CMBS

Bingham McCutchen has elected 13 lawyers to its partnership. The promotions follow a year when the law firm expanded its key practices in the global markets, including launching its Frankfurt-based financial restructuring practice. It also grew its Hong Kong office.

A new Dutch sale and leaseback transaction has joined the beginning-of-the-year European securitization new-issue pipeline.

Insurance companies will be less likely to buy CMBS AMs and yieldier dupers at a premium.

Modifications of securitized commercial real estate (CRE) loans more than doubled in 2010 from the previous year, according to a new report from Standard & Poor's.

Some yearend bank deals gave new meaning to the abbreviations M&A and CRE: More Anxiety about Crummy Real Estate loans.

Ellington Management Group hired Leo Huang as portfolio manager for commercial real estate (CRE) debt. Huang will report to Michael Vranos, Ellington’s founder and chief executive.

Sidley Austin hired Kevin Blauch as a partner in New York in the structured finance and securitization practice.

Private investment firm Starwood Capital Group, Greenwich, Conn., has purchased a nonperforming commercial real estate (CRE)loan portfolio with an outstanding principal balance of $157 million from an undisclosed Midwest regional bank.

There is a pickup in CMBS issuance at the start of this year, which falls in line with expectations of a busier new-issue CMBS market for 2011.

The U.S. CMBS delinquency rate rose again in December with the percentage of loans 30 or more days delinquent, in foreclosure or REO climbing 27 basis points to 9.20%.