NREI Finance: CMBS
NREI Finance: CMBS
Interest Rates Down, Leverage Up for Conduit Loans
Conduit lenders are growing increasingly competitive. ...
Hotels Hit Hard as CMBS Delinquencies Reach Historic HIgh
The delinquency rate for commercial real estate loans in commercial mortgage-backed securities (CMBS) jumped in May, rising 40 basis points to 8.42%, the highest rate in the history of the CMBS industry, according to research analytics firm Trepp....
Deals & Projects
MFR Partners has acquired the Old Market Lofts Building for approximately $30.6 million from NuStyle Development. The Old Market Lofts Building is located...
CMBS Gets a Stress Test
How bad can it get for commercial mortgage-backed securities in the event of a recession in the U.S.? ...
S&P Reviewing CMBS for Possible Downgrades
After enduring a round of downgrades on residential subprime-mortgage backed bonds, at least one credit-rating agency is trying to avoid similar fallout on the commercial mortgage side. ...
A Mark-to-Market Malaise
Investors show little appetite for commercial mortgage-backed securities (CMBS) these days despite some enticing deals on the menu. With only $9.9 billion...
Will CMBS Recovery Trigger a Pricing Backlash?
The market for commercial mortgage-backed securities (CMBS) will begin to recover when issuers and bond buyers agree on pricing, probably late this year or early in 2009, observers say....
Paralyzed CMBS Market Wiggles a Toe
A $1.2 billion commercial mortgage-backed securities (CMBS) offering typically doesn't merit major headlines, but this year's bond market is atypical....
Agencies at Odds on CMBS Delinquencies
Valentine’s Day brought more evidence that illiquidity in the CMBS market has little to do with current loan performance: A report from Fitch Ratings revealed that U.S. CMBS delinquencies fell by one basis point to a historical low of 0.27% in January....
CMBS Investors Eye First-Quarter Logjam
January ended on an ominous note for the nation’s commercial mortgage-backed securities (CMBS) market. For the first time in its 20-year history, not a single securitization issuance was priced in a one-month period, though the pipeline is full of some $37 billion of issues....
Deep Freeze
The credit crisis that started last year with revelations of suspect underwriting in the residential subprime mortgage market and led to more than $100...
Fitch: CMBS Delinquencies Could Triple by Year's End
Delinquencies on U.S. commercial mortgage-backed securities (CMBS) issues could double or even triple by the end of 2008, according to the latest index from rating agency Fitch Ratings...
CMBS Market Throttles Down
Prepare for a much leaner and meaner commercial mortgage-backed securities market in 2008. Domestic CMBS issuance this year is expected to drop by more...
Credit Bears Romp
It sure is tough to be a bull these days. One ominous signal: On Oct. 19, exactly 20 years after the Black Monday stock market crash, the Dow Jones Industrial...
CMBS Downgrades On The Rise: Fitch
The frequency of U.S. CMBS rating actions - upgrades in particular - may fall in the coming year, according to new report from Fitch Ratings...
Apartment Loans, Vintage CMBS Delinquencies Rise
Delinquencies among both multifamily loans of varying vintage and 2005 vintage commercial mortgage-backed securities (CMBS) increased for the third straight month in September...
Terror Insurance Decision Will Affect CMBS Credit
Many commercial mortgage-backed securities will suffer if a federal backstop for terrorism is allowed to expire at the end of this year, Fitch Ratings reported this week...
Some Good News For CRE CDO Market: Fitch
Credit metrics should remain stable for U.S. commercial real estate collateralized debt obligations (CRE CDOs) well into next year despite fewer upgrades, reports Fitch Ratings...
Cost of Capital Proves Volatile for Borrowers
Gary E. Mozer is principal and chief executive of George Smith Partners, a Los Angeles-based real estate investment and mortgage banking shop. Last year,...
Investor Timeout
After 17 straight rate increases, the Federal Reserve felt compelled to do something radical an about-face. To help jump-start the economy and assuage...
Job Losses: Bitter Pill to Swallow
The net loss of 4,000 jobs in August took the nation by surprise when the figures were released by the Bureau of Labor Statistics on Sept. 7 and reinforced...
A CMBS and CDO Primer
The commercial mortgage market faces one of its toughest credit climates in more than a decade. The most complex corners of the securitized mortgage market...
Loan Delinquency Spike Raises Red Flag
Rating agencies have been sounding alarm bells over aggressive underwriting in commercial mortgage-backed securities for more than a year, but until recently...
Changing Winds in CMBS Market
While the commercial mortgage-backed securities marketplace has been on a record-breaking tear for several years, CMBS investors have become quite a skittish bunch of late....
Wall Street Rides CDO Wave
Property owners and operators have been tapping Wall Street and private real estate investment funds in ever increasing numbers to finance unstabilized or outside the box deals...
