CMBS

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.

The loan covering single-tenant distribution/fulfillment centers is the largest obligation in the transaction being rated by four agencies.

S&P says investors are asking more questions about how rising levels of self-storage property collateral is affecting conduit CMBS transactions.

The New York developer is apportioning part of a recent $595M loan via a Credit Suisse conduit to finance a full repurchase of its Manhattan HQ.

The deal will add to the bulge of recent SASB deals that produced a monthly record volume of $7.6 billion through 11 deals in May.

The large number of overleveraged commercial mortgage-backed securities loans coming due in 2019 is likely to cause the payoff rate to drop an additional 9 percentage points by December, a Morningstar report said.

The Lineage Logistics transaction is the largest single-borrower, large-loan deal since the Blackstone Group tapped the CMBS market for a $2.5 billion single-loan deal backed by 169 industrial properties and two data centers.

The $161.5 million transaction backed by leasehold interests in the Jimmy Buffett-themed luxury hotel will include a $49.3M cash-out payment to the Denver-based PE firm.