CMBS

Commercial banks typically compete with CMBS, but this Delaware state chartered bank is securitizing 30 floating-rate loans secured by 35 apartment complexes, retail and office buildings.

Citigroup and Goldman Sachs are securitizing a $405 million first mortgage taken out to help finance the private equity-led acquisition of the WoodSpring Suites low-priced extended-stay hotel chain.

Growing competition may prompt commercial mortgage-backed securities issuers to accept higher loan-to-value ratios in their deals.

The real estate investment trust obtained a $1.35B mortgage from four banks on a portfolio of 38 properties in the U.S. and pledge of cash and insurance on another 12 in Puerto Rico.

The Trepp CMBS Delinquency Rate is now 4.51%, a decrease of 32 basis points from the January level; only the multifamily subindex experienced a rise in late payments.

It has obtained a $1.4 billion mortgage from four banks on a portfolio of 27 buildings that were previously securitized in a 2016 transaction, according to rating agency reports.

Timothy Bowler, president of the ICE Benchmark Administration, which has been responsible for calculating the index since mid-2013, argues that there is a strong case for keeping it going.

Junson Capital obtained a $179 million first mortgage from Natixis; proceeds, along with $40 million of subordinate debt and $115 million of equity, were used to fund the $334.3 million acquisition.

Demand for hotel rooms is running high, and mortgage bond investors are lining up to finance acquisitions and upgrades of even the largest resorts.

Grow was previously director of MBS and ABS securities; he replaces VIckie Tillman, who retired in December after overseeing the company's expansion into a diversified credit rating agency.