There are indications that anywhere from 150,000 to 200,000 units under construction in the top 79 markets that Reis tracks, with approximate completion dates from late 2012 to 2013. That is more than triple the rate of inventory growth in 2011.
There has been $30.3 billion in new CMBS issuance to date in 2013, according to Commercial Mortgage Alert. That puts the industry on pace to smash last year’s volume of $48.4 billion and will make 2013 the busiest year for CMBS issuance since 2007. Where do you think total CMBS issuance volume will end up in 2013?