Principal Financial joins Macquarie in CMBS bet as sales surge
September 15, 2014 by Madeline McMahon and Sarah Mulholland
(Bloomberg) — Principal Financial Group Inc., the provider of life insurance and retirement products, is joining with Macquarie Group Ltd. in a venture that will make loans and package them into bonds.
The real estate arm of Principal Financial will underwrite, close and service the loans while Sydney-based Macquarie will provide funding, the companies said in a statement today. Australia’s largest investment bank is pushing into commercial mortgage-backed securities (CMBS) market that is rebounding after shutting in 2008. Click here to read…
Originally Posted at LifeHealthPro on September 15, 2014 by Madeline McMahon and Sarah Mulholland.
Categories: Industry Articles