Topic
CMBS
39 published works
Structured Finance In Brief
CMBS 2.0 IN FOCUS: Liquidity Facilities – the wild child of CMBS 2.0
In the second of a series of blogs, in which we address the evolution of CMBS structural features, we will consider the most (arguably) integral form of credit enhancement for…
Structured Finance In Brief
Just when you thought Deco-ast was clear for special servicer replacements
By Simon Hugo, Nick Brocklesby
If you thought the wrangling over special servicer replacements was over following Richard Snowden QC’s judgment in US Bank v Titan Europe 2007-1 (NHP) plc in April last year, think again.…
Structured Finance In Brief
CMBS 2.0 – Quantum or Solace
Sunday marked the fourth anniversary since Deutsche Bank successfully brought to market Deco 2011-CSPK (“Chiswick Park”). As many market observers will testify, this was a defining moment for the European…
Restructuring Globalview
Commercial Mortgage-Backed Securitization Investors Given “Safe Harbor” Protection
How far do the Bankruptcy Code’s “safe harbor” provisions extend in the commercial mortgage-backed securitization (CMBS) market? Do these safe harbor provisions protect financial institutions that act merely as conduits…
Real Estate Advisor Law Blog
Hotel Financing Seminar
By Brad Kaplan
Please join us for this informative webinar today. If you can not participate you can access the webinar through our sponsor. The link is the title to the webinar. …
Structured Finance In Brief
Clash of the Titan 2007-1
By Simon Hugo
So it’s been just over a year since Fitch issued their press release confirming that as a matter of policy it would not provide rating agency confirmations (RACs) during the replacement…
Structured Finance In Brief
Victoria Funding (EMC-III) PLC: (I can’t get no) Satisfaction
Another day, another CMBS transaction declares an insolvency related event of default (after the REC6 default), this time based on the ‘balance sheet’ event of default. The notice posted by the issuer…
Structured Finance In Brief
Playing with New Toys: How investor guidelines are shaping new CMBS transactions
By Andrzej Janiszewski, Theano Manolopoulou
Last week’s new Debussy DTC/Toys’R’Us CMBS transaction , which we were happily involved in, has sparked media attention as a sign of recovery of investors’ faith in the European securitisation…
Structured Finance In Brief
LORDS 1 – ON A WING AND A PRAYER
In December 2012, Reed Smith’s Structured Finance Team completed the consensual restructuring of £362,452,000 of outstanding debt owed by the London & Regional Group (the property company of billionaires Ian…
Crunched Credit
Day 1: CREFC Sizzles on South Beach
The Loews Hotel buzzed with optimism on the first day of the CREFC January conference, as over 1,300 attendees descended on South Beach. After catching up with many friends, the…