The deal will be backed by fixed rate mortgage loans secured by first liens on various types of commercial, multifamily, and manufactured housing community properties.
The transaction is backed by Destiny USA, the sixth largest enclosed mall in the U.S. and the largest shopping center in New York State.
Morgan Stanley plans to issue $800 million in securities backed by a single commercial mortgagethat is secured by Century Plaza Towers, a tier-one office property in Los Angeles.
Goldman Sachs International priced a 200 million ($270 million) multi-loan Italian CMBS dubbed Moda 2014 that is backed by two loans that are secured on retail outlets and shopping centers.
The deal, COMM 2014-UBS4 Mortgage Trust, will be backed by a pool of 91 loans secured by 124 properties throughout New York, Texas, and California.
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?
Vice President of Regulatory Compliance
Firm: Clayton Holdings
In the news: How Ability-to-Repay Rules Could Reshape RMBS Market
Securitization of very large commercial mortgages is picking up again, and so is the leverage in some of these deals.Current Issue