13.12.2010 - Europe's familiar tale?
From IPE: Amid a great deal of fanfare, Europe welcomed its first commercial real estate collaterised debt obligation (CRE CDO) issue at the end of 2006. The Anthracite Euro CRE CDO, managed by BlackRock Financial Management was warmly received by investors and more deals are likely to flow in 2007. According to a research report from Barclays Capital, citing press reports, possible issuers include US groups Wharton Asset Management, LNR Property Holdings, which is 75%-owned by investment firm Cerberus Capital Management, Wachovia Securities as well as Eurocastle Investment Limited, a euro-denominated Guernsey closed-end investment company managed by US-based Fortress Investment Group..............................................Full Article: Source
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