Commercial real estate lending

The company sold debt in three parts, according to a person familiar with the deal, including selling more of an existing bond due in 2053. The reopening of the 30-year bond yields 1.6 percentage point over Treasuries.

The amount of distressed assets rose 10% in the first three months of the year, according to a new report from MSCI Real Assets.

Small and regional banks have been rocked by deposit outflows following the demise of Silicon Valley Bank, raising concerns that will crimp their ability to provide finance to borrowers.

The unguaranteed loans are secured by one or more first-lien commercial real estate loans. The notes have a break-even default rate cushion of 2.39%.

Potters, who has headed CMBS businesses at SocGen and Merrill Lynch, will focus on digital and automated commercial real estate loan securitizations.

Key retail vacancies, a drop in office occupancies, plus a combination of lower oil prices, a housing market oversupply — worsened by the coronavirus pandemic — caused loan-level performance issues.

The transaction is also the first securitization for ACREC. The entity is also taking on multiple roles, acting as sponsor, issuer and collateral manager.

In a move becoming more commonplace for CRE CLOs, the collateral manager can direct modifications that are not subject to servicing standards in deal documents.

The 3.3 million-square-foot behemoth, which features an indoor ski slope and amusement park made a $9.3 million Aug. 2 payment on about $290 million.

Goldman Sachs Group hunts for a new office campus in Dallas that could become the Wall Street bank’s largest U.S. presence outside of Manhattan headquarters.