CMBS conduit lenders are aggressively cutting loan spreads and loosening loan structure to win business amid a shortage of good-quality CMBS conduit loans. For the better part of a year, most CMBS conduit lenders are bidding low-leverage large loans at breakeven spreads in order be able to … [Read more...]
3.24.11: Competition Heats Up for CMBS Conduit Loans
The successful CMBS offering by Goldman Sachs and Citigroup (see our 3.23.11 News Article) that priced on March 23rd marks the fifth multi-borrower deal completed in 2011. Combined issuance in the five deals totaled nearly $8 billion. With over 20 CMBS conduit shops having jumped into the resurgent … [Read more...]