With 2019 CMBS issuance of $97.8 billion surpassing estimates by a wide margin, CMBS pros are projecting 2020 will surpass $100 billion, making 2020 the busiest year since the financial crisis. With interest rates projected to remain near rock bottom for the foreseeable future, it’s widely believed … [Read more...]
9.7.18: CMBS Issuance Resumes After Summer Slowdown
At least three CMBS multi-borrower conduit issues totaling $3.2 billion are expected to be brought to market in the next week or so. These offerings are the first since August 10th and follow a relatively slow summer period for CMBS issuance. The largest of the new deals is a $1.4-billion offering … [Read more...]
12.9.16: CMBS Prices Hold Steady Amid Heavy Bond Issuance …
CMBS issuers are finding stable CMBS pricing despite heavy issuance as dealers rush to clear inventory ahead of risk-retention rules that become effective December 24. Six CMBS deals were in the market in the first week of December, a few of which have already priced in a range consistent with … [Read more...]
9.30.15: CMBS Issuance Slows a Bit
Commercial Mortgage Alert surveyed 14 market pros, and those pros projected that CMBS issuance in the United States would soar 32% to $124 billion in 2015. That lofty goal may not be within reach based on results through the third quarter of 2015. Some $23.1 billion of U.S. transactions priced from … [Read more...]
5.11.15: Mid-Year CMBS Issuance on Track
With an expected increase in CMBS issuance for the next six weeks, CMBS volume appears to be on track to hit $56 billion for the first six months of 2015, up 38% from $40.6 billion recorded in the first half of 2014. That would keep full-year volume on pace to reach the $125 billion forecast by … [Read more...]
3.26.13: CMBS Issuance Soars in 2013’s First Quarter
From January through March 2013, $22.9 billion of commercial mortgage-backed securities were issued, up almost fourfold from a year earlier, according to Commercial Mortgage Alert. That puts volume on pace to surpass $90 billion for the year, well above the $65-billion average prediction by a panel … [Read more...]
8.24.12: Calm Before the CMBS Issuance Storm
After only one issue at the beginning of August, the CMBS market is preparing for a flurry of deals in September and October. CMBS conduit shops are expected to team up, mainly with their usual partners; in September, the market can expect deals from JPMorgan/CIBC, UBS/Barclays, RBS/Wells Fargo, … [Read more...]