banks

One lesson learned from the global financial crisis was that there needs to be a strict chain of control over cash management accounts.

The Federal Deposit Investment Corp seized the bank and sold control of it to JPMorgan on May 1.

MetLife, PacLife and Bank ABC were also part of the syndicate for the SL Green-owned property.

New York Life Insurance Company and MetLife Investment Management funded the loan. 

The platform aims to provide senior debt solutions for borrowers focusing on transitional properties in key growth markets.

One-third of the maturing loans were made by CMBS lenders a decade ago; the report also finds transaction volume in February plunged from the previous year.

Should the CMBS market be used to resolve potential problems at regional banks, there are questions about how this could play out, however. 

Atop its standard strategy, the firm is looking to potentially invest in the rescue capital space later this year. 

SVP and head of RE strategy Richard Hillsays CMBS market could play a role in ameliorating potential problems.  

The firm is watching central bank activity across markets closely as well as recession indicators.