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Volume 3 - Number 5 | March 13, 2006
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TOP STORY: Consortium Launches CMBX
By Erika Morphy
A new index specifically designed to trade CMBS-based derivatives could significantly drive liquidity and facilitate trading, industry experts predict. Earlier this month, a consortium of 16 investment banks and a worldwide provider of market-to-market pricing and valuations launched CMBX, a synthetic index of US commercial mortgage-backed securities.
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Behind The Deal : Profiting From Rising Interest Rates
By Benjamin Mark Cole
Newcastle Investment Corp. expects to benefit from rising interest rates with the purchase of a $1.5 billion portfolio of subprime home mortgages, nearly at par. But some analysts question whether the benefits balance the risk.
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Ten Minutes with . . . Jones Day’s Steven Teitelbaum
By Erika Morphy
It has been eight months since the US Supreme Court handed down its now infamous Kelo v. the city of New London decision. In it, the Supreme Court upheld--by a 5 to 4 vote--a state’s right to seize private property for development. While these measures may be popular with voters, they are not necessary, according to attorney Steven Teitelbaum, a partner in the Washington, DC law offices of Jones Day.
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Insider: BentleyForbes' s James Kasim
By Benjamin Mark Cole
When Los Angeles-based BentleyForbes needed hospitality sector experience and investment knowledge, it turned to James Kasim. The commercial real estate investment and operations company named Kasim chief financial officer last year. D&E Journal asked Kasim his thoughts about the hotel sector, which has shown steady improvement in the past two years.
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