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The Boost to the Big Short: COVID-19's Impact on U.S. Mall Debt in CMBX 6 & 7
Blog 2 months ago
The Boost to the Big Short: COVID-19's Impact on U.S. Mall Debt in CMBX 6 & 7

Investors who had heeded the advice of billionaire Carl Icahn and bet against the performance of shopping malls in the CMBS derivative index known...

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Market Turmoil Prompts Issuers to Yank Proposed CMBS Deals from Market
Blog 2 months ago
Market Turmoil Prompts Issuers to Yank Proposed CMBS Deals from Market

Hotel and retail properties have been walloped by the actions taken to stem the coronavirus pandemic. Occupancy rates at hotels have plummeted and...

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The State of the Retail Market in Times of Global Pandemic
Blog 2 months ago
The State of the Retail Market in Times of Global Pandemic

The outbreak of the novel coronavirus has led to many companies announcing temporary closures. A notable example, The Simon Property Group recently...

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Four Loans to Watch: Trepp CMBS Surveillance
Blog 2 months ago
Four Loans to Watch: Trepp CMBS Surveillance

Amid the coronavirus crisis and concerning drops across the stock markets and Treasury yields, the CMBS sector has wavered strong with declines in...

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Life Insurance Commercial Mortgage Index Steeply Drops in Fourth Quarter
Blog 2 months ago
Life Insurance Commercial Mortgage Index Steeply Drops in Fourth Quarter

The LifeComps™ Index, which benchmarks commercial mortgage investments held by life insurance companies, posted a 0.55% total return in fourth...

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CMBS Week in Review: Mapping Airlines' Exposure; COVID-19 Creates Roadblock for New Deals?
Blog 2 months ago
CMBS Week in Review: Mapping Airlines' Exposure; COVID-19 Creates Roadblock for New Deals?

As industry participants looked for more clarity on pricing levels amid the recent market sell-off, the $828.0 million CSAIL 2020-C19 deal printed...

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A Look at the Banking System’s Commercial and Industrial Loan Exposure to COVID-19
Blog 2 months ago
A Look at the Banking System’s Commercial and Industrial Loan Exposure to COVID-19

As COVID-19 continues to spread, the impact to business, markets, and everyday life is changing on a daily, if not hourly basis, which makes...

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The Five Largest CMBS Loan Losses
Blog 2 months ago
The Five Largest CMBS Loan Losses

Remittance data indicated a roughly 50% decrease in write-offs on CMBS loans disposed with a loss in February. A total of $388.1 million spread...

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CMBS Week in Review: Spreads Continue to Push Out; Liquidation and Closure Announcements
Blog 2 months ago
CMBS Week in Review: Spreads Continue to Push Out; Liquidation and Closure Announcements

Gripped by an onslaught of news about COVID-19 spreading globally and businesses tightening on travel and experiencing operational disturbances,...

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The Case for Academic and Industry Alignment in Real Estate
Blog 2 months ago
The Case for Academic and Industry Alignment in Real Estate

US commercial real estate (CRE) value is estimated to be approximately $17 trillion, according to Nareit. That number continues to grow and garner...

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CMBS Week in Review: Wall Street's Worst Week Since Financial Crisis Impacts CMBS Spreads
Blog 3 months ago
CMBS Week in Review: Wall Street's Worst Week Since Financial Crisis Impacts CMBS Spreads

Wall Street logged its worst weekly performance since the financial crisis as news that the COVID-19 virus has spread to even more countries...

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Office NOI Gets Boost from Job Growth and Technology Sector
Blog 3 months ago
Office NOI Gets Boost from Job Growth and Technology Sector

Thanks to a strong economy, driven by record-low unemployment numbers, robust job growth, and booming technology and healthcare industries, the...

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WeWork: So Now What? Coworking Giant's CMBS Exposure Up To $5.6 Billion
Blog 3 months ago
WeWork: So Now What? Coworking Giant's CMBS Exposure Up To $5.6 Billion

We've received many inbound requests to refresh our CMBS exposure summary for WeWork, and each time we've been somewhat surprised with the co...

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CMBS Week in Review: Coronavirus Concerns Continue to Nudge Market; Retail Round-up
Blog 3 months ago
CMBS Week in Review: Coronavirus Concerns Continue to Nudge Market; Retail Round-up

Last week’s broader market activity can be characterized as notably "wobbly" but with a few pockets of redeeming moments per the usual "when is...

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The Next Big Thing in Real Estate: Blockchain?
Blog 3 months ago
The Next Big Thing in Real Estate: Blockchain?

Almost two decades ago, the global economy saw the bursting of the dot-com bubble. The tech-heavy Nasdaq stock index, which hit an all-time high of...

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Commercial Real Estate is Not Done Growing (Quite) Yet
Blog 3 months ago
Commercial Real Estate is Not Done Growing (Quite) Yet

The commercial real estate and finance markets have been on a long-running roll. Since the end of the Great Financial Crisis, property rents and...

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CMBS Special Servicing Rate Starts 2020 with Another Decline
Blog 3 months ago
CMBS Special Servicing Rate Starts 2020 with Another Decline

The Trepp Special Servicing rate came in at 2.78% in January, a decline of 14 basis points from the previous month. All property types saw a...

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CLO Market Round-Up: Chapter 11 Addition Gets Acquired for Almost $600 Million
Blog 3 months ago
CLO Market Round-Up: Chapter 11 Addition Gets Acquired for Almost $600 Million

Companies who have positions in the CLO universe found their names in the headlines last week. The headline-worthy stories that we chose for our...

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The Lease Lowdown: Largest Tenant Behind CMBX 9 Office Loan to Downsize
Blog 3 months ago
The Lease Lowdown: Largest Tenant Behind CMBX 9 Office Loan to Downsize

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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MSA Snapshot: A Look at CRE Activity in the Mile High City
Blog 3 months ago
MSA Snapshot: A Look at CRE Activity in the Mile High City

Situated at the foot of the Rocky Mountains, Denver is known for its breathtaking views and its wide range of outdoor activities. The Mile High...

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CMBS Week in Review: Another Wave of Retail Store Closures and Bankruptcies
Blog 3 months ago
CMBS Week in Review: Another Wave of Retail Store Closures and Bankruptcies

Marred by weeks of coronavirus news and subsequent stock market sell-offs, the three major US indexes bounced back last week with major gains....

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CLO Market Round-Up: Ancestry Lays off 6% of Workforce; Truck Maker's Stock Surges on Reports of Sale
Blog 3 months ago
CLO Market Round-Up: Ancestry Lays off 6% of Workforce; Truck Maker's Stock Surges on Reports of Sale

February began with announcements from major retailers about upcoming store closures and/or bankruptcy proceedings and the continuation of fears...

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CMBS Week in Review: More Store Closures in the Spotlight
Blog 3 months ago
CMBS Week in Review: More Store Closures in the Spotlight

The major US indexes continued to decline last week as concerns over the coronavirus outbreak and its impact on the Chinese economy heightened...

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Single-Family Rentals: What's Driving this Developing Market?
Blog 4 months ago
Single-Family Rentals: What's Driving this Developing Market?

Amid a significant shift in housing preferences, the single-family rental (SFR) market is emerging as a winner. By now, it is old news that...

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Freddie and Fannie Funded $148 Billion of Multifamily Loans in 2019
Blog 4 months ago
Freddie and Fannie Funded $148 Billion of Multifamily Loans in 2019

Freddie Mac and Fannie Mae collectively funded about $148 billion of loans against apartment properties last year. Freddie funded about $78 billion...

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The Good, the Bad, and the Ugly: 2019
Blog 4 months ago
The Good, the Bad, and the Ugly: 2019

We've given the market an A+ for 2019 because it exceeded most expectations. There were plenty of reasons to be concerned heading into the year....

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CMBS Week in Review: New Store Closures Present Noteworthy CMBS Exposure
Blog 4 months ago
CMBS Week in Review: New Store Closures Present Noteworthy CMBS Exposure

Over the past week, the major US indexes posted notable declines following news surrounding the recent coronavirus outbreak, with reports of its...

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A Decade in Review and What's to Come
Blog 4 months ago
A Decade in Review and What's to Come

This decade was chock-full of twists and turns for all players in the commercial real estate and the overall financial market. As the doors to the...

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The Five Largest CMBS Loans to Turn Newly Delinquent
Blog 4 months ago
The Five Largest CMBS Loans to Turn Newly Delinquent

Servicer remittance data reveals that there was a significant drop in the volume of private-label CMBS loans that were pushed to a delinquency...

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CMBS Week in Review: First 2020 Conduit Offerings; CREFC CMBS Conversation
Blog 4 months ago
CMBS Week in Review: First 2020 Conduit Offerings; CREFC CMBS Conversation

Early January always marks the congregation of industry players in South Beach Miami for the annual CREFC Conference, with this year being its 21st...

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