6 Aug 2012
CMBS Market Active, But Volume Still Dashes Hopes
CMBS lenders are putting together new deals, but issuance for the full year 2012 will likely once again fall below expectations . Year-to-date, the U.S. commercial real estate market saw $22.5 billion in new CMBS issuance, according to Commercial Mortgage Alert , an industry newsletter.
Somewhere close to $10 billion in additional deals might come to market in the coming months, according to Commercial Real Estate Direct , another industry publication. That would put 2012’s non-agency CMBS volume on par with 2011’s $32.9 billion, but fall $15 to $20 billion short of earlier expectations, according to Ken Cheng, managing director for CMBS new issuance ratings with Horsham, Pa.-based Morningstar Credit Ratings LLC. (NREI) READ MORE…