Commercial MBS


JP Morgan Securitizing $557M Loan Backed by Office & Flex Properties

Workspace Property Trust, a real estate investment trust founded last year by former Mack-Cali Realty executives, used the loan to help finance the acquisition of the property from another REIT, Liberty Property Trust.

NorthStar, Latitude Marketing Pair of CRE CLOs.

Northstar Realty Finance's $284.2 million deal is fully ramped; Latitude Management Real Estate Investors' has 180 days to acquire the remaining collateral for its $395 million deal

Wells Fargo Preps CMBS with Significant Exposure to Co-ops

The collateral pool contains 10 loans (8.4% of the balance) secured by multifamily cooperatives; these have LTVs significantly below the portfolio average, skewing the overall credit metrics.

Next CMBS to Comply with Risk Retention Backed by Manhattan Office Bldg

Deutsche Bank provided the $254 million first mortgage on the property at 667 Madison Avenue. The 10-year loan pays only interest, and no principal, for its entire term. It was used to defease a mortgage that was set to mature in 2007.

New MS/BAML Trust Showcases Huntington Bank HQ

The national headquarters building for Huntington National Bank in Columbus, Ohio, is among the 101 properties securing 60 commercial loans in an office-centric, $953.2 million securitization pieced together by Morgan Stanley, Bank of America Merrill Lynch and three other lenders/sellers.



Reg AB II Returns from Limbo

Regulation AB governs registration, reporting and disclosure requirements for all things asset-backed. The Securities and Exchange Commission appears to be ready to update it significantly, but, nearly four years after changes were originally proposed, it’s not clear exactly what the Commission will do.

Finra Files Proposal to Disseminate Price Data

The proposal would introduce dissemination of trade prices for securities ranging from highly liquid credit card and auto ABS to smaller and more esoteric deals in asset classes such as time shares, to commercial mortgage-backed securities (CMBS) and highly structured CDOs and collateralized loan obligations.

Editor's Letter

As July came to a close, it was clear to everyone at ASR that the structured finance market was not about to take a vacation.

People on the Move

DFG Taps Goldman Vet, Barclays Bulks Up on CMBS, Ares Adds Jeffrey Kramer and the ASF Retains Mike Williams as Policy Adviser

Silver Lining

Could higher yields end up deepening the investor base for asset-backeds?


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Current Issue

Old CMBS Bubble is Resurfacing

More than $200 billion of the most poorly underwritten commercial mortgages originated before the financial crisis come due this year and next, many of them still underwater.

Current Issue