CMBS

Controlling classes of investors in commercial mortgage-backed securitizations can replace a special servicer, but before they do, they should make sure the long and potentially expensive process is worth it.

A joint venture between the New York firm, Migdal Insurance and the Arden Group obtained a $311 million mortgage on 1735 Market Street from Deutsche Bank and Goldman Sachs.

The Structured Finance Industry Group wants Treasury and the IRS to issue a notice that a change from Libor to an alternative index would not be treated as a taxable exchange.

The €249 million Taurus 019-1 FR is backed by a single loan from Bank of America on a portfolio of 206 mixed-use properties leased to French electric utility EDF.

Retail Value Inc, which was spun off from SITE Centers last year obtained a $900 million mortgage from three banks on the 25 assets in 14 states and Puerto Rico

The deal gives ELAD, part of Israel's Tshuva Group of companies, its first industrial assets in U.S.; the 48 properties are located across eight states and 10 different markets.

DBRS and Kroll Bond Rating Agency also rate commercial real estate collateralized loan obligations, as does Moody’s Investors Service, though Moody’s rates only the senior tranche of deals

The Blackstone-backed company obtained a $530 million mortgage from Goldman Sachs and JPMorgan Chase secured by 18 industrial cold storage facilities.

Bancorp 2019-CRE5 contains 46 loans on apartment buildings accounting for 82.4% of the collateral pool; that's up from 78.8% for the sponsor's prior deal.

Hines Interests used the $755 million loan from Goldman and JPMorgan to take out a $505 million mortgage from two insurance companies, MetLife and New York LIfe.