CMBS

Real estate investor Tom Barrack said predicted a “domino effect” of catastrophic economic consequences if banks and government don’t take prompt action to keep commercial mortgage borrowers from defaulting.

The credit watch involves single-borrower securitizations of commercial mortgages for high-priced resorts in Florida and Hawaii.

Add continued growth in commercial and multifamily mortgage debt outstanding to the list of things that the economic fallout from the coronavirus might affect.

KKR is tapping the commercial mortgage securities market to finance a new loan secured by a portfolio of 71 industrial “last-mile” logistics properties owned by the investment firm in seven states.

The falling rates continue a three-year trend of improving performance across numerous commercial mortgage sectors including multifamily, office and retail.

Any impact from the coronavirus outbreak on commercial and multifamily loan delinquencies won't be known for some time, the Mortgage Bankers Association said.

Most of the pool is made up of office-property loans, but also includes a sizeable exposure to hotel and retail properties.

Black Knight introduced a model to gauge prepayment speeds and credit risk for investors that purchase commercial mortgage-backed securities.

Over 67% of the loan balances in Sabal Capital Partners' commercial mortgage MBS deal were for apartment buildings financed through the Irvine, Calif.-based firm.

The notes in Citigroup Commercial Mortgage Trust 2020-555 are backed by a beneficial interest in the trust’s $350 million portion of the 119-month fixed-rate commercial loan. The loan is secured by a 52-story New York luxury apartment building in Manhattan’s Midtown West submarket.