Russian Invasion Slows CMBS Deals, Beachwold Completes $302 Million Apartment Refinancing, JPMorgan Prepares Macerich Mall Deal

Russian Invasion Slows CMBS Deals: The issuance of new private commercial mortgage-backed securities has slowed as a result of the intensifying geopolitical conflict arising from Russia’s invasion of Ukraine, according to analysts. Not only did the few recent deals price at wider spreads compared to similar deals the prior week, but final pricing spreads were notably wider versus their guidance, according to commentary from Alan Todd, CMBS strategist for Bank of America Securities. Widening the spread between bond prices and 10-year Treasury notes hurts the price of private bonds as investors see more risks in the offering compared to government bonds.