CMBS

While delinquent loans in commercial mortgage-backed securities continued trending downward overall, there was an uptick in the rate for more recent originations, a Standard & Poor's report noted.

Gaw Capital Partners and DJM Capital partners are sponsoring $211.3 million large-loan securitization that will include as collateral the famed Hollywood Walk of Fame.

A Silicon Valley mega-office-tower complex that is home to both Amazon and Facebook corporate offices is making another appearance in a conduit commercial mortgage-loan securitization.

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.