Member News

Member News
21
May
According to a story by Lois Weiss of the New York Post, 100 Wall Street has been sold for $275 million, or $528 per square foot, to Cornerstone Real Estate Advisors. The property backs a $115.8 million loan that makes up 6.3% of LBUBS 2007-C6. For CMBS investors, the takeaways are that the credit enhancement for the deal will improve and that the loan can prepay freely now, 13 months before its June 2016 maturity date. The article states that the deal will close this summer.
The A-4 bond will be...
21
May
For various reasons, relating to the typical Italian SMEs nature and to the market structure, the financial requirements of Italian SMEs have traditionally been satisfied by bank financing. Law decree No. 83 of 2012 (“Development Decree”) marks an attempt to provide an alternative source of financing for SMEs, through recourse to the debt capital market. The Decree has expanded the opportunities to resort to capital market for Italian privately held companies, taking away restrictions set forth by corporate law...
21
May
Last week, we looked at the requirements for apps submitted to the Apple App Store. In this week’s post, we review the licence agreement and the various legal obligations placed on app developers. These obligations also create potential pitfalls in the development and publication of apps, including around the app terms, the app’s use of location services and general compliance with local laws.
Requirements in the license agreement
Aside from the Apple review guidelines, app developers are also subject to legal...
20
May
NEW YORK, NY- DS-Concept USA, a leading provider of international trade finance to the small and mid-market, has appointed Bryan Maloney to oversee business development activities in the western region of the US. As the Vice President of Business Development for DS-Concept USA, Bryan is based in Los Angeles and specializes in structuring supply chain finance and factoring programs for small and middle market companies globally.
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DS-Concept Pakistan Announces $50 Million in Recent Transactions
Karachi, Pakistan- DS-Concept Pakistan has announced $50 million inclosed...
18
May
According to May remittance data received late last week, the $38.95 million The Mill loan was sent to special servicing. The loan is backed by a 111,393 square-foot office in Greenwich, Connecticut. The note makes up 1.2% of the collateral behind JPMCC 2007-LD11.
When the loan was securitized in 2007, the office property was 100% occupied. As of 2013, it was 91% occupied. However, the occupancy rate fell to 70% in 2014, and the DSCR dropped with it. The DSCR was 1.09x in 2013, but that...
16
May
Apps are frequently rejected for failure to comply with app store legal rules. This can happen at the initial app approval stage, or even later after the app is up and running. These legal rules are set out in the app store guidelines and various legal documents. It is crucial not to forget these when developing an app.
This post highlights some of the Apple App Store guidelines and requirements that app developers should keep in mind. Next week, in...
13
May
The CMBS market faded in tandem with stocks on Tuesday. US equities opened the day sharply lower after a sell off of European stocks. After fighting back over the course of the day, US stocks ended with only modest losses. The S&P 500 was off 0.29%.
CMBS spreads moved wider on another busy day. About $400 million was out for bid as spreads among legacy super seniors and new issue AAAs moved out a basis point or two. A big block of GSMS 2007-GG10 A4s...
12
May
Spies and spycraft fuel the imagination with intrigue—whether it’s the world’s fascination with a fictional James Bond or with a real-world Edward Snowden.
Today, Foreign Policy released the May/June issue, diving into the issues behind today’s “Golden Age of Surveillance” and exploring what espionage means to global security.
In this 88-page Spy Issue, FP writers and contributors examine the spy game in the 21st Century as “nations expend vast treasure and take extreme risks to root out secrets.”
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