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Trading Alert: Shop 'n Save to Sell Some Stores, Others Could Face Closure
Blog 1 day ago
Trading Alert: Shop 'n Save to Sell Some Stores, Others Could Face Closure

Back in April, we noted that Supervalu, Inc. announced that the firm was going to sell its St. Louis-based Shop 'n Save stores and its Shop 'n Save...

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The Five Largest CMBS Loan Losses from August 2018
Blog 2 days ago
The Five Largest CMBS Loan Losses from August 2018

The total volume of CMBS debt that paid off with a loss in August was $1.07 billion across 72 notes, $752.4 million of which was written off. Both...

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Possible Regulatory Relief: Guidance is Not the Law
Blog 3 days ago
Possible Regulatory Relief: Guidance is Not the Law

Five major government agencies – The Federal Reserve, the Bureau of Consumer Financial Protection (CFPB), Federal Deposit Insurance Corporation ...

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CLO Market Round-up: Deal Volume Drops but October Issuance Flurry Looms
Blog 4 days ago
CLO Market Round-up: Deal Volume Drops but October Issuance Flurry Looms

Just a quick scheduling note before we get into last week's CLO activity. Trepp will be attending ABS East in Miami from September 23rd to the 25th...

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CMBS Week in Review: Trio of Conduits to Hit the Market; Trading Surges as Spreads Tighten
Blog 5 days ago
CMBS Week in Review: Trio of Conduits to Hit the Market; Trading Surges as Spreads Tighten

Trading volume in the secondary CMBS market ticked up last week with roughly $1.02 billion out for bid between Monday and Friday. Overall activity...

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Payoff Rate for Maturing Debt Plunges in August
Blog 1 week ago
Payoff Rate for Maturing Debt Plunges in August

The percentage of CMBS loans which paid off at maturity fell sharply in August as the volume of loans coming due remains light. Only $135 million...

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Banking Buzz: Freddie Mac Launches Lending Program for Affordable Housing; CRE Lending Grows
Blog 1 week ago
Banking Buzz: Freddie Mac Launches Lending Program for Affordable Housing; CRE Lending Grows

According to Orest Mandzy of Commercial Real Estate Direct, Freddie Mac has launched Non-LIHTC Forwards, a lending program intended to push the...

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CLO Market Round-up: Issuance Remains Lively; CLOs of the Rich and Famous
Blog 1 week ago
CLO Market Round-up: Issuance Remains Lively; CLOs of the Rich and Famous

The CLO market opened the post-summer season with a modest uptick in new issuance. Considering it was a four-day week in the US, it’s not...

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The Five Largest CMBS Loans to Turn Newly Delinquent in August 2018
Blog 1 week ago
The Five Largest CMBS Loans to Turn Newly Delinquent in August 2018

A trusted combination pulled the Trepp CMBS Delinquency Rate sharply lower once again in August: continued resolutions of distressed legacy debt...

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CMBS Week in Review: Conduit Issuance Pipeline Primed Following Summer Break
Blog 1 week ago
CMBS Week in Review: Conduit Issuance Pipeline Primed Following Summer Break

Secondary CMBS participants resumed their normal trading duties following the Labor Day weekend as the week's bid list volume totaled $275 million....

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Phillips Edison to Become One of the Country’s Largest Operators of Grocery Retail
Blog 2 weeks ago
Phillips Edison to Become One of the Country’s Largest Operators of Grocery Retail

Phillips Edison & Co., a 27-year-old specialist in grocery-anchored retail centers, has struck a deal to merge with its Phillips Edison Grocery...

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CLO Market Round-up: US Issuance Chugs Along; Heavy Overlap Between Deal Managers
Blog 2 weeks ago
CLO Market Round-up: US Issuance Chugs Along; Heavy Overlap Between Deal Managers

As the European CLO market continued its late summer break with zero new pricings, the US segment lined up nine new deals over the final week of...

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CMBS Delinquency Rate Races Lower in August
Blog 2 weeks ago
CMBS Delinquency Rate Races Lower in August

A trusted combination pulled the Trepp CMBS Delinquency Rate sharply lower once again in August: continued resolutions of distressed legacy debt...

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CMBS Week in Review: Grocery Retailer to Shutter Stores; CMBX Spreads Tighten
Blog 2 weeks ago
CMBS Week in Review: Grocery Retailer to Shutter Stores; CMBX Spreads Tighten

Secondary activity in the CMBS market thinned out ahead of the Labor Day weekend with roughly $210 million out for bid last week. While overall...

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CBRE Buys Stake in Trio of Former GGP Malls
Blog 3 weeks ago
CBRE Buys Stake in Trio of Former GGP Malls

CBRE Global Investors has acquired a stake in three shopping malls from Brookfield Property Partners. The three properties were formerly owned by...

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Retail Round-Up: Is Strong Q2 Enough to Keep CMBX “Big Short” at Bay?
Blog 3 weeks ago
Retail Round-Up: Is Strong Q2 Enough to Keep CMBX “Big Short” at Bay?

Boosted by new tax incentives, stable job creation, and heightened GDP expansion, consumer spending and sales activity ticked up this summer. This...

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Banking Buzz: Fed Chair Stands Pat on Rates; CRE Lending Down
Blog 3 weeks ago
Banking Buzz: Fed Chair Stands Pat on Rates; CRE Lending Down

Toward the end of last week, Jerome Powell gave his first public address from Jackson Hole as Federal Reserve Chairman. Powell put a bow on the Fed...

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CLO Market Round-up: US Issuance Surges; Nearly $20 Billion Up for Reset Soon
Blog 3 weeks ago
CLO Market Round-up: US Issuance Surges; Nearly $20 Billion Up for Reset Soon

The US CLO market resumed its breakneck pace last week while the European sector finally took its August breather. Thirteen deals totaling $6.8...

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CMBS Week in Review: Sears, Lowe's Announce Store Closures; Issuance Break Ahead?
Blog 3 weeks ago
CMBS Week in Review: Sears, Lowe's Announce Store Closures; Issuance Break Ahead?

The summer lull hit the secondary CMBS sector last week as trading volume barely eclipsed $300 million between Monday and Friday. A few block...

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Blackstone Continues to Dominate Non-Traded REIT Sector
Blog 4 weeks ago
Blackstone Continues to Dominate Non-Traded REIT Sector

Although Blackstone Group is one of the newest players in the non-traded REIT space, the firm continues to outpace every one of its peers....

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The Five Loans Backed by a Sears Closure That CMBS Investors Should Footnote
Blog 1 month ago
The Five Loans Backed by a Sears Closure That CMBS Investors Should Footnote

Sears Holdings announced late yesterday afternoon that it will be closing another 46 of its stores. In total, 13 Kmarts and 33 Sears locations will...

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The Top 20 Secondary Metro Areas for CRE Investment
Blog 1 month ago
The Top 20 Secondary Metro Areas for CRE Investment

CRE values – especially in top-tier markets – are at all-time highs and cap rates are as tight as ever. This means that finding suitable risk...

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CLO Market Round-up: Issuance Rolls On; Returns Outpacing That of Hedge Funds
Blog 1 month ago
CLO Market Round-up: Issuance Rolls On; Returns Outpacing That of Hedge Funds

Although the CLO market continued at a slightly slower speed last week, the sector’s issuers and arrangers continue to plug away despite the allure...

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CMBS Week in Review: New Conduit Prices with Tight Benchmark Spread; CMBX Widens
Blog 1 month ago
CMBS Week in Review: New Conduit Prices with Tight Benchmark Spread; CMBX Widens

The secondary CMBS market saw modest trading activity as last week's total bid list volume came in just under $800 million. Over the course of the...

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Legacy CMBS Universe Starts to Contract as Many Deals Near Clean-Up
Blog 1 month ago
Legacy CMBS Universe Starts to Contract as Many Deals Near Clean-Up

The universe of legacy CMBS, comprised of deals issued before 2008, continues to dwindle and now totals only $31.9 billion. That's just more than 5...

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Banking Buzz: Banks Displeased with Volcker 2.0; CRE Lending Volume Drops
Blog 1 month ago
Banking Buzz: Banks Displeased with Volcker 2.0; CRE Lending Volume Drops

A few weeks ago, we mentioned that a bill which could give the Federal Reserve control of the Volcker Rule passed the House. Not long after that...

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CLO Market Round-up: Another Wave of Issuance Hits the Market
Blog 1 month ago
CLO Market Round-up: Another Wave of Issuance Hits the Market

A few weeks ago, we wondered if the annual August "holiday" season would translate to a slowdown in the CLO market. So far through August, the...

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The Five Largest CMBS Loans to Turn Newly Delinquent in July 2018
Blog 1 month ago
The Five Largest CMBS Loans to Turn Newly Delinquent in July 2018

Thanks to the continued resolution of distressed legacy debt and the brisk pace of new loan securitizations, the overall Trepp CMBS Delinquency...

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CMBS Week in Review: Another Firm Shorts Retail-Heavy CMBX Index
Blog 1 month ago
CMBS Week in Review: Another Firm Shorts Retail-Heavy CMBX Index

Secondary trading in the CMBS market was active last week with more than $825 million out for bid. A significant portion of the trading activity...

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The Five Largest CMBS Loan Losses from July 2018
Blog 1 month ago
The Five Largest CMBS Loan Losses from July 2018

Remittance data for July reflected significant write-offs on troubled legacy loans backed by shopping centers and suburban offices. In total, $491...

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