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Lee & Associates Ditching Madison Avenue for Third Avenue

Commercial Observer - 2/15/2019
Commercial brokerage Lee & Associates NYC will move its Manhattan headquarters from Madison Avenue to 845 Third Avenue, Commercial Observer has learned. Lee NYC signed a five-year sublease with Kroll Bond Rating Agency (KBRA) for 26,000 square feet on the fourth floor of the 21-story 845 Third Avenue between East 51st and East 52nd Streets, brokers on the deal said.
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KBRA sees mixed ABS movement in January

Auto Remarketing - 2/14/2019
NEW YORK - This week, Kroll Bond Rating Agency (KBRA) released its auto loan indices for of January, highlighting that credit performance was mixed across securitized auto loan pools. Analysts noted that annualized net losses in KBRA’s Prime Auto Loan Index for January fell 1 basis point month-over-month to 0.69 percent, while 60-plus-day delinquencies rose 2 basis points to 0.50 percent. 
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RAC, CIG each return for second round of subprime auto ABS

Asset Securitization Report - 2/14/2019
Two subprime auto lenders are making their second trips to the securitization market. RAC Dealership LLC, the used-car leasing specialist doing business as American Car Center, is offering $174.5 million in notes backed by the contract receivables and the future resale values of newer-model vehicles it financed through its network of company-owned stores. The ACC Trust 2019-1 transaction comes a year after RAC’s first-time securitization.
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Citi Lends $90M on Redeveloped Pace Gallery Building in Chelsea

Commercial Observer - 2/13/2019
Citi Real Estate Funding has provided New York-based Weinberg Properties with a $90 million first mortgage to refinance a recently constructed mixed-use building in Chelsea that’s now home to Pace Gallery, according to a Kroll Bond Rating Agency CMBS presale report released last week.
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