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Thursday, 28 April 2016

$113.5Mln CMBS Loan Against Chicago's Sullivan Center Gets Defeased

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Commercial Real Estate Direct Staff Report

The $113.5 million of CMBS debt against Chicago's Sullivan Center has been defeased, according to Kroll Bond Rating Agency.

The action, which involves replacing a loan's collateral with risk-free government securities, would be a positive credit event for the two CMBS transactions that hold pieces of the loan, WFRBS Commercial Mortgage Trust, 2013-UBS1, which holds a $75 million piece, and WFRBS 2013-C18, which holds a $38.5 million piece. Indeed, Kroll, which rates the UBS1 transaction, said it had placed the AA- rating on the deal's class B on Watch Upgrade, meaning the class is likely to get upgraded following a full review of the entire deal's collateral pool.

Sullivan Center is a 943,944-square-foot office building, which includes some 200,000 sf of...





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“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

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Additional Info

  • Syndicate to Realpoint: No
  • Cities: Chicago
  • States: Illinois
  • Sector: Office
  • Subject: Commercial MBS (CMBS), Mortgages/Financing (MOR)
  • Private: Yes
Read 1236 times Last modified on Monday, 09 May 2016

Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44

 

RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41

 

 

 

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