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.)

Advanced Flower Capital Gamma went public in March. The REIT provides first-lien loans to cannabis companies and it’s generating healthy returns.

An asset manager based in Toronto agreed to acquire Annaly’s commercial business. The REIT will put an even greater emphasis on its investments in residential MBS.

FoAM sees a growing potential in HECM securitizations and is expanding its menu in the space. Meanwhile, its SPAC/IPO has been green-lighted for early April.

There was a time when REITs had no problem pitching secondary offerings of stock but the pandemic ended all that. Enter Dynex Capital...