Recent Co-Star report announced the big banks are finally starting to take advantagge of the new round of CMBS offerings, which were for the most part closed for nearly two years during this recession. One bank in particular priced a 7 year $460 Million CMBS offering for Flagler Development WITHOUT government or TALF (Term Asset Backed Securities Loan Facility) support. A big positive for the... [more]
Recent Co-Star report announced the big banks are finally starting to take advantagge of the new round of CMBS offerings, which were for the most part closed for nearly two years during this recession. One bank in particular priced a 7 year $460 Million CMBS offering for Flagler Development WITHOUT government or TALF (Term Asset Backed Securities Loan Facility) support.
A big positive for the struggling market, as a deal like this has not taken off since mid 2008. Banks that have actively annoucned this program are BoA, GS, and JP Morgan. Time will tell whether these new transactions will will mark a return to availability of credit in the commercial market.
Link for referenced article
http://www.costar.com/News/Article.aspx?id=F5F7612FF5A1D539B586E0D7E2807DD6[less]
