CMBS

There are four loans with investment grade characteristics that help boost the overall credit metrics of the collateral pool.

The sponsor obtained a $1 billion mortgage from JPMorgan, Goldman and Citi; proceeds will be used to repay $715 million of debt taken out in 2015 to acquire the original portfolio from Apollo Global Management.

The latest round of Freddie-backed mortgages for the development, acquisition or rehabilitation or affordable multifamily housing includes 67 properties, with the highest concentration in California.

Some 109 securitized commercial mortgages totaling about $5.5 billion carry the retailer; the largest is a $400 million single-asset deal backed by a portfolio of 123 stores.

The largest loan, One Kansas City Place, representing 10.3% of the collateral pool, is primarily occupied by an investment-grade tenant, Kansas City Power and Light Co.

There are seven other CMBS issued this year with exposure to the skyscraper at 767 Fifth Avenue. In June, the owners took out a $1.47 billion whole loan that was used to refinance existing debt and pay a dividend; the largest portion was securitized in a single-asset transaction.

The 19-story Class A office building boasts a LEED Gold certification and a concentrated tenant roster, led by Saatchi & Saatchi and Penguin Random House.

Morningstar thinks that $38.94 billion of CMBS loans that it rates in Florida could be impacted; it sees another $19.38 billion of exposure in Georgia, $5.16 billion in Alabama, and $5.03 billion in South Carolina.

The Terrorism Risk Insurance Act was created after 9/11 to serve as a crucial federal backstop for commercial real estate insurers, but an analysis of alternatives to fund the program reveals the continued challenges of measuring and predicting terror risk.

Stonemont Financial Group, an Atlanta-based real-estate-management firm, is tapping the commercial mortgage bond market to help finance its acquisition of a portfolio of 100 office buildings, industrial and retail properties.