Below are press releases from companies with preferred stock and baby bonds outstanding. Additionally, news of a more macro economic importance may be posted.
Earnings season is over for now and not much news is being posted by company’s that are of interest so for the next 6-8 weeks postings will be relatively lite.
June 02, 2025 07:30 ET | Source: Stifel Financial Corporation
Stifel Completes Acquisition of Bryan Garnier
June 02, 2025 07:00 ET | Source: ConnectOne Bancorp, Inc.
ConnectOne Bancorp, Inc. Completes Merger With the First of Long Island Corporation
June 02, 2025 16:09 ET | Source: Arbor Realty Trust
Arbor Realty Trust Closes Landmark $802 Million Collateralized Loan Obligation Securitization
June 02, 2025 06:30 ET | Source: Hyperscale Data, Inc.
June 02, 2025 16:15 ET | Source: XAI Octagon Floating Rate & Alternative Income Trust
XAI Octagon Floating Rate & Alternative Income Trust Declares its Monthly Common Shares Distribution of $0.070 per Share
— I wonder who or what insurer or ETF ends up buying this Arbor CLO and under what obscure “issuer name” the CLO will be issued.
— Since its getting difficult to buy new houses, looks like rentals are the next hot investment, again.
— I don’t know how these CLO deals are structured but I do get worried when I see words like “construction loan”, “unique” and “includes 200 million note to fund construction” in the same paragraph. Unstated: also includes an implicit bet on interest rates and a stable economy. IMHO, quite a lot can go wrong here.
— Wasn’t the pitch to retail investors on CLO’s that the CLO bundles were made up of packages of secured senior loans from seasoned businesses? JMO. DYODD.
“The Securitization is unique in including loans secured by build-to-rent properties in various stages of horizontal and vertical construction. Construction loan advances will be funded, in part, by the issuing entity and, in part, by an Arbor affiliated holder of participation interests in the mortgage loans.”
Bear, Just reading what you copied makes me uneasy. Multiple entities involved each taking their cut, once they get their share they are out of the picture. Who is left holding the loan and responsible for payment if the construction is not finished or even if it is standing what happens if they have tenants who back out or they can’t even find renters?
This isn’t a cornfield somewhere that if they build it they will come? Are not some sections of the country showing signs of a housing glut?
Hi Charles,
An acquaintance who is not in the US, but wants to invest in some US housing projects asked me last week about whether she should worry about a low end housing glut because of the falling (illegal) immigration rate and the rising number of deportations (voluntary and otherwise).
I told her I have no idea and that I don’t give that kind of advice, but it is an interesting thought to consider.
As you know, low-end (low quality) housing construction is booming in the SF bay area. Not sure where it leads, but i read that a lot is set aside as gov. subsidized housing. With the budget pressures (federal and state), it could be yet another mess for us taxpayers to clean up (while our idiot governor Newsom declares it a victory as he lines up to run for president).
Bear,
I think “CLO” is becoming a buzzword that is detached from its original meaning. Putting CLO in an investment document makes the product sound cool to the issuer’s target audience. So overused it is becoming meaningless.
Kind of like “AI”. Everything has to use “AI” in its marketing to be considered “chic and trendy”. My daughter sent me an ad for an AI toaster the other day.
whats next? AI chewing gum? CLO seats at the craps table?
Private, how about the over used term “gluten free” as in a label on organic apple juice.
Tell your friend to look at smaller commercial property in exclusive towns. Say like San Carlos for example. Bay on one side and mountains on the other limits available properties. Get a good tenant like a roofing contractor.
Two properties where I am at, both landlords passed on and left business to the family. Both families want out. The one family has multiple properties and said between the residents and state, county and city laws they want to get rid of the residential and add to the commercial or sell and divide the money up between the family.