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Refinancing
The Washington DC-based agency says the sector is a salient near-term risk to global financial stability.
Noteholders in the retail-focused securitisation will vote on the proposal later this month.
The Bank of England has warned global falling property values could lead to losses for creditors, echoing concerns shared by the European Central Bank.
The insurance company lender has provided a loan against Get Living’s New Maker Yards in Salford.
The sponsor – developer the Moran Group – attempted to sell one of the assets, the Rockpoint apartment complex, last year.
The vice-president of the European Central Bank said alternative debt providers are of greater concern than traditional lenders.
The bank has provided a £46m loan to South Korean managers Kiwoom Securities and Hana Securities.
The three-year facility to developer Princeton Investments has been originated at 60% LTV.
The Chicago-based manager has provided a €70m facility to developers Amro Partners and Falco Capital.
In its latest research, the manager forecasts a 7.5% default rate across loans originated during 2018-21.