Collateralized loan obligations were once easily overlooked by investors who might have confused them with similar sounding alphabet soup investments that stumbled badly during the crisis. But CLOs are getting a well-deserved second look. Read on to learn more.
The majority of the collateral for the $326 million OBX 2018-1 comes from two called Bear Stearns deals originally issued in 2005; the remainder was acquired by the mortgage REIT in the whole-loan market.
Together with $26.4 million of unrated notes that the REIT will retain in order to comply with risk retention rules, the total amount outstanding from the American Tower I master trust will be nearly $1.81 billion.