CMBS

The index was at 23.71% in July, compared with 23.25% in June and 22.91 percent in May.

Andrew Smith will focus on expanding the Florida manager’s credit platform as it plans fund launch.

The Miami-based national real estate lender also brought on an undisclosed wealth advisory firm in its first commitment of this kind.

The bottom line is that directionally, lenders and borrowers have more confidence in the Federal Reserve’s progress on inflation and a softening economic backdrop.

A group of lenders including Wells Fargo Bank, Bank of America and Deutsche Bank is providing a $620m acquisition commercial mortgage-backed securities loan.

The funding will be used to recapitalize luxury 3ELEVEN tower south of Manhattan’s Hudson Yards.

The financing on the portfolio will be used to refinance existing debt.

The sponsors passed another milestone after acquiring the landmark hotel in a record transaction. 

The firm’s credit platform manages whole loans, Freddie Mac products, preferred equity investments and mezzanine loans.

Robert Neighoff, a portfolio manager at Mariner Investment Group, is tracking opportunity in new issue conduit and SASB paper.