Allison Bisbey

Industrial Logistics Properties Trust obtained a $650 million, 10-year fixed-rate mortgage on the portfolio from four banks; a $390 portion is being securitized in a single-borrower deal.

The $291 million Arroyo Mortgage Trust 2019-1 is significantly smaller then the sponsor's inaugural deal, which weighed in at $1.25 billion and was completed in April 2018.

SmartStop Asset Management is tapping the securitization market to help finance the $350 merger of two real estate investment trusts that it manages, cashing out $56 million of equity in the process.

The state's tougher oversight has stripped Property Assessed Clean Energy of its go-to project financing status among contractors. That shift may result in adverse selection.

The rating agency has developed rating criteria for bonds backed by oil and gas royalties, though such deals would be capped at the 'A' rating category.

The real estate investment trust obtained $230 million of loans from four banks: Citi, Barclays, BofA and Deutsche. A $200 million first mortgage is being securitized.

The $756 million GSMS 2019-GC38 is backed by with 36 loans secured by 53 properties; nine of the loans (29.2% of the total balance) are secured in whole or in part by 12 single-tenant properties.

Howard Goldwasser and Skanthan Vivekananda will be based in New York and Los Angeles, respectively.

Golub Capital BDC has also obtained shareholder approval to boost leverage, but David Golub said this was designed to give the middle-market lender more flexibility.

Tier 7 loans, which have lower limits on free cash flow and allow negative personal income, account for 7.26% of the collateral for the online lender's next transaction, according to Kroll.

For the first time in almost two years, borrowers are taking out floating-rate loans to refinance their student debt. So Navient is testing investor appetite for floating-rate bonds backed by refinance loans.

Jonathan Levine, who represents asset managers and private funds in their investments in distressed situations, joins the firm from Morrison & Foerster.

At least 25 business development companies have obtained board approval to increase leverage in line with a new regulatory limit, but most are subject to a one-year cooling-off period, according to DBRS.

The loan used as collateral is part of $410 million of financing the sponsor obtained from Societe Generale to refinance the redevelopment of a 10-story mixed-use building on Eleventh Avenue in Manhattan.

Office buildings account for roughly 40% of the collateral, and much of it is in suburbia, where defaults and losses can be higher, according to S&P Global Ratings.

The remainder of the collateral was contributed by Goldman Sachs, which is also holding onto 5% of the risk in the deal to comply with risk retention rules.

A $1.1 billion mortgage from four banks on eight buildings in Cambridge, Mass., is being bundled into collateral for CAMB Commercial Mortgage Trust 2019-LIFE.

The only change to the deal is a slightly smaller prefunding amount; one loan that had been expected to be acquired after settlement has already been closed.

Now that the noncompete has expired, Navient plans to market private student loans to borrowers in school; the servicing giant is also free from restrictions on marketing refinance loans through Earnest.

Since the financial crisis, only one other sponsor, Invictus Capital Partners, has issued publicly rated mortgage bonds backed entirely by investor loans.