Late last month, inter-dealer brokers began using SOFR for dollar swaps, allowing ARRC to finally recommend use of Term SOFR. 

KinderCare is the largest for-profit childhood education provider in the country. The CMBS is being issued by National Realty Trust, which received a mortgage on 549 properties where KinderCare operates.

A mutual fund giant wants to convert Capstead’s cash base into commercial assets, leaving the residential world behind. The goal: higher returns for investors.

If hotel properties are excluded, average NOI declined only 0.7% last year, according to Fitch Ratings.

Blackstone Real Estate Partners and Starwood Capital will be using proceeds from the mortgage loan to acquire Extended Stay America’s portfolio, fund working capital and pay closing costs.

The New York Supreme Court’s Appellate Division said the continuing nature of the alleged harm defeated the state’s six-year statute of limitations for breach of contract claims.

Demand has been booming for single-family rental properties over the past year. Amherst Residential saw an 85% year-over-year increase in applications for rental homes.

Loans backed by hotel and retail properties, which have been hit particularly hard by the pandemic, will be difficult to refinance, the rating service said.

The secondary market is active this spring with an MBS backed by MH communities, plus Ginnie EBO activity remains brisk. Selling more NPLs: Fannie Mae.

There were pockets of strength in the income-property securitization market, including financing on office properties, mixed-use projects and single-family rentals. But total CMBS issuance fell from the all-time record level set in the fourth quarter of 2020. (Includes data chart.)