CMBS

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.

The new Motel 6/Studio 6 deal is collateralized by the fee income of a refi commercial loan, as well as cash-flow pledges from company-owned and franchised properties.

Damages have typically not been a "disruptive problem" with hurricanes because of commercial properties' insurance, Trepp reports, but expiring leases of major tenants and the energy industry fallout have already had an impact on Houston-area office buildings.

A joint venture between Nightingale and WCP acquired the property, which is well known for the Claes Oldenburg Clothespin sculpture in its front plaza, for $328 million in July.

Although challenges have accelerated for certain segments of the U.S. retail industry, the exposure to troubled retail in U.S. structured finance sectors is limited, posing small-to-modest risks for some asset classes.