TRD Insights: These metro areas are seeing the most CMBS loan distress

first_imgTagsCoronavirusHotelsRetailTRD Insights From top: Los Angeles, Minneapolis, Chicago and New YorkThe coronavirus pandemic has thrown tens of billions of dollars in commercial-mortgage backed securities debt into special servicing, and even more loans have fallen behind on their monthly payments.The economic impact of shutdowns and social distancing has hit some sectors far more than others, and the geographic distribution of distress has also been uneven, as a new report from Trepp shows.The New York City metropolitan area, an early epicenter of the U.S. outbreak and home to much of the country’s priciest real estate, has unsurprisingly seen the biggest impact in terms of monetary value, with $6.8 billion in delinquent CMBS loans. Apart from countless hotels and retail properties, CMBS loans on other types of assets, like the ground under an office building and a corporate rental apartment building, have also run into hard times.ADVERTISEMENTThe next most impacted market is the Chicago metro area, with $2.2 billion in delinquent loans. While that’s less than half of New York’s total balance, the delinquency rate in Chicago is twice as high, with nearly 14 percent of the area’s total CMBS debt currently delinquent.Minnesota’s Twin Cities area comes in at number three with $1.8 billion in delinquent CMBS debt, the bulk of which comes from just one loan: the $1.4 billion loan on Triple Five Group’s Mall of America, which is more than 60 days delinquent and has been transferred to special servicing.Among top markets, Houston’s hotel sector — facing the double whammy of coronavirus and falling oil prices — has been among the hardest hit, with more than 60 percent of its hotel CMBS debt now delinquent, compared to about 40 percent in New York and less than 24 percent in Los Angeles. The city’s office sector is also struggling, with almost 14 percent of office CMBS debt in delinquency, far more than any other metropolitan area. Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlinkcenter_img Share via Shortlinklast_img read more

Read More »

Tenchu: No prescription needed

first_imgTenchu: No prescription neededWhy I Love: Solar Sail’s Tancred Dyke-Wells finds freedom in an overshadowed PSone ninja gameTancred Dyke-WellsTuesday 8th May 2018Share this article Recommend Tweet ShareCompanies in this articleAcquireFromSoftwareWhy I Love is a series of guest editorials on GamesIndustry.biz intended to showcase the ways in which game developers appreciate each other’s work. This entry was contributed by Solar Sail Games co-founder Tancred Dyke-Wells, who used to direct Nintendo’s Art Academy and Battalion Wars games, and is currently at work on the open-world narrative-driven RPG Smoke and Sacrifice.I can’t claim this was the moment I fell in love with Tenchu: Stealth Assassins because I’d already fallen for that game pretty hard by this point, but there was a certain moment – an incident – which roused me to howls of rage and swearing so colourful I surprised myself and burned this game indelibly into my experience.It was 1998; I’d only been in the industry a couple of years at that time, working on a sim/point-and-click adventure hybrid, BiOSys. That game was pretty far removed from Tenchu, a seminal stealth game created at the height of the PS1 era by Japanese development house Acquire, (the license subsequently acquired by From Software).The game lacked the production values of the contemporary stealth blockbuster Metal Gear Solid, but also the prescription – and so for me it was something special.What Tenchu lacked in production values it made up for in player freedom. (Images pulled from playthrough by YouTube user Miliens0fKills)Featuring a distinctive original soundtrack from Noriyuki Asakura which fused Western pop with Chinese, Thai, Japanese and even Arabic influences, the game wore its musical charisma brazenly. The soundtrack was acoustic, vocal (in West African Hausa!) and unashamedly prominent – the antithesis of the forgettable scores that characterise contemporary action movies (and often sadly, AAA games). Voice acting was similarly bold, Seiichi Hirai and the rest of the cast dividing audiences with unabashed overacting. But love it or hate it, few games are so quoted. “It looks like you chose the wrong party to crash…!”Anyway, I’d fought and failed to kill Onikage before, ninja grappling and stealth-killing my way to the top of the castle at the end of Level 9 to do so. Tenchu’s bosses were not the rock-hard exercises in suffering that current IP holders From Software’s oeuvre is known for, but the arrogant bastard fought bare-handed, and his double spin kicks dealt a lot of damage.I’d seen that he could use his own health potions, and I’d also discovered that it was possible to lure or knock (or more likely be knocked by) him outside the rooftop that at first appeared to be the designated fight zone. One fight had carried on right down the stairwells of the castle. This in itself was flabbergasting, a boss fight not being confined to an arena. And it reflected the openness that made the game a stand-out experience.But what really had me screaming at my cathode ray TV was when, worn down by the fight and mid-way through attempting to consume a health restorative of my own, he’d kicked it from my hands, and then shortly afterward snatched it from the floor and guzzled it himself! The temerity!The Okinage fight could spill out of the main fighting area and onto the rooftops. (Images pulled from playthrough by YouTube user Miliens0fKills)This was an unscripted moment. Onikage was just an AI agent driven by a state machine that allowed him to share some actions with the player. Giving him these abilities may even have been a development economy over creating more bespoke actions for the character.”Tenchu’s grapple could be used on any surface, not just predefined points. The game seemed unafraid to allow the odd glitch in order to maximise player freedom” But this application of a seemingly consistent ruleset between the player and AI characters – that they could take up and use my own tools against me – was, for me, deeply compelling and something rarely seen since. The even-handedness conjured up the feeling of a world that felt alive, with internal consistency – somewhere with a sense of possibility.This was a little before true open-world, sandbox games such as Outcast and Grant Theft Auto III would appear. Ocarina of Time was the darling of the moment, and while I could appreciate the elegance of that game’s design, at some level I couldn’t help feel that my play experience was likely to conform very closely to that of other people. Dare I say it, at times it felt like an exercise in beautifully-refined hoop-jumping – a shepherded, predetermined experience – and all that breaking pots in people’s houses just didn’t give me the feeling of a living world.Similarly Metal Gear, honed and polished as it was also for me lacked the feeling of an internally coherent world. Rooms would reset on exit and entry, alerted guards instantly becoming oblivious to your presence on stepping in or out of a door. The illusion broke easily.But Tenchu’s enemy layouts varied with each attempt and characters could pursue you from one end of the map to the other – the weapon selection on offer (smoke bombs, caltrops, poison rice cakes, grenades, mines, coloured rice) seemed to offer and encourage experimentation.Emblematic of its overall design philosophy, its grapple could be used on any surface, not just predefined points. The game seemed unafraid to allow the odd glitch in order to maximise player freedom.Twenty years on, this attitude still informs my own approach. With Smoke and Sacrifice, we’re melding an organic, open world with rich, crafted storytelling. For me, the ideal game experience finds that sweet spot where meaningful emotional engagement is brought together with the freedom to experiment and set your own goals – but most importantly, in a world that feels alive.Upcoming Why I Love columns:Tuesday, May 22 – Sperasoft’s Steven Thornton on Portal 2Tuesday, June 5 – Over the Moon Studios’ John Warner on Dark SoulsTuesday, June 19 – Infinite State Games’ Mike Daw on Bubble BobbleTuesday, July 3 – Infinite State Games’ Charlie Scott-Skinner on Monster HunterDevelopers interested in contributing their own Why I Love column are encouraged to reach out to us at [email protected] employer excellence in the video games industry8th July 2021Submit your company Sign up for The Daily Update and get the best of GamesIndustry.biz in your inbox. Enter your email addressMore storiesSony now has a stake in parent of Dark Souls dev From SoftwarePlayStation firm forms ‘capital alliance’ with Kadokawa Corporation, taking 1.93% ownershipBy James Batchelor 3 months agoXbox closes E3 2019 conference with Project Scarlett, coming Holiday 2020Hardware details, plus every major announcement from the platform holder’s press conferenceBy Rebekah Valentine A year agoLatest comments Sign in to contributeEmail addressPasswordSign in Need an account? Register now.last_img read more

Read More »

AG: State trooper from Bayonne unlawfully stopped woman to hit on…

first_img Bayonne Facebook Twitter Bayonne CarePoint Health reaches deal for Cigna Health Insurance to join their network TAGSnew jersey attorney general’s officenew jersey state policestalkingtampering with public records SHARE AG: State trooper from Bayonne unlawfully stopped woman to hit on her, followed her home RELATED ARTICLESMORE FROM AUTHOR Previous articleHudson County GOP: George Floyd’s death ‘unconscionable,’ Alonso should resign from Bayonne BOENext article‘Black Lives Matter!’ chants echo throughout Hoboken as thousands join George Floyd protest John Heinis Share on Facebook Tweet on Twitter A New Jersey State Police trooper from Bayonne has been charged with unlawfully stopping a woman to hit on her and then following her home earlier this year, New Jersey Attorney General Gurbir Grewal announced. Photo via policearchives.org.By John Heinis/Hudson County ViewTrooper Michael Patterson, 28, of Bayonne, was charged today by complaint summons with third-degree criminal deprivation of civil rights, fourth-degree stalking, and fourth-degree tampering with public records, Grewal said in a statement.The New Jersey State Police Office of Professional Standards initially investigated this matter and referred it to the Corruption Bureau within the Office of Public Integrity and Accountability, which filed the criminal charges today and is prosecuting the case.The investigation revealed that on January 28th, 2020, Patterson conducted a motor vehicle stop of a female motorist on the New Jersey Turnpike at approximately 9:30 p.m.Patterson let the woman go with a warning, but he allegedly conducted a second, unwarranted stop of her vehicle a few minutes later when she exited the Turnpike at Exit 11.The trooper is then accused of conducting a second motor vehicle stop in order to make unwanted advances on the woman. Prior to this stop, Patterson allegedly disabled the Digital In-Vehicle Recorder (DIVR) in his vehicle to prevent his conduct from being recorded.It is further alleged that Patterson subsequently made the woman fearful by following her to her home in his patrol vehicle.Third-degree charges carry a sentence of three to five years in prison and a fine of up to $15,000, while fourth degree charges carry a sentence of up to 18 months in prison and a fine of $10,000. Bayonne man pepper sprayed, arrested after punching cop in the face, authorities say Bayonne By John Heinis – June 5, 2020 5:35 pm 0 BayonneCrimeNews Bayonne man busted with cocaine, heroin, semi-automatic handgun after fleeing from copslast_img read more

Read More »

Texas man who stole shark from aquarium had ‘floor-to-ceiling tanks’ in his house

first_imgABCNews.com(SAN ANTONIO) — Floor-to-ceiling tanks filled with exotic marine animals greeted stunned police officers who stepped into the house of a man arrested for stealing a shark from a local aquarium — using a stroller.“His whole house is full of tanks. Not what you would consider regular fish tanks, I’m talking floor-to-ceiling tanks. One was a 6,000 gallon tank, one was a 2,000 gallon tank,” said Leon Valley Police Chief Joseph Salvaggio. “It was just a lot of fish.”The man, along with two others, apparently tried to disguise the shark as a baby to remove it from the aquarium. The theft was caught on video, which showed the animal being scooped up from an open tank, taken to a restroom and packed inside a wet blanket before being stuffed into a stroller.The three people confessed to stealing the horn shark after the video of their bizarre theft was posted by the San Antonio Aquarium.The man who reached into the tank and pulled out the shark, as seen in the video, was arrested. Police said he is a plumber with a penchant for all things piscine.“He’s just a fish guy,” Salvaggio told ABC News.The two others involved were his wife and his neighbor, both of whom were charged Tuesday with felony theft for an amount anywhere between $2,500 and $30,000.Law enforcement is working with the Texas Parks and Wildlife Department and the National Oceanic and Atmospheric Administration to investigate where the other marine animals in the man’s home tanks came from.Copyright © 2018, ABC Radio. All rights reserved.last_img read more

Read More »

Personal ‘morning after’ breathalyser launched

first_imgAlcoSense Excel is a breathalyser suitable for use on the morning afterThe AlcoSense Excel is a breathalyser that is suitable for issue to drivers to ensure that they are not over the drink drive limit the following morning.AlcoSense points out that one in five drink drive accidents occur the morning after.The Excel is small and designed for ease of use, but it is also highly accurate; it utilises a smaller version of the fuel cell sensor used in several UK, US and European police breathalysers.The device senses the volume of breath exhaled during the test and it takes a reading after 1.2 litres of air, ensuring that the most accurate and consistent sample is always taken.Easy-to-read on-screen prompts coach the user on how, and when, to stop blowing. If a mistake is made, the user is alerted.Readings are fine-tuned to the temperature and it can be set to the lower Scottish limit as well as that in England and Wales. Retail price is £99.99.www.alcosense.co.uklast_img read more

Read More »

UPDATE: Silver Alert issued for missing Plymouth man cancelled

first_img By Brooklyne Beatty – September 30, 2019 0 423 Pinterest Google+ WhatsApp Previous articleCVS suspends sale of Zantac and similar genericsNext articleKosciusko County woman arrested for trafficking Saturday Brooklyne Beatty Facebook WhatsApp UPDATE: Silver Alert issued for missing Plymouth man cancelled (Photo Supplied/Indiana State Police) UPDATE: The Silver Alert for William Wallace was cancelled. William and Jane Wallace were found safe.ORIGINAL STORY: A Statewide Silver Alert has been declared for a Plymouth man.William Wallace, 80, was last seen on Sunday, Sept. 29 at 9 a.m.He is described as white, 5 feet 10 inches tall and 170 pounds. He has gray hair and blue eyes.William is believed to be with Jane Wallace. They are driving a gray 2014 Ford Fusion with an Indiana license plate number TF644.Jane is also 80 and white, 5 feet 1 inches tall and 100 pounds. She has gray hair and brown eyes.William is believed to be in extreme danger and may require medical assistance. If you have any information regarding his whereabouts, call the Plymouth Police Department at (574) 936-3187 or 911.center_img TAGSFord FusionIndianaJane WallacemissingPlymouthSilver AlertWilliam Wallace Google+ Pinterest Facebook Twitter Twitter IndianaLocalNewslast_img read more

Read More »

Ja, they went there … Germans, the Donald and Adolf

first_imgDonald Trump has not only generated daily headlines for his policies, but prompted major television networks throughout Europe to broadcast no-holds-barred mockery of him. Most readers will have seen or heard of videos in the template of the Dutch satire “America First; Netherlands Second.” The German version takes the criticism to a new level, directly comparing Trump strategy guru Stephen Bannon and the new American president to Adolf Hitler.  ZDF, which aired the video, is a large public broadcaster funded by a license fee paid by all German television owners.The presenter is Jan Böhmermann, the comedian that the Turkish government wanted to prosecute last year for insulting President Erdoğan.Be warned, nothing is sacred in this video. Also On POLITICO Putinovo Postcard In Serb village, praise for Putin and hopes for Trump By Valerie Hopkinslast_img read more

Read More »

Tony Stewart releases statement on Danica Patrick

first_imgRELATED: Danica Patrick won’t return to SHRFollowing Stewart-Haas Racing’s announcement that Danica Patrick would not return to the team next season, team co-owner Tony Stewart released a statement on her departure on Wednesday. Stewart has been her car owner for the entirety of Patrick’s full-time premier series career. Patrick was also teammates with Stewart from 2013-16 when he drove the No. 14 car.PHOTOS: Danica through the yearslast_img

Read More »

SMC to host Sammy Adams

first_imgThe Student Activities Board (SAB) of Saint Mary’s College welcomes students of the tri-campus area to buy tickets to this year’s SMC Tostal performance—rapper Sam Adams. SAB president Allie Courtney said the group worked hard to find a performer that would match the popularity of last year’s performer, Sean Kingston. “Sammy Adams music is fun, upbeat and very geared towards the college population,” she said. “We had a great turnout last year with Sean Kingston, so it is a challenge to improve the event year to year, but we are optimistic and working hard to do so. The most important part of Tostal, for me, is to ultimately bring the communities together by providing an event that people really want to go to … most of all, it is all about the students. We just want to put on a great event for students to enjoy.” Although Courtney and SAB vice president Caitlyn Wonski knew which performer was hired before winter break, they kept the performer a secret from the general student body until Midnight Madness on Wednesday night. “It is difficult to keep a secret when you go to such a small school and people know your role on campus and constantly ask you questions, but it is much more rewarding to see student’s reactions when the surprise is revealed,” Courtney said. SAB secretary Elizabeth Craig said the Saint Mary’s Tostal performer is chosen to meet the needs of the campus community. “We’re really hoping it will bring a good energy and good vibe to all three campuses,” she said. “It is a great way to get everyone excited for spring. Plus, it’s an inexpensive event with a great performer.” Junior Caroline Keep said she is very excited for the performance. “I absolutely cannot wait to see Sam Adams perform,” she said. “It’s about time the Boston boy came to South Bend. Sean Kingston was amazing last year and I can only image that this year’s Tostal will be even better. March 22 cannot come soon enough.” Tickets are $7 for students and can be purchased at the O’Laughlin Auditorium on Saint Mary’s campus or by calling (574) 284-4626. Limit is one ticket per student ID, but students may call or visit the box office with up to five student IDs.last_img read more

Read More »

The One Important Thing Missing From the Health Care Debate

first_imgFortune:You may have seen the big news on health care: Aetna is going to stop offering individual health insurance policies on the health exchanges in 11 of the 15 states where it operates. Aetna AET -0.39% follows the lead of another large health insurer, United Health UNH -0.59% , which announced in April that it was withdrawing from almost all of the health insurance marketplaces where it operated.…Language matters. Language focuses people’s attention. What senior managers talk about affects what their subordinates measure and emphasize, in the quest for leaders’ approval and individual career success. What isn’t talked about gets ignored and what is ignored suffers from inattention.So here’s what I wish would get more attention from the news media and for that matter from employers and health insurers in their decision making: human health and well-being.Read the whole story: Fortune More of our Members in the Media >last_img read more

Read More »