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Foreign Banks Expand US Lending
Blog 5 hours ago
Foreign Banks Expand US Lending

Originally published in the October 11, 2019 issue of Commercial Mortgage Alert The U.S. commercial-mortgage holdings of foreign-owned banks grew...

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Forever 21's CMBS Exposure In the Spotlight After Bankruptcy Filing
Blog 1 day ago
Forever 21's CMBS Exposure In the Spotlight After Bankruptcy Filing

Those closely watching the retail sector had plenty to work with over the past few weeks as several national chains made announcements about...

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CMBS Week in Review: Largest Post-Crisis CMBS Deal Issued; Sporting Goods Retail Closures To Come
Blog 2 days ago
CMBS Week in Review: Largest Post-Crisis CMBS Deal Issued; Sporting Goods Retail Closures To Come

The primary CMBS market saw the pricing of the $5.6 billion BX 2019-XL securitization last Wednesday which was used to finance the acquisition of a...

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The Lease Lowdown: Houston Office Lease On Watch; DC Pension Board Signs Renewal
Blog 1 week ago
The Lease Lowdown: Houston Office Lease On Watch; DC Pension Board Signs Renewal

The comings and goings of major tenants at the properties behind CMBS loans continue to be fertile ground for both anxiety and sighs of relief from...

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Retail and Multifamily Push CMBS Special Servicing Rate Down
Blog 1 week ago
Retail and Multifamily Push CMBS Special Servicing Rate Down

The Trepp Special Servicing rate fell once again in September by twelve basis points to 3.10%. Breaking down the rate by sector, the individual...

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CMBS Week in Review: Forever 21's Expected Bankruptcy; Spreads Widen Considerably
Blog 1 week ago
CMBS Week in Review: Forever 21's Expected Bankruptcy; Spreads Widen Considerably

The secondary CMBS market kicked off the start of the fourth quarter with muted trading activity. According to CMBS BWIC data provided to us by...

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A Dive into WeWork's $3.3 Billion in CMBS Exposure
Blog 1 week ago
A Dive into WeWork's $3.3 Billion in CMBS Exposure

Worrisome news surrounding WeWork continues to stream in after the co-working giant’s recent IPO postponement, with the firm’s roster of high...

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MSA Snapshot: Exploring CRE Activity in the Emerald City
Blog 2 weeks ago
MSA Snapshot: Exploring CRE Activity in the Emerald City

Not to be confused with the Emerald City from The Wizard of Oz, Seattle gets its nickname from the lush greenery that colors the cityscape. Like...

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CMBS Week in Review: WeWork Controls Headlines; New Conduit Issuance Spikes
Blog 2 weeks ago
CMBS Week in Review: WeWork Controls Headlines; New Conduit Issuance Spikes

CMBS spreads logged some modest widening throughout the course of the week as US equities closed out their second consecutive week of losses: CMBX...

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Guest Blog: A Look at Rent Prices and NOI During the Housing Boom
Blog 2 weeks ago
Guest Blog: A Look at Rent Prices and NOI During the Housing Boom

In the early 2000's, prices of homes rose significantly. The boom was spatially heterogeneous, with some areas seeing house prices more than double...

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Multifamily Lending Saw a 19 Percent Increase in 2018, Reaching Record $339.2 Billion
Blog 2 weeks ago
Multifamily Lending Saw a 19 Percent Increase in 2018, Reaching Record $339.2 Billion

Last year, 2,669 lenders provided a record $339.2 billion of mortgage debt against multifamily properties with five or more units each, according...

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The Five Largest CMBS Loans to Turn Newly Delinquent
Blog 3 weeks ago
The Five Largest CMBS Loans to Turn Newly Delinquent

Servicer remittance data shows that there was a significant spike in the volume of private-label CMBS loans that were shuffled to the delinquency...

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CMBS Week in Review: Fed Implements Rate Cut; Gander Outdoors in the Spotlight
Blog 3 weeks ago
CMBS Week in Review: Fed Implements Rate Cut; Gander Outdoors in the Spotlight

Secondary CMBS trading was busy earlier last week as a number of block-sized floater lists came in for the bid, but tapered off on Thursday as the...

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Guest Blog: Analyzing Delinquencies in CRE Debt: Understanding Risk and Pricing
Blog 3 weeks ago
Guest Blog: Analyzing Delinquencies in CRE Debt: Understanding Risk and Pricing

Commercial Real Estate (CRE) debt has been the staple form of capital for the real estate industry in the US for decades. However, a lot has...

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The Five Largest CMBS Loan Losses Last Month
Blog 4 weeks ago
The Five Largest CMBS Loan Losses Last Month

Total August write-offs and the volume of CMBS loans disposed with a loss rose slightly month over month due to the continued resolution of...

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CMBS Week in Review: More Retail Headlines from Gamestop, Fred's, Forever 21 and Old Navy
Blog 1 month ago
CMBS Week in Review: More Retail Headlines from Gamestop, Fred's, Forever 21 and Old Navy

Secondary CMBS market trading was moderate last week as the sector prepared for the arrival of several new conduit issues. CMBS BWIC data provided...

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The Lease Lowdown: Oklahoma Tenant Terminates Lease; More Sears Closures
Blog 1 month ago
The Lease Lowdown: Oklahoma Tenant Terminates Lease; More Sears Closures

The comings and goings of major tenants at the properties behind CMBS loans continue to be fertile ground for both anxiety and sighs of relief from...

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CMBS Week in Review: Sears Holdings Announces New Batch of Closures Touching CMBS
Blog 1 month ago
CMBS Week in Review: Sears Holdings Announces New Batch of Closures Touching CMBS

US stocks posted their second consecutive week of gains after trading resumed following Labor Day as investors focused on positive developments on...

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Back to School Special: A Student Housing Loans Cheat Sheet
Blog 1 month ago
Back to School Special: A Student Housing Loans Cheat Sheet

In the post-financial crisis era, the student housing sector has served as one of the major areas of growth for CMBS lenders. With the GSEs taking...

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Hotel Sector Seen Slowing for Rest of 2019 and 2020
Blog 1 month ago
Hotel Sector Seen Slowing for Rest of 2019 and 2020

Growth in the hotel sector is poised to slow for the remainder of this year and into next, thanks to an expected slowdown in economic growth and...

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CMBS Week in Review: A Busy Week in Retail Ahead of Labor Day Weekend
Blog 1 month ago
CMBS Week in Review: A Busy Week in Retail Ahead of Labor Day Weekend

Secondary CMBS trading slowed ahead of the Labor Day holiday weekend, with overall volume totaling $320 million when agency and IO paper are...

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Who will be the CRE Winners and Losers in 2020? Ranking Property Type and Regions
Blog 1 month ago
Who will be the CRE Winners and Losers in 2020? Ranking Property Type and Regions

As of August 16, 2019; more than $15 trillion of debt outstanding are pricing with negative-yields, countries such as Germany, Japan, France and...

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Kroll Finds SASB Deals Have Had 3.11 Percent Default Rate
Blog 1 month ago
Kroll Finds SASB Deals Have Had 3.11 Percent Default Rate

Loans that get securitized through single-asset, single-borrower, or SASB, transactions have had a stellar credit record as only six such loans...

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The Five Largest CMBS Loan Losses Last Month
Blog 1 month ago
The Five Largest CMBS Loan Losses Last Month

Remittance data for July reflected a slight uptick in write-offs on troubled legacy loans backed by shopping centers and suburban offices. In total...

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CMBS Week in Review: Spreads Widen on Continued Treasury Rally; July Retail Sales Better Than Expected
Blog 1 month ago
CMBS Week in Review: Spreads Widen on Continued Treasury Rally; July Retail Sales Better Than Expected

It was a quiet week in the secondary CMBS market, yet it was anything but that for the rest of the financial markets. A plunge in US Treasury rates...

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The Five Largest CMBS Loans to Turn Newly Delinquent in July 2019
Blog 2 months ago
The Five Largest CMBS Loans to Turn Newly Delinquent in July 2019

Remittance data indicates that there was a slight month-over-month decline in the total volume of private-label CMBS loans that were newly...

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Retailers at Risk: How Long Will the Retailpocalypse Continue?
Blog 2 months ago
Retailers at Risk: How Long Will the Retailpocalypse Continue?

The so-called “retailpocalypse” showed no signs of winding down in 2019, with its momentum fueled by leveraged stress from private equity ownership...

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CMBS Week in Review: CMBS Spreads Widen on Broader Market Volatility; Sears Closing 26 Stores
Blog 2 months ago
CMBS Week in Review: CMBS Spreads Widen on Broader Market Volatility; Sears Closing 26 Stores

Over the course of the week, CMBS cash and CMBX spreads both widened across the board on greater broader market volatility. Spreads came out by...

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CEO Blog: You Want Me in Your Mall; Here's How to Get Me There
Blog 2 months ago
CEO Blog: You Want Me in Your Mall; Here's How to Get Me There

You want me. You want me in your mall. I am one-half of a mature, two-income household: a wife, mother and suburban (and vacation) home owner. In...

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The Lease Lowdown: Indiana Office Loan Heads to Special Servicing; A CMBS Loan Worth Footnoting
Blog 2 months ago
The Lease Lowdown: Indiana Office Loan Heads to Special Servicing; A CMBS Loan Worth Footnoting

The comings and goings of major tenants at the properties behind CMBS loans continue to be fertile ground for both anxiety and sighs of relief from...

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