Unlike some recent transactions in this space, this one is backed by a mix of "transitional" properties, including office, retail, and industrial, and not just multifamily.
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The largest loan, One Kansas City Place, representing 10.3% of the collateral pool, is primarily occupied by an investment-grade tenant, Kansas City Power and Light Co.
September 15 -
U.K. authorities are years away from phasing out the London Interbank Offered Rate, but Conning's Paul Norris is urging the industry to pick up the pace on alternative benchmarks now that it's a matter of "when," not "if."
September 14 -
RREEF America, the real estate investment unit of Deutsche Asset Management, is securitizing an unusual mix of speculative-grade project finance and corporate in a debut $431.3 million collateralized debt obligation.
September 14 -
There are seven other CMBS issued this year with exposure to the skyscraper at 767 Fifth Avenue. In June, the owners took out a $1.47 billion whole loan that was used to refinance existing debt and pay a dividend; the largest portion was securitized in a single-asset transaction.
September 14 -
The Consumer Financial Protection Bureau issued its first "no-action letter" to an online lender that uses alternative data to determine creditworthiness and loan pricing.
September 14
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Like the sponsor's previous two offerings, completed in March and October, a large percentage of the collateral was sourced through a bulk acquisition from Bank of America. The total number of originators is 17.
September 14 -
The €684.8 million transaction is backed primarily by new-car leases to German prime borrowers. It's the 21st German securitization by FCE Bank, Ford's UK-based captive finance arm.
September 13 -
A bill to strengthen consumer protections for Property Assessed Clean Energy financing programs in California was approved by the Senate Monday and is headed to the governor’s desk for his signature.
September 13 -
The 19-story Class A office building boasts a LEED Gold certification and a concentrated tenant roster, led by Saatchi & Saatchi and Penguin Random House.
September 12 -
The rental car giant is more dependent than ever on asset-backed financing after being downgraded in May, making high yield bond issuance prohibitively expensive.
September 12 -
The transaction, from Together Financial Services, is backed by nearly 4,500 first- and second-lien non-conforming loans, including those for "buy-to-let" and self-employed borrowers.
September 12 -
For the first time, the marketplace lender is using its own balance sheet: It's contributing 27.66% of the collateral. The rest comes from three third-party investors.
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