CMBS

The collaborative workspace officer provider, which filed for its IPO last week, will be securitizing a $240 million loan used in the purchase of the San Francisco building where it leases space to member clients.

The $217.7 million BX 2019-MMP Mortgage Trust is a securitization of an interest-only loan issued to Blackstone Real Estate Partners backed by the cash flow from the apartments, in New York’s Upper East Side, Murray Hill and Chelsea neighborhoods.

Moody’s said the Fed’s cuts – the first in a decade by the central bank – will boost real estate and consumer ABS collateral by helping lenders uphold underwriting standards and provide affordable debt options to borrowers.

Bank of America is tapping the commercial mortgage-backed securities market to refinance the debt on its namesake Manhattan office building, providing BofA and building co-owner The Durst Company with a hefty cash-equity payout.

The sponsors are benefiting from a nearly $1 billion, cash-out refi loan that will pay off $627.3 million in existing debt for the Grand Canal Shoppes, a retail, entertainment and dining complex in Las Vegas.

The incentives are stronger than ever to work toward standardizing the documentation, language and process for loans in commercial mortgage-backed securities to be combined with PACE financing.

Occidental Management is sponsoring a single-asset, single-borrower deal through JPMorgan backed by the fee simple interest from receivables of a lease-buyback arrangement with Sprint Corp.

Life insurance companies increased their mortgage investments to levels higher than historical norms, creating more potential danger for their portfolios in the event of a real estate downturn, a Fitch Ratings report said.

The publicly traded real estate investment firm is backing the securitization via Citi with 156 properties in 28 states.

Blackstone's real estate affiliate and property management firm SITE Centers Corp. acquired the 12 centers across seven states in 2014.