Finance CMBS
Freddie Mac Prices New $4 Billion Five-Year Reference Notes Due 2013
May 22, 2008

Freddie Mac has announced that it priced its new 3.750 percent $4 billion five-year USD Reference Notes security due on June 28, 2013. The issue, CUSIP number 3137EABM0, was priced at 99.991 to yield 3.751 percent, or 69 basis points more than five-year U.S. Treasury Notes. The issue will settle on May 23, 2008. The new five-year Reference Notes security was offered via a syndicate of dealers headed by Banc of America Securities, J.P. Morgan Chase and RBS Greenwich Capital. An application was made to list the issue on the Euro MTF market of the Luxembourg Stock Exchange.

 
Recent CMBS Headlines
U.K. Shows New Initiatives, Europe Increases Coordination of Bailout
Oct. 13, 2008
Following an emergency summit Sunday in Paris, the 15 countries of the Euro zone agreed to guarantee new bank debt until the end of next year. The move will let governments prop up struggling banks by buying preferred shares.
As Global Bailout Efforts Increase, All Eyes on Washington
Oct. 10, 2008
Even as nonstop efforts continue around the globe to contain the worldwide financial-credit crisis, there’s a sense of anticipation as the Group of Seven finance ministers and central bank heads meet in Washington starting today.
CSV Acquires $214M Mezzanine Loan on Hotel Portfolio
Oct. 06, 2008
Carlton Group has reported that Carlton Strategic Ventures, CSV, the principal investment and merchant banking group of the Carlton Group, has acquired a $214 million participation in the M7 mezzanine loan tranche on the Extended Stay Hotels portfolio. The M7 loan tranche is a senior mezzanine level tranche with over $1 billion of subordinate debt and borrower equity. The M7 mezzanine loan is part of a $7.4 billion financing provided by Wachovia Bank, Bank of America, Merrill Lynch, and Bear Stearns to fund the acquisition of Extended Stay Hotels Inc. by the Lightstone Group in June 2007.
Ciena Capital Seeks BK Protection
Oct. 01, 2008
Allied Capital has announced that Ciena Capital L.L.C., a portfolio company of Allied Capital, has voluntarily filed for bankruptcy protection.
Hoeffel Joins Investcorp as Managing Director
Sept. 25, 2008
Christopher Hoeffel joined Investcorp's United States-based real estate team as managing director with responsibility for its debt investment business.
 

 

Will California's Fiscal Pain Spread to Commercial Real Estate?
October 13, 2008
By: Eugene Gilligan, Senior Editor --California's looming fiscal crisis is likely to take its toll on the state's commercial real estate sector. The credit freeze-up had deprived California of up to $7 billion in short-term financing necessary for day-to-day operations....

From CPN's Morning Newsletter-- Columbus Day Discovery: Global Recapitalization
October 13, 2008
By: Tom Dworetzky, News Editor --As CPN reported exclusively in our Daily News REport Morning Edition (subscribe here), with a shoutout to Bette Davis, it's been a bumpy weekend. First off, is it just us, or does recapitalizing every bank...

ProLogis Takes 300,000 SF Feet near Tokyo
October 13, 2008
By: Tom Dworetzky, News Editor --ProLogis Japan Properties Fund II has acquired a $65 million portfolio near Tokyo, it has reported. The deal includes three buildings totaling 300,000 square feet, all fully leased to three separate Japanese companies, located in...

Bush Meets with G-7, Speaks of Crisis
October 13, 2008
By: Tom Dworetzky, News Editor --President Bush spoke to the public from the Rose Garden Saturday after meeting with financial ministers from the G-7 nations. Bush met with Treasury Secretary Henry Paulson, Secretary of State Condoleezza Rice and finance ministers...

Financial Market Update: After the Bell -Friday, Oct. 10
October 10, 2008
By Dees Stribling, Contributing Editor -- Investors usually pay lip service to long-term investing, but in times of crisis the reality is sell - everything - now! Panic was the order of the day on Wall Street, which saw the...

Management Matters with Mike Myatt: Are Recruiters Effective?
October 10, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Sourcing tier one talent is an issue for all businesses. I was recently asked if recruiters are effective, or if they're worth the investment. Since my firm has a talent management practice which...

Management Matters with Mike Myatt: Partisan Politics Not Always Bad
October 03, 2008
The truth about partisan politics is that contrary to public opinion, it's not always a bad thing. Likewise, bipartisan efforts don't always reflect altruistic behavior and selfless acts. From my perspective, it isn't necessarily the stance you take, but rather...

Management Matters with Mike Myatt: Facing Up to Rogue CEOs
September 26, 2008
By: Mike Myatt, Chief Strategy Officer, N2growth --Rogue CEOs. Given the recent failures of banks and financial institutions previously thought to be untouchable, there has been a tremendous amount of justifiable venom being spewed at the CEOs of these firms....

When to Consider Corporate Restructuring
September 19, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Times are tough, and they're likely to get tougher, so my question is this; Should you, or should you not, consider a move toward corporate re-engineering? Whether directly or indirectly, your business will...

Expectation Alignment Key to 'Promise Management'
September 05, 2008
by Mike Myatt, Chief Strategy Officer, N2growth --The art and science behind making commitments and managing expectations has always been a critical skill set for senior executives and entrepreneurs to master. In fact, understanding how to come out on the...