Commercial Mortgage-Backed Security


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Commercial Mortgage-Backed Security

A mortgage-backed security in which the mortgages on commercial building, offices, factories, apartments, and other buildings other than single-family homes collateralize the security. Unlike most other mortgage-backed securities, the structure of a CMBS is not standardized and as a result, it is difficult to assess its risk. It is also called a collateralized mortgage-backed security.
References in periodicals archive ?
18 October 2013 -- Pricoa Mortgage Capital provided EUR 240m of funding for Dutch parking facilities owner Q-Park's refinancing of a EUR 300m commercial mortgage-backed security.
US KeyCorp (NYSE:KEY) said it had agreed to acquire certain commercial mortgage servicing rights from Bank of America Corp (NYSE:BAC), or BofA, as well as Berkadia Commercial Mortgage LLC's commercial mortgage-backed security (CMBS) special servicing business for an undisclosed amount.Country: USASector: Banking/Financial ServicesTarget: Certain commercial mortgage servicing rights of Bank of America, Berkadia Commercial Mortgage LLC's CMBS special servicing businessBuyer: KeyBank Real Estate Capital, KeyCorp Vendor: Berkadia Commercial Mortgage LLC, BofA's Global Mortgages & Securitized Products business, Bank of America Corp Type: Corporate acquisitionStatus: AgreedBuyer advisor: KeyBanc Capital Markets Inc
The plaintiff is Collins Lodging, which represents a commercial mortgage-backed security serviced by LNR Partners, a Miami Beach property investment firm.
The fixed-rate, $130 million commercial mortgage-backed security (CMBS) loan was provided to 700 South Flower LLC for refinancing purposes, according to Tim Campbell, GE Real Estate's regional director in the North America Debt Group.
Fitch noted that it had again extended its highest rating to GMACCM based on its "highly experienced senior management team and the company's strong emphasis on technology, extensive employee training and commitment to add staff in the anticipation of rising defaults." GMACCM is currently named special servicer on 129 transactions with a balance of more than $58 billion, according to the company, and as of June 1, 2001, it was specially servicing 102 commercial mortgage-backed security (CMBS) assets totaling $642.2 million.

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