The $1.025 billion Commercial Mortgage Trust 2017-P7 relies on the "L" shaped risk retention strategy; Citigroup will retain 2.2% of the deal through vertical stake and Rialto Capital will hold another 7.7%
The impact on futures indexes was minimal, which caused them to rally. early reaction was most significant in CMBX 6 and 7 BBs, which tightened by 19 basis point and 24 basis points, respectively.
The deal is collateralized by 163 properties that the sponsor has acquired and leased back to 44 dealer groups; these leases are triple-net, meaning the tenant is required to pay all property-level expenses.
The deal is collateralized by 29 loans secured by 32 properties, all of them originated by LSTAR, an affiliate of Lone Star Funds, a global private equity firm.
Bankers and housing advocates say many low-income housing projects simply won't get built if the White House and Congress move to eliminate two federal block grant programs
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, its not clear exactly what the Commission will do.
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.
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.
DFG Taps Goldman Vet, Barclays Bulks Up on CMBS, Ares Adds Jeffrey Kramer and the ASF Retains Mike Williams as Policy Adviser
Could higher yields end up deepening the investor base for asset-backeds?
Treasurer, Head of Asset Management
Firm: NewStar Financial
Owning may offer consumers more savings than leasing, but loans pose a different set of risks to investors when pooled into collateral for bonds.Current Issue