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The fate of six Macy’s locations in Western Pennsylvania is unknown after the company announced Tuesday it will close 150 stores over the next three years, with 50 closing by the end of 2024. The department store chain hasn’t named specific locations or states where it will shutter underperforming stores.
CRE CLO issuance almost doubled in the first quarter of 2022, according to recent CBRE data, driven by debt fund activity
Investor Demand Intensifies for SASB, Floating-Rate CMBS “You have investors like sovereign wealth funds coming in and taking the entire stack,” says one industry insider. Bond investors are hungry for CMBS, and they’re gobbling up entire tranches, from the top of the credit stack to the bottom. But they have a picky palate—they’re not interested in pandemic-weakened property types. “Demand is terrific,” said Manus Clancy, senior managing director at Trepp LLC. “With interest rates so spectacularly low, CMBS is one area where investors can still get some spread over the...