Commercial mortgage-backed security

BTIG Hires Christopher Heaney, Jamarr Delauney and David Cantor on Structured Products Trading Team

Retrieved on: 
Tuesday, February 8, 2022
Consulting, Banking, Professional Services, Finance, Cultural Institutions Group, Industry, Bear Stearns, Commodity, ETF, Research, Solution, Company, Structured product, City, Commercial, Bear, Product life-cycle theory, Commercial mortgage-backed security, Credit Suisse, Executive Office of the President of the United States, Penn Mutual, Senior management, KeyBank, UBS, Jefferies, LLC, Security (finance), Financial services

Christopher Heaney and Jamarr Delauney have joined BTIG as Managing Directors, and David Cantor has joined the firm as a Director.

Key Points: 
  • Christopher Heaney and Jamarr Delauney have joined BTIG as Managing Directors, and David Cantor has joined the firm as a Director.
  • In their new roles at BTIG, they will report to Alejandro Feely, Managing Director and Head of Structured Products.
  • We welcome Christopher, Jamarr and David to the team and know they will help us expand BTIGs footprint in the Structured Product space, said Mr. Feely.
  • Before joining BTIG, he was a Managing Director within Loan and Structured Products Trading at Cross Point Capital.

KBRA Releases Research – Structured Credit: LIBOR Transition—Basis Loaded?

Retrieved on: 
Tuesday, October 19, 2021
Banking, Professional Services, Finance, Legislation, KBRA, USD, Commercial mortgage-backed security, Clos, SOFR, LIBOR, Bond, Risk, Documentation, Contract, Bank

Kroll Bond Rating Agency (KBRA) releases a report on the challenges faced by the structured credit market ahead of the LIBOR transition.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a report on the challenges faced by the structured credit market ahead of the LIBOR transition.
  • As the June 2023 cessation date for 1-month and 3-month USD LIBOR looms closer, structured credit products still face uncertainty as borrowers and lenders weigh the economic impact of switching to the recommended replacement, the Secured Overnight Financing Rate (SOFR).
  • Regulators have urged the broader market to cease issuing new LIBOR-based contracts by the end of 2021, clearing the way for SOFR as the successor benchmark for floating rate transactions.
  • KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada.

Arbor Realty Trust, Inc. Announces Pricing of Public Offering of Series E Cumulative Redeemable Preferred Stock

Retrieved on: 
Wednesday, August 4, 2021
Financial markets, Finance, Financial economics, Corporate finance, Stock market, Initial public offering, Equity securities, Public offering, Prospectus, Preferred stock, Liquidation preference, Stock

UNIONDALE, N.Y., Aug. 04, 2021 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (the Company) (NYSE:ABR) announced today that it has priced the public offering of 5,000,000 shares of its 6.25% Series E Cumulative Redeemable Preferred Stock (the Series E Preferred Stock), liquidation preference $25.00 per share, for gross proceeds of $125 million, before deducting underwriting discounts and estimated offering expenses.

Key Points: 
  • UNIONDALE, N.Y., Aug. 04, 2021 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (the Company) (NYSE:ABR) announced today that it has priced the public offering of 5,000,000 shares of its 6.25% Series E Cumulative Redeemable Preferred Stock (the Series E Preferred Stock), liquidation preference $25.00 per share, for gross proceeds of $125 million, before deducting underwriting discounts and estimated offering expenses.
  • The Company has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of the Series E Preferred Stock to cover over-allotments, if any.
  • The Company intends to use the net proceeds from the offering to make investments relating to its business and for general corporate purposes.
  • The offering of these securities is being made only by means of a prospectus and related prospectus supplement.

Arbor Realty Trust, Inc. Announces Public Offering of Series E Cumulative Redeemable Preferred Stock

Retrieved on: 
Wednesday, August 4, 2021
Financial markets, Financial economics, Finance, Stock market, Corporate finance, Equity securities, Preferred stock, Stock, Short

UNIONDALE, N.Y., Aug. 04, 2021 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (the Company) (NYSE:ABR) announced today that it plans to make a public offering of an initial issuance of its Series E Cumulative Redeemable Preferred Stock (the Series E Preferred Stock).

Key Points: 
  • UNIONDALE, N.Y., Aug. 04, 2021 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (the Company) (NYSE:ABR) announced today that it plans to make a public offering of an initial issuance of its Series E Cumulative Redeemable Preferred Stock (the Series E Preferred Stock).
  • In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase additional shares of Series E Preferred Stock to cover over-allotments, if any.
  • The Company intends to file an application to list the Series E Preferred Stock on the NYSE under the symbol ABR PrE and, if approved, expects trading to commence within 30 days after the initial issuance of the Series E Preferred Stock.
  • The Company intends to use the net proceeds from the offering to make investments relating to its business and for general corporate purposes.

Tremont Mortgage Trust Closes $13.4 Million First Mortgage Bridge Loan to Finance Acquisition of Parallax Apartments in Portland, Oregon

Retrieved on: 
Tuesday, August 3, 2021
REIT, Finance, Professional services, Residential Building & Real Estate, Construction & Property, Finance, Money, Financial services, Mortgage, Loans, Mortgage loan, Structured finance, United States housing bubble, Banking, Commercial mortgage-backed security, Secondary mortgage market

Tremont Mortgage Trust (Nasdaq: TRMT) today announced the closing of a $13.4 million first mortgage floating-rate bridge loan to finance the acquisition of Parallax Apartments, a 66-unit, Class A, multifamily property located at 4030 North Williams Avenue in Portland, Oregon.

Key Points: 
  • Tremont Mortgage Trust (Nasdaq: TRMT) today announced the closing of a $13.4 million first mortgage floating-rate bridge loan to finance the acquisition of Parallax Apartments, a 66-unit, Class A, multifamily property located at 4030 North Williams Avenue in Portland, Oregon.
  • The loan is structured with a three-year initial term and two one-year extension options, subject to the borrower meeting certain requirements.
  • This loan meets TRMTs objective of investing capital into strong credit opportunities, backed by middle market commercial real estate properties and high quality sponsors.
  • Tremont Mortgage Trust (Nasdaq: TRMT) is a real estate finance company that originates and invests in first mortgage loans secured by middle market and transitional commercial real estate.

KBRA Releases Research – CMBS Loan Performance Trends: July 2021

Retrieved on: 
Friday, July 30, 2021
Banking, Professional services, Finance, Finance, Money, Mortgage, Structured finance, Financial services, United States housing bubble, Commercial mortgage-backed security, Loan servicing, Mortgage-backed security, Commercial mortgage, Capital Services Group, Primary servicer

Kroll Bond Rating Agency (KBRA) releases a report on U.S. commercial mortgage-backed securities (CMBS) loan performance trends observed in the July 2021 servicer reporting period.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a report on U.S. commercial mortgage-backed securities (CMBS) loan performance trends observed in the July 2021 servicer reporting period.
  • This month, KBRA also analyzed the special servicing and modification activity of CMBS 2.0 loans outstanding at the start of the pandemic.
  • From April 2020 to June 2021, 1,383 (7.1%) loans transferred to special servicing, totaling $49.5 billion (11.1%).
  • Of these, 28.6% by loan count and 34.6% by balance have transferred back to the master servicer.

KBRA Assigns Preliminary Ratings to Benchmark 2021-B28

Retrieved on: 
Wednesday, July 28, 2021
Professional services, Finance, Finance, Money, Financial markets, Mortgage-backed security, Structured finance, Fixed-income securities, Mortgage, Commercial mortgage-backed security, Commercial mortgage, KBRA, Mortgage loan, Capitalization rate

Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 19 classes of Benchmark 2021-B28, a $1.4 billion CMBS conduit transaction collateralized by 71 commercial mortgage loans secured by 131 properties.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 19 classes of Benchmark 2021-B28, a $1.4 billion CMBS conduit transaction collateralized by 71 commercial mortgage loans secured by 131 properties.
  • The collateral properties are located throughout 30 MSAs, of which the three largest are New York (31.3%), Miami (5.3%), and Chicago (4.7%).
  • The pool has exposure to most major property types, with two types representing more than 15.0% of the pool balance: office (40.7%) and retail (24.3%).
  • KBRA capitalization rates were applied to each assets KNCF to derive values that were, on an aggregate basis, 42.8% less than third party appraisal values.

Chimera Investment Corporation Announces Date of Second Quarter 2021 Financial Results and Conference Call

Retrieved on: 
Tuesday, July 20, 2021
REIT, Finance, Banking, Professional services, Construction & Property, Structured finance, Fixed-income securities, Mortgage-backed security, Finance, Real estate investment trust, Commercial mortgage-backed security, RMBS, Money, United States housing bubble

Chimera Investment Corporation (NYSE: CIM) (the "Company") announced today that it plans to release its financial results for the first quarter ended June 30, 2021 on Wednesday, August 4, 2021 prior to 7:00 a.m. EDT. The Company will conduct a conference call and audio webcast to discuss the results on Wednesday, August 4, 2021 at 8:30 a.m. EDT.

Key Points: 
  • If you would like to be added to the e-mail distribution list, please visit www.chimerareit.com , click on Contact Us & Email Alerts, and complete the email notification form.
  • We are a publicly traded REIT that is primarily engaged in the business of investing directly or indirectly through our subsidiaries, on a leveraged basis, in a diversified portfolio of real estate assets, including mortgage loans, Agency RMBS, Non-Agency RMBS, Agency CMBS, and other real estate assets.
  • Please visit www.chimerareit.com for additional information about the Company.
  • View source version on businesswire.com: https://www.businesswire.com/news/home/20210720006049/en/

Freddie Mac Named RMBS and CMBS Issuer of the Year

Retrieved on: 
Thursday, July 15, 2021
Financial markets, Structured finance, Mortgage-backed security, Mortgage industry of the United States, Fixed-income securities, Finance, Commercial mortgage-backed security, Freddie Mac

The RMBS and CMBS awards recognize Freddie Macs Single-Family Credit Risk Transfer (CRT) STACR and its Multifamily K-Deal securities, respectively.

Key Points: 
  • The RMBS and CMBS awards recognize Freddie Macs Single-Family Credit Risk Transfer (CRT) STACR and its Multifamily K-Deal securities, respectively.
  • The RMBS Issuer of the Year Award acknowledges Freddie Macs ongoing commitment to the credit risk transfer asset class, said Freddie Macs Mike Reynolds, Vice President of Single-Family CRT.
  • Through CRT, Freddie Mac helps ensure a better housing finance system for homebuyers while decreasing risk and providing unique opportunities for investors.
  • Were very proud to be named CMBS Issuer of the Year, said Robert Koontz, Freddie Mac Senior Vice President, Multifamily Capital Markets.

KBRA Assigns Preliminary Ratings to MHP Commercial Mortgage Trust 2021-STOR

Retrieved on: 
Thursday, July 15, 2021
Banking, Professional services, Finance, Finance, Money, Financial services, Loans, Banking, Mortgage, Structured finance, Commercial mortgage-backed security, Commercial mortgage, Mortgage loan, Securitization, Floating interest rate

Kroll Bond Rating Agency (KBRA) announces the preliminary assignment of ratings to nine classes of MHP Commercial Mortgage Trust 2021-STOR, a CMBS singe-borrower securitization.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) announces the preliminary assignment of ratings to nine classes of MHP Commercial Mortgage Trust 2021-STOR, a CMBS singe-borrower securitization.
  • The collateral for the transaction is a $468.0 million non-recourse, first lien mortgage loan.
  • The floating rate loan has an initial two-year term with three one-year extension options and requires monthly interest-only payments based on one-month LIBOR.
  • The portfolio properties total 4.0 million sf, inclusive of 678,097 sf of commercial and parking space, with assets ranging from 16,022 sf to 175,750 sf.