CMBS

The single-loan securitization is through Morgan Stanley on suburban properties mostly concentrated in the Washington, D.C., area.

TPG Capital is including its newly acquired first-lien interest in a Microsoft-leased office campus in Redmond, Wash., in a portfolio of suburban office properties it is financing through a new two-year commercial loan.

Though not heavily indebted, the 1.5 million-square-foot Fair Oaks Mall has anchored by department stores that have announced store closures, and has below-average inline sales.

The eligibility criteria for loans that can be acquired are “more liberal” than recent CRE CLOs rated by Kroll; they are also more liberal than those of Hunt’s initial CRE CLO, completed last year.

A joint venture between an investment vehicle for Michael Dell's family and Lake Avenue Investments obtained a $450 million mortgage on the Four Seasons Hualalai from Goldman Sachs.

The bank is balancing that exposure with a greater amount of property diversity and the the inclusion of three large investment-grade-type loans for UBS Commercial Mortgage Trust 2018-C12.

A $333 million first mortgage on the Palmer House Hilton, a 24-story building with 1,641 guestrooms in Chicago’s central business district, is being securitized by JPMorgan Chase.

A $100.3 million sliver of the $1.7 billion loan is being used as collateral for a conduit securitization called Benchmark 2018-B5 Mortgage Trust, according to DBRS. It represents 9.9% of the $1.04 billion transaction.

Extell Development obtained a 119-month, $110 million mortgage and two mezzanine loans totaling $140 million from Natixis; proceeds repaid existing debt of $209.2 million and funded closing costs as well as a rent step-up reserve.

The transaction, Shelter Growth CRE 2018-FL1, is backed by 22 properties with a total balance of $415.1 million; it is static, meaning the only new loans to be added to the trust will be "companion” interest in loans secured by existing assets.