CMBS

The percentage decline is attributed mostly to an $8 billion October surge of new commercial-mortgage securitization activity, rather than improving performance of legacy assets.

According to presale reports, Ohana Real Estate Investors is sponsoring a $370 million bond sale backed by an interest-only, floating-rate loan financing its purchase of the Monarch Beach Resort in Dana Point, Calif.

The latest deal, WFCM 2019-C54, involves 44 loans secured by 88 properties, with a heavy exposure to office (32%), multifamily (21.1%) and retail (17.9%) properties.

Developer Stephen Ross' firm is among a trio of sponsors securitizing part of a $1.245 billion loan for another office tower development in New York's Hudson Yards submarket.

Blackstone Real Estate Partners is securitizing a new $343 million commercial mortgage that financed the parent firm’s recent acquisition of a portfolio of Southern California apartments.

The sponsors of the Class A structure, deemed a “trophy asset” by Kroll Bond Rating Agency, are placing $825 million of a $1.2 billion whole loan into a transaction dubbed CPTS 2019-CPT.

The loans have principal balances ranging from $2.2 million to $66 million, with the largest loan belong to the GNL Office and industrial portfolio of 12 single-tenant industrial and office properties in 10 state

In a hefty commercial mortgage-backed securities transaction, BANK 2019-BNK22 is preparing to launch a $2.3 billion deal secured by 58 CRE loans on a wide mix of properties, including co-ops, offices and multifamily.

The outlook for hotels and suburban offices is still questionable, but the prognosis for other property types in the securitized commercial real estate market remains fairly strong, according to Moody's Investors Service.

GameStop's plan to shutter up to 200 stores could adversely affect commercial mortgage-backed securities loans with a combined allocated property balance of almost $42 million, according to Morningstar Credit Ratings.