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Volume 2 - Number 11 | June 13, 2005
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TOP STORY: Originators, Issuers Grapple with Reg AB
By Erika Morphy
Regulation AB, a huge set of rules issued by the Securities and Exchange Commission last December specifically for asset-backed securities, is now in its sixth month of a gradual implementation period. Several issuers are currently involved in an SEC pilot project which is widely hoped to iron out various questions about implementation.
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10 Minutes With …Brian Stoffers
By Erika Morphy
Earlier this month CB Richard Ellis announced the creation of a capital markets group that integrated its investment sales and mortgage banking business, L.J. Melody, into a single global platform along with its brokerage units. At its root the driver behind the group's formation was simply client-driven, says Brian Stoffers, who will lead the new group while retaining his title of executive managing director at L.J. Melody.
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Urban Renewal Standout Launches Second Fund
By Benjamin Mark Cole
Shamrock Capital Advisors Inc., an affiliate of the Burbank-based Shamrock Holdings of California Inc.—which invests on behalf of the Walt Disney family—hopes to cap a $150 million fund-raising drive in July for a new real estate investment fund, nicknamed “Genesis II.” The fact that money can be raised for such a fund a second time around is a testament to the success in recent years of urban infill investing, especially in Southern California.
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CMBS Watch: TRIA Extends Reach into New Areas
By Erika Morphy
Representatives from and of the real estate industry have been ticking off the reasons why the possible sunset of the Terrorism Risk Insurance Act at the end of this year would be detrimental to the industry. Indeed, the looming specter of a post-TRIA environment has been finding its way into issues not directly related to terrorism coverage. The latest example? Moody's Investors Service reports it has noticed a trend within a number of recent CMBS deals where caps were placed on the amount of insurance premiums the borrower would pay.
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