A $90 Billion Debt Wave Shows Cracks in U.S. Property Boom
A $90 billion wave of maturing commercial mortgages, leftover debt from the 2007 lending boom, is laying bare the weak links in the U.S. real estate market.read more
View ArticleDeutsche Bank Analysts Say Time to Short CMBS as Retailers Ail
Analysts at Deutsche Bank AG, one of the biggest underwriters of bonds tied to U.S. commercial real estate, say now it’s time to short indexes of the securities.read more
View ArticleThe CMBS Wall of Maturities—Cracking the CMBS Code
Debra Jackson Now your loan is maturing and market conditions are such that you cannot refinance or sell the property and generate the proceeds you need to pay off the loan.read more
View ArticleWhat Financial Reform Under Trump Might Mean for CRE
Among other measures, reintroduction of the amended Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs Act could be significant for commercial real estate.read more
View ArticleWall Street Has Found Its Next Big Short in U.S. Credit Market
Wall Street speculators are zeroing in on the next U.S. credit crisis: the mall.read more
View ArticleJ.C. Penney Closings Could Become a Critical Issue for Lower Quality Malls
We spoke with Edward Dittmer, vice president of CMBS at Morningstar Credit Ratings, to shed more light on the firm’s findings and their significance for mall owners and retail investors.read more
View ArticleOffice Properties Drove CMBS Delinquency Higher in February
The rate is the highest the firm recorded in 18 months.read more
View ArticleCMBS Delinquencies Climb Higher
Most of the stable legacy loans securitized circa 2007 have already been refinanced or defeased early, whereas much of what is left are the “dregs,” or loans that have very high leverage or vacancy and...
View ArticleCrisis-Era Lesson on Lofty Ratings Returns in Property Bonds
As delinquencies on loans rise, some ratings firms are walking back their grades on bonds tied to properties like shopping malls and office towers, just a few years after assigning them.read more
View ArticleRetail `Big Short' Can Cut Out Mall Middleman, Citi Says
The prevailing theory is that failing brick-and-mortar retailers will mean higher vacancies and bankruptcies for mall operators, with losses inflicted on CMBS holders.read more
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