CMBS

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.

The $50.4 million participation is the largest loan in UBS' next $807.3 million commercial mortgage securitization.

The developer of the newly constructed Washington, D.C., headquarters for Fannie Mae is securitizing part of its $525 million, 10-year mortgage through a single-asset, mortgage-backed transaction.

BX Commercial Mortgage Trust 2019-XL, via Citigroup, features 11 note classes backed by a floating-rate, first-lien mortgage on 406 Blackstone-owned properties with a tenant roster of over 2,000 lessees — including Home Depot, UPS, FedEx and Amazon.

The commercial mortgage-backed securities sector will weather the fourth quarter's slowing but steady growth in the U.S. economy, as better loan performance counters a continued decline in volume, Morningstar said.

The $460 million BFLD Trust 2019-DPLO will be secured by a two-year mortgage loan that will refinance $401.3 million of existing debt, plus pay $147.5 million of equity.