CRE

The share of loans in Arbor's CLOs that failed to make a scheduled payment more than doubled in the fourth quarter, according to preliminary data compiled by Banco Santander SA.

Stress tests suggest systemically important depositories could weather current risks. Meanwhile, single-family arrears remain low, but that business could be impacted.

The Federal Reserve released its semiannual financial stability report highlighting elevated asset values, funding issues and pockets of leverage as top concerns.

A majority of the commercial real estate CLO's collateral has pari-passu participations, including 18 that have a related obligation for an unfunded future advance.

Decreased availability of bank capital for new commercial construction helped slow activity from the previous nine quarters, according to a new report.

Some 23 tenants occupy the data center complex in Illinois, which accounted for 86.7% of total square footage and 86.8% of rentable power. The property has a net operating income of $62.7 million, and cap rate of 6.70%.

Unibail-Rodamco-Westfield is offering to exchange any and all of its €1.25 billion ($1.37 billion) notes, which currently pay a coupon of 2.125%, with a new bond paying 7.25% and a cash amount.

Multifamily properties account for the vast majority of the initial pool balance, at 86.2%, DBRS said, which is a plus because multifamily properties typically have lower default rates than other CMBS property types.

Economic analysis from the real estate advisory CBRE finds that community banks are particularly imperiled by their exposure to commercial real estate loans. Others see looming risks in indirect lending.

But when compared past periods of upheaval, those rates remain relatively low, the Mortgage Bankers Association report showed.