Costar reported that the aggregate value of bank and CMBS real estate loans sold last year rebounded to levels not seen since 2008. Whole real estate loans, both commercial and residential, offered by the Federal Deposit Insurance Corp. (FDIC) last year sold at 84% of their book value compared with … [Read more...] about 2.28.12: Commercial Real Estate Loan Prices Regaining Pre-Recession Values
4.1.11: CMBS Prices Recover from Disaster in Japan
CMBS prices have slowly risen since the earthquake and tsunami in Japan on March 11 and subsequent concerns about unrest in the Middle East. Prices have recovered close to levels seen before the disaster. Spreads on senior investment-grade CMBS have generally tightened 5-10 basis points weekly. … [Read more...] about 4.1.11: CMBS Prices Recover from Disaster in Japan
8.30.10: CMBS Prices Continue Climb, Class AM Bonds Reach $100
CMBS prices continue to climb as a result of low Treasury yields and steady spreads. The bigger story, however, was the strength in AM and AJ bonds over the last five trading days including Friday, August 27, 2010. According to Trepp, Mezzanine AAA bonds (AMs) from 2005 and 2006 started to trade … [Read more...] about 8.30.10: CMBS Prices Continue Climb, Class AM Bonds Reach $100
7.30.10: CMBS Prices Continue a Slow, Steady Climb
CMBS prices picked up about 45 basis points (bp) in July based on the change in spread for the benchmark CMBS bond, GSMS 2007-GG10 A4. At the beginning of July, the benchmark bond was trading at about 390 bp over swaps, while finishing the month at 345 bp over swaps. In fact, some of the better … [Read more...] about 7.30.10: CMBS Prices Continue a Slow, Steady Climb