JPMorgan gets the casino ball rollina

摘要

JPMorgan's CMBS business is booming, helped by a $960m property loan for Colony Capital's casino assets. The team tell Kathryn Tully how they pulled off the biggest CMBS deal in the gaming industry. The bankers in JPMorgan's commercial mortgage-backed securities (CMBS) origination business know a thing or two about the market. The team was the top bookrunner by volume in the US for the second year running in 2006, lead managing $25.9bn of new CMBS deals. However, when the bank agreed to organise a $960m floating rate loan secured by four casinos for Colony Capital last summer, a few surprises lay ahead.