CMBS

New capital requirements under the Basel III framework would have cost banks roughly $770 billion had they been fully implemented at the end of last year, according to a 32-page study released Thursday by the Basel Committee on Banking Supervision.

Banca Monte dei Paschi di Siena should be pricing its sale-and-leaseback CMBS deal next week, according to a Reuters report.

Despite coming to market at what has traditionally been a quieter time of the year, the recent spate of government-backed securitizations to hit the market have found a healthy buyside appetite.

Dechert hired Laura Swihart as a partner in the finance and real estate practice and will be based in the firm’s New York office. Swihart was most recently a partner at Winton & Strawn.

The Federal Deposit Insurance Corp. (FDIC) is in the market again with resecuritizations of residential and commercial real estate debt.

GAGFAH S.A., sponsor of several German multifamily loans securitized in European CMBS, intends to buy back as much as €125 million ($167.5 million) in shares.

The second-largest CMBS loan called Beacon Capital Partners Seattle & D.C. portfolio, was modified, according to a Standard & Poor's report.

State Street will be selling investments worth roughly $11 billion while taking a $350 million loss on the securities.

There have been some relative improvements seen in cCMBS delinquencies recently but also some continuing concerns, suggesting that market—while improving in some respects — still could have some hurdles to clear before it bottoms out.

SL Green Realty Corp. and Gramercy Capital Corp. agreed that SL Green will purchase investments from Gramercy for a $390.8 million aggregate price, including the assumption of $265.6 million in debt.