Want to get a jump-start on upcoming deals? Meet the major Dallas-Fort Worth players at one of our upcoming events ! The final three months of 2019 are turning into a windfall for commercial mortgage backed securities issuers that have found themselves competing for lending opportunities against capped-out government sponsored enterprises and wary insurance companies.
Having the 10-year Treasury below 2% and Fannie Mae and Freddie Mac well past their multifamily lending caps for 2019 put CMBS in a competitive position these past three months as borrowers have searched for low interest rates and liquidity in a competitive environment, a new report from Trepp Analytics said.
“It’s materially better than anything that we’ve seen in recent years. It’s a race to the finish line,” Trepp Senior Managing Director Manus Clancy said about CMBS issuance in an interview with Bisnow.
Clancy said CMBS lending is typically slow after Thanksgiving, but in the first week of December, a couple of single-asset deals were priced and he knows of seven more deals working.
Insurance companies have been more on the sidelines in late 2019 or, at the very least, less competitive against CMBS on the current playing field.
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