Investors pile billions into New York office market #CMBS on.ft.com/3UK6Aww
That has lifted borrowing tied exclusively to NY offices in the CMBS market to $11bn this year, with office financings in US securitised markets at their highest level since 2021, before the Federal Reservebegan raising interest rates.
Oct 18, 2023 • 4 tweets • 1 min read
Commercial-Property Distress in the US Rises to a 10-Year High @business #CMBS
The value of distressed US commercial real estate neared $80 billion in the third quarter, its highest level in a decade, as rising interest rates and sagging office demand shook the property market
Aug 7, 2023 • 6 tweets • 2 min read
A sudden surge in debt costs threatens to wipe out many apartment-building owners across the U.S. @WSJ #CMBS wsj.com/articles/a-rea…
Mar 20, 2023 • 4 tweets • 1 min read
JPMorgan Says There’s ‘Nowhere to Hide’ in CMBS Amid Selloff @business
•“What started as a spread widening episode in IG mezz in the week leading up to SVB’s collapse has infected AAA CMBS this past week regardless of format,” the analysts wrote.
•The collapse of Silicon Valley Bank has placed a “magnifying glass” on regional banks, they said, noting that their commercial real estate (CRE) loan books remain a “major concern”
Apr 12, 2022 • 4 tweets • 2 min read
Rising office vacancy rates mean building owners may soon have to think about expensive redevelopments @WSJ #CMBSwsj.com/articles/home-…
The average office vacancy rate will hit an almost three-decade high of 17% in the U.S. in 2022, according to CBRE estimates. That compares with around 7% in Europe.
