Top AAA-rated bonds have been tarnished by the Blackstone office deal blow-up, impacting bondholders. Blackstone faced losses on properties like 1740 Broadway and pointed to minimal US office exposure. Concerns arise about future CMBS losses and deep losses hitting AAA-rated SASB bonds.
More CMBS losses ahead? JPM: "Currently, there are a handful of originally AAA-rated SASB bonds trading to distressed levels implying deep losses hitting these deals"
‘Worst’ yet to come for commercial real estate: Conference Board | CFO Dive #CMBS https://t.co/Mbe6hXh7WP
Blackstone takes a bath on 1740 Broadway, gets salty and points to its minimal US office exposure. Meanwhile, AAA bondholders are sad. CIM takes a 🛀 on 1440 Broadway, but it's the Aussie pension fund QSuper that will shed the tears. This & lots more on today's Lots More 👇 https://t.co/MjkX6F57cp
Bulletproof to bust: Top AAA bonds tarnished by a Blackstone office deal’s blow up https://t.co/2JZ66g9jxz
Top AAA-rated bonds tarnished in Blackstone office deal’s blow-up https://t.co/fNGsMWxut1
Bulletproof to bust: Top AAA bonds tarnished by Blackstone office deal’s blow up. Scoop from @JoyWiltermuth https://t.co/Kpjl05kiFL