CMBS

A $92 million portion of $194.4 million mortgage on a portfolio of 36 ExtraSpace Self Storage locations is the largest of 42 loans backed backing MSC 2017-HR2.

The Dan Gilbert-controlled skyscraper has apportioned $70M of a $102M whole-loan refinancing to the Wells conduit.

The deal, BXMT 2017-FL1 weighs in at $1 billion, making it more than twice as large as most CRE-CLOs issued this year; its size isn't the only unusual feature, however.

The Trepp CMBS delinquency rate is now 5.18%, a decrease of three basis points from the October level; declines were limited to the industrial, multifamily and office subindexes.

CHT 2017-CSMO will issue six classes of notes in the $1.38 billion transaction, which will refinance a 2016 mortgage securitization and provide funds for renovation.

This time it’s the JW Marriott Phoenix Desert Ridge Resort & Spa, a 950-room, full-service resort. A $365 million first mortgage on the property from Morgan Stanley is being securitized via MSC 2017-JWDR.

A $40 million slice of the original, $600 million mortgage on the 2 million-square-foot portfolio is one of the largest of 38 loans used as collateral in UBS 2017-C6, a $684.7 million conduit.

The properties have a total of 1,228 rooms, or "keys" located across four major U.S. cities: San Francisco (346 keys; 39.4% of allocated loan amount), Chicago (429 keys; 26.4%), Boston (178 keys; 18.2%) and Philadelphia (275 keys; 16%).

The private equity firm obtained a $540 million loan on the JW Marriott Grande Lakes and the Ritz-Carlton Grande Lakes, which are situated on 500 acres at the headwaters of the Everglades, from Barclays and Wells Fargo.

The securitization market is weathering risk retention and rising interest rates, though Fitch Ratings is keeping its eye on some consumer asset classes as the credit cycle lengthens.