CMBS

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.

Ares, along with RDA and Park Hotels & Resorts, obtained a $475 million loan from JPMorgan Chase and Wells Fargo; proceeds will refinance a loan securitized in 2014 and return $90 million of equity.

The $510.2 million transaction, BDS 2018-FL1, is primarily backed by multifamily (47%) and office buildings (42.1%) originated by ROC Debt Strategies Fund II REIT.

The REIT has obtained a $395 million loan form JPMorgan Chase that is being used to repay existing debt of $378.9 million that was previously securitized in BAML 2014-ASHF.

The deal is backed by an unusually concentrated portfolio of just 19 loans on properties being rehabbed or converted to a new use; by property type, the biggest exposure is to hospitality, at 19.7%.