Carlyle seals $1 bln White Tower UK property deal
Reuters
UL] has agreed to buy six London offices linked to the failed White Tower commercial mortgage-backed securitisation 2006-3 (CMBS) for 671 million pounds ($1
Carlyle Buys Six 'White Tower' AssetsWall Street Journal

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Reuters UK
Tesco issue signals returning appetite for mortgage bonds
Financial Times
This marks the first UK commercial mortgage-backed security transaction this year in a further sign that capital markets are more readily accepting forms of
Tesco to carry out £950m property securitisationProperty Week News
Fourth Tesco CMBS marketingStructured Credit Investor (subscription)
Tesco eyes benchmark property bond sale -leadReuters UK

all 8 news articles »

Odds Improve For UK Taxpayers' RBS Bet
Wall Street Journal (blog)
Lloyds, on the other hand, is viewed as a one-product bank, specializing in the UK mortgage market. Not exactly a sure thing at the moment.
RBS to Sell Commercial Mortgage Debt, Ending DroughtBusinessWeek

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Commercial Mortgage Debt Rallies as TALF Ending: Credit Markets
BusinessWeek
A $3 billion mortgage on the Stuyvesant Town-Peter Cooper Village apartment complex in Manhattan, the largest loan in the commercial-mortgage bond market,

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Slow return expected for global CMBS market
Reuters UK
LONDON (Reuters) – The market for commercial mortgage-back securities (CMBS) will take many years to return, and will be mostly be confined to

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Lenders advised to focus on commercial mortgage books
Banking Times
The study, entitled “UK Commercial Real Estate Debt – a Two-Tier Market”, claims over half of the outstanding debt is due to mature before the end of 2012

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TwentyFour launches commercial mortgage-backed security fund
Citywire.co.uk
The fund will focus on UK and European debt which was initially rated AAA and AA and has a minimum investment of £5 million. Liquidity is quarterly after an
Selling on detailStructured Credit Investor (subscription)

all 2 news articles »

Halabi Companies Fail to Fix Mortgage Bonds Default
Bloomberg
White Tower is the largest commercial mortgage bond sold by a single borrower to default this year in Britain, which is Europe's largest market and accounts

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UK's CMBS market on shaky ground
Breakingviews
Despite a 43% slump in commercial real-estate prices since mid-2007, asset valuations underpinning much of the UK's £42bn of commercial mortgage securities

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S&P cuts may split CMBS market, not undo TALF – RBS
Reuters
"There are still all sorts of bonds that qualify," Sedmak told reporters after a panel hosted by the Commercial Mortgage Securities Association in New York. But "all you do is bifurcate the market, and let S&P be the factor," he added.