Investors in top-rated bonds backed by commercial real estate debt are facing losses for the first time since the financial crisis. The AAA tranche of a $308 million CMBS note on the 1740 Broadway building in NYC only repaid 74% of the investment, signaling potential distress in the commercial real estate market.
Client note: "Note: Some of you may have noticed that @business is reporting that "AAA" tranches of #CMBS are taking losses. This is bad. The next market "surprise" may be a large default in commercial real estate that the markets and the Fed cannot ignore."
"CMBS Buyers Suffer First Loss on AAA Debt Since Financial Crisis" @markets | Like we said. #CRE is such a marvelous train wreck....
Losses pile up in top-rated bonds backed by commercial real estate debt https://t.co/H6m8etm2Xh
JUST IN: For the 1st time since the 2008 Financial Crisis a top-rated commercial mortgage-backed bond has experienced a loss. Investors of the AAA-rated portion of a $308 million Commercial Mortgage-Backed Security (CMBS) on the 1740 Broadway building in midtown Manhattan got… https://t.co/c874nLwa0K
AAA debt sees losses. Serious (or it was never really AAA). Oh so 2008. Losses Pile Up in Top-Rated Bonds Backed by Commercial Real Estate Debt https://t.co/PeULKzhcbt https://t.co/of0wxJ8TMG
#CMBS AAA taking a loss. Do your credit work. Commercial real estate will be credit pickers market. Will be like resi after 2008…pick up the pieces https://t.co/tuQWEpJ6HP
For the first time since the financial crisis, investors in top-rated bonds backed by commercial real estate debt are getting hit with losses: Here’s your Evening Briefing https://t.co/v2UzdFNUYz
CMBS suffers first loss on AAA debt since 2008 great financial crisis (GFC), thx @BearDave4 https://t.co/sMfSTL4yGx
For the first time since the financial crisis, investors in top-rated bonds backed by commercial real estate debt are getting hit with losses https://t.co/XeboE3zK96 via @markets
Commercial real estate distress is starting to appear in the highest-rated CRE debt. Buyers of the AAA tranche of this $308-million CMBS note on a Manhattan skyscraper were only paid back 74% of their investment. All the lower-tranche creditors got smoked, 100% loss. https://t.co/bnWKZ5wIe1
'For the first time since the financial crisis, investors in top-rated bonds backed by commercial real estate debt are getting hit with losses.' https://t.co/7VfVPsez5t
“These losses may be a sign that the commercial real estate market is starting to hit rock bottom.” For the first time since the 2008 financial crisis, investors in top-rated bonds backed by commercial property debt are getting hit with losses. https://t.co/tBAvEvG2hj
First loss on an AAA-rated slice of a CMBS deal since 2008 right here - backed by 1740 Broadway in NYC. https://t.co/sAJrrQmyKV by @ArroyoNieto & @natalexisw https://t.co/gucXVnkXQz
"Losses Pile Up in Top-Rated Bonds Backed by Commercial Real Estate Debt" https://t.co/H2eMCn3rWy via @markets
Losses Pile Up in Top-Rated Bonds Backed by Commercial Real Estate Debt https://t.co/pVbZFayKUG
Losses Pile Up in Top-Rated Bonds Backed by Commercial Real Estate Debt - BBG https://t.co/W7eMhfmE91
For the first time since the financial crisis, investors in top-rated bonds backed by commercial real estate debt are getting hit with losses https://t.co/nSEElMR9Y9
CMBS Buyers Suffer First Loss on AAA Debt Since Financial Crisis Top bonds backed by loan for 1740 Broadway in NYC repaid 74% Industry analysts warn of more pain to come in safest CMBS By Carmen Arroyo and Natalie Wong @natalexisw #CMBS #CMBX #CRE #AAAlosses https://t.co/o9OoCUTaGh
CMBS Buyers Suffer First Loss on AAA Debt Since Financial Crisis @business #CMBS @DiMartinoBooth ▪Top bonds backed by loan for 1740 Broadway in NYC repaid 74%. ▪Industry analysts warn of more pain to come in safest CMBS