Commercial MBS


Same Market Street Shopping Mall, Different CMBS

DBJPM 2016-C3 is backed by 32 commercial mortgages secured by 54 properties; the largest loan, at $84 million, is secured by the Westfield San Francisco, a nine-story, 1.4 million square foot retail and office property located along Market Street in the Union Square neighborhood.

Deutsche Bank, JPMorgan Shopping a $300M Mall CMBS

The collateral for the deal, dubbed DBJPM 2016-SFC, is a $306.9 million portion of a $558 million first-lien mortgage on Westfield San Francisco. The borrower, a real estate investment trust, appears to be refinancing a year early.

B2R Returns to Securitization Market Following Management Shakeup

Fitch Ratings says that underwhriting still conforms to best practices following the departure of CEO Jason Hogg and pullback on an expansion into consumer lending over the internet.

Wells Plans Latest CMBS Around Smaller Market Collateral

Wells Fargo is marketing its second commercial mortgage securitization in two months, this time with a focus on smaller-market retail, hotel and office properties.

Citigroup's Next CMBS Has Heavy Exposure to Split Loans

Two of the largest loans backing the $621 million Citigroup Commercial Mortgage Trust 2016-P4 have companion, controlling notes expected to be securitized in other transactions.



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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Nirjhar Jain

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Firm: Guggenheim Securities

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