BLOGGER COMMENT: The biggest problem facing commercial real estate is the capital markets’ lack of liquidity. CMBS issuance went from $230 billion in 2007 to $12 billion in 2008 to less than a billion dollars YTD in 2009 (my source Read More
Category: Real Estate Finance
Luxury hotels that borrowed during the boom face default
[youtube=http://www.youtube.com/watch?v=d_J28rip1Ms] The lingering recession is leaving $850 a night hotel rooms empty. Large, luxury hotels are in default with their lenders. Read More
About $12B In TALF Eligible Deals Emerge Ahead Of Deadline
From the Wall Street Journal By Anusha Shrivastava Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)–About $12 billion in consumer loan-backed deals have emerged ahead of a loan-application deadline for cheap funding under a Federal Reserve program. Issuers include Ford Read More
Capital Markets Showing Some Signs of Life
Aug 25, 2009 By: Tonie Auer, Contributing Correspondent Commercial Property Executive Strong interest in public markets and the slow but steady return of securitization provide some indicators that relief in the commercial real estate market may be on the way, Read More
TALF Update: Fed Gets $2.3 Billion of Commercial Mortgage Requests
By Jody Shenn on Bloomberg.com Aug. 20 (Bloomberg) — Investors asked the Federal Reserve for $2.3 billion of loans against commercial-mortgage-backed securities created before this year, an expansion from $668.9 million in its financing program’s first round a month earlier. Read More
Commercial Loans Failing at Rapid Pace
By LINGLING WEI and MAURICE TAMMAN in the Wall Street Journal 7-21-2009 U.S. banks have been charging off soured commercial mortgages at the fastest pace in nearly 20 years, according to an analysis by The Wall Street Journal. At that Read More
Local Developers Feeling Credit Crunch: Banks Hesitate to Lend in Current Environment
By Brian Neill, The Bradenton Herald, Fla. Jun. 24–Local developers say they can’t get local funding for their projects despite governmental talk about stimulating the economy. As a result, potential projects have stalled or are not moving forward. <<Blogger comment: Read More
Distressed commercial real estate totals $97.4B
National distressed commercial real estate totaled $97.4 billion in early June, including foreclosures, lender-owned properties, and foreclosures, according to a new report from Delta Associates. Distressed commercial real estate volume has doubled every three months since December 2008 with retail Read More
Fed Gets No Requests for TALF Loans to Purchase CMBS
By Scott Lanman June 16 (Bloomberg) — The Federal Reserve received no requests from investors for loans to buy new commercial mortgage-backed securities under an emergency program aimed at reducing borrowing costs and reviving U.S. economic growth. The New York Read More
TALF Requests Reach $11.5 Billion as CMBS Issues Become Eligible
New CMBS Issues Will Become Eligible for Government Aid at Mid-Month, But Some Fear S&P Action Could Blunt TALF’s Ability to Restore Liquidity By Randyl Drummer in CoStar June 3, 2009 With commercial mortgage securities poised to become eligible for Read More