capital markets

With recovery underway in the US hotel sector, securitisation activity is gradually picking up in select sub-sectors – albeit with more conservative underwriting.

The real estate manager has hired Isabelle Brennan from M&G and Michelle Liu from CIT to expand its debt platforms on both sides of the Atlantic.

Martin McGann, finance director of the UK logistics REIT, says the company’s latest financing diversifies its funding sources and provides long-dated capital.

As retail and office sectors trend toward volatility, the steady returns of sale-and-leaseback strategies are becoming attractive fixed-income substitutes.

The follow up to KKR’s 2017 fund will continue to focus on junior tranches of commercial mortgages.

Retail icons are being toppled, spelling major trouble for US shopping malls as a cascade of defaults looms.

Ratings agency S&P expects the delinquency rate to climb higher for June, although European CMBS are so far weathering the storm.

Last month’s real estate debt fire sales at the outset of the covid-19 outbreak in the US were just the tip of the iceberg for private real estate.

Coronavirus shutdowns have pushed nearly $25bn of US CMBS loans to the brink of delinquency, and the worst is yet to come.