CMBS

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%.

Westmont Hospitality Group has secured a $360 million first mortgage and $40 million mezzanine loan from Barclays and Morgan Stanley that is secured by a portfolio of 89 Red Roof locations in 25 states.

Moody's considers the $932.4 million TPG Real Estate Finance Trust 2018-1 to be highly leveraged, though not as highly leveraged as Blackstone's inaugural transaction.

The Trepp CMBS Delinquency Rate for U.S. commercial real estate loans in CMBS is now 4.83%, a decrease of six basis points from the December level.

The Renaissance Aruba Resort & Casino went through a foreclosure in 2012, giving its mezzanine lender an equity stake; the majority owners have obtained a new $195 million loan to buy out two partners.

JPMorgan is bundling portions of the first mortgages on six towers in what was once the Jersey City Medical Center into collateral for $200 million of commercial mortgage bonds.

Varde VMC Lender, a Minneapolis firm specializing in distressed commercial real estate, has branched out to financing offices and apartment buildings being upgraded or repurposed.

The private investment firm has obtained a $471 million mortgage from Goldman Sachs secured by 85 properties with a total of 10,764 keys operating under the InTown Suites flag.

The largest loan is a $94 million portion of a $340 million mortgage originated by Wells, Deutsche and Goldman secured by three interconnected buildings whose sole tenant is Apple.