SASB

Investors continue to be bullish on commercial mortgage-backed securities deals backed by single properties or portfolios of assets. 

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

A $1.4bn offering on a portfolio of data centers owned by Blackstone capped a strong week for a surging CMBS market. 

The SASB CMBS deal was sponsored by a Tishman Hotel & Realty and MetLife IM joint venture.

The decline in commercial mortgage-backed securities volume tracks a larger dip in transaction volume. 

Short-term fixed-rate SASB offerings are coming to market despite funding costs remaining volatile.

The asset class is becoming more stable collateral in CMBS deals, says a new Academy Securities report.

The industry association for the commercial real estate finance market is projecting another year of volatility.

A portion of the proceeds of GSMS 2022-ECI, along with about $105 million of subordinate mezzanine financing and another $24 million of sponsor equity, will be used to refinance existing debt.

CIO Tom Buttacavoli believes today’s over-stimulated economy could result in a mild recession in mid-to-late 2023.