Commercial mortgage-backed securities (CMBS) new issue will likely stay in hiatus for the next five to six months due to COVID-19's shuttering the commercial real-estate market (CRE) since March.
The road back to new issue is rife will challenging steps. The major obstacles facing the industry are three-fold, according to industry experts:
- Cleaning up the $12-15 billion in warehouse loans to borrowers that planned on issuing CMBS first quarter. The U.S. big banks are 80% exposed to the warehouse facilities, bankers said.
- Investors need to . . .
Continue Reading With a Free Trial
Unlock this article instantly, along with the rest of our premium content, newsletters and mandate charts.
Already a subscriber? Log in.