.

CMBS loan extensions are available, but the costs are rising

Rudin Management Company’s deal to extend a $425m loan on a New York office and Triple Five Group’s $1.39bn CMBS Minnesota mall extension come via agreements to complete substantial capital improvements.

CMBS can illuminate dark spots hidden beneath the veneer of retail’s renaissance

Class A bond holders in New York’s Palisades Center have taken a 30% loss in a rare case in the CMBS SASB market.

CMBS lessons have been learned

The CMBS market made significant changes after the global financial crisis. The impact has meant a more stable market.

SL Green, PGIM complete $1.4bn refinancing for 11 Madison

The partners tapped the CMBS SASB market to refinance maturing debt.