Commercial MBS

News

Citigroup Marketing $917M Conduit CMBS

CGCMT 2016-P5, is backed by 49 fixed-rate loans secured by 73 properties. The loans have principal balances ranging from $2.8 million to $65 million for the largest loan in the pool, Hyatt Regency Jersey City, a 351-key, full-service hotel located in Jersey City, New Jersey.

Fannie, Freddie Helping Older Apartment Buildings Go Green

Both government sponsored enterprises discount the interest rates on loans for buildings with one of several “green” certifications; they also underwrite some of the projected savings from upgrades on buildings of a certain age, allowing owners to take out bigger loans.

NY Properties Highlight New Wells Fargo CMBS

Wells Fargo’s new commercial mortgage securitization of $757.1 million in notes includes backing from a key property centered on gentrification efforts in Queens.

Citigroup Shopping a $540M Self-Storage CMBS

The loan being securitized was used to refinance debt on a portfolio of properties that Brookfield Asset Management acquired through its purchase of Simply Self Storage in March.

JPMorgan Revives the Re-REMIC, CMBS-Style

The $484.9 million JPMCC 2016-FLRR is a securitization of the senior notes issued in other recent commercial mortgage securitizations: JPMCC 2016-FL8 and JPMCC 2016-H2FL.

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Articles

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

Verizon Selling Bonds Backed by Cell Phone Payments

The $1.17 billion deal follows a year’s worth of management deliberations over issuing asset-backeds, which Verizon expects to lower the cost of financing device payment-plan agreements.The deal will also ease pressure on the carrier's own corporate credit ratings.

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