CMBS

Structured credit firm ZAIS Group has hired two new executives to spearhead its collateralized loans obligation and other asset-backed businesses out of London.

Credit Suisse is marketing $767 million of bonds backed by 53 mortgage that are secured in turn by 199 commercial properties, according to rating agency reports.

Park Hotels & Resorts, the real estate investment trust being spun out of Hilton Worldwide Holdings, is tapping the securitization market for a cash-out refinancing of two full-service hotels in San Francisco.

Late payments on securitized commercial mortgages climbed again in October, as they have for seven of the past eight months.

A first-lien mortgage loan issued for the new State Farm Mutual Insurance regional headquarters building in suburban Dallas, Tex., is being collateralized for a single-property securitization.

Citigroup Global Commercial Mortgage Trust 2016-3 is a $756.4 million asset-backed pool of 44 fixed-rate loans secured by 72 commercial properties. Forty-four of the properties in the pool are hotels or office, all tied to loans originated within the last five months.

Velocity Commercial Capital is marketing its second small balance commercial loan securitization of the year.

Morgan Stanley, Wells Fargo and Bank of America are marketing $725.6 million of commercial mortgage bonds designed to meet requirements from regulators on both sides of the Atlantic to keep “skin in the game” of their deals.

Credit Suisse is marketing bonds backed by a $280 million floating-rate mortgage collateralized by 27 standalone retail properties leased to Mills Fleet Farm.

Blackstone Real Estate Partners is tapping the securitization market for a cash out refinancing of The Cosmopolitan Las Vegas hotel and casino.