Here is a roundup of the latest leases, sales and other transactions in the Northeast middle markets.
This week by the numbers
Morningstar Credit Ratings says about $3.6 billion in CMBS debt could be affected by the Toys 'R' Us bankruptcy, but many of the properties being used as collateral for mortgage-backed bonds are “in strong markets and conservatively underwritten.” Morningstar says even if Toys 'R' Us terminates leases, the default risk is low. “The $507.6 million single loan securitized in the TRU 2016-TOYS deal is the largest exposure to the retailer,” Morningstar says in a report on the toy stor chain. “Because the loan is backed by 123 Toys 'R' Us and Babies 'R' Us stores combined, geographic diversity mitigates default risk.”
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