Allison Bisbey

While the new deal, dubbed OneMain Financial Issuance Trust (OMFIT) 2017-1, is branded as OneMain, the loans were underwritten using Springleaf’s risk scores, which were adopted company-wide in October 2016.

It’s not clear whether syndicated credit agreements require 100% investor consent before adopting a new benchmark. The industry trade group suggests giving new loans the flexibility to change indexes without unanimous approval, but investor advocates are balking.

A joint venture between Nightingale and WCP acquired the property, which is well known for the Claes Oldenburg Clothespin sculpture in its front plaza, for $328 million in July.

Although challenges have accelerated for certain segments of the U.S. retail industry, the exposure to troubled retail in U.S. structured finance sectors is limited, posing small-to-modest risks for some asset classes.

A $507.6 million first mortgage on the Hotel del Coronado, a 130-year-old landmark with 1,400 linear feet of direct ocean frontage, is being securitized in BBCMS 2017-DELC. Barclays is the loan seller.

Boston Properties and the Teachers Insurance and Annuity Association are refinancing the property, which occupies an entire block in the city's media and entertainment district.

The transaction's pool is a blend of conforming loans from Chase and non-conforming loans from various originators, including EverBank, Social Finance, Quicken Loans and United Shore Financial Services.

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.

With fewer CMBS deals coming to market — partly as a result of risk-retention rules — an independent finance company like Ladder Capital can’t always wait to piggyback on Wall Street’s transactions.

So-called transitional lending has traditionally been kept on balance sheet; but it’s become attractive to bundle the loans for transactions called (take a deep breath) commercial real estate collateralized loan obligations. Can investors stomach the features these deals sported before the crisis?