http://gdmig-reitwrecks.com/2008/08/what-is-securitization.html High Yield REITs And Commercial Real Estate Wed, 30 Apr 2014 22:24:37 +0000 hourly 1 https://wordpress.org/?v=4.2.30 http://gdmig-reitwrecks.com/2008/08/what-is-securitization.html#comment-93 Tue, 09 Mar 2010 23:59:39 +0000 http://reitwrecks.com/wordpress/?p=105#comment-93 […] Credit Suisse analysts reported that the Weston loan is split between two JPMorgan-issued CMBS deals. J.P. Morgan Chase Commercial Mortgage Securities Trust 2008-C2, the more recent of the two deals, is heavily exposed. That trust’s portion of the defaulting Westin loan represents 8.9% of the total collateral pool. Unfortunately, the bad loan on the Promenade Shops is also the largest loan in the same pool, representing fully 10.7% of the collateral. This means two of the top-ten largest loans in the pool, representing almost 20% of the collateral, are about to default. Investors in all but the most senior tranches of this issue are now facing huge losses as remaining cash flows are diverted to those who occupy higher ground (see the post “What is Securitization” for more detail on how subordination impacts Mortgage REITs). […]

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