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Tighter regulation of CMBS in the US has created opportunities for those willing to hold riskier bonds for long periods.
Iain Balkwill, partner at law firm Reed Smith, argues that the legislative treatment of commercial mortgage-backed securities will harm the long-term growth of the product.
Christian Aufsatz, head of European structured finance at rating agency DBRS, expects market dynamics to support a continued revival of Europe’s commercial real estate securitisation market.
Rising interest rates, CMBS volatility and the likelihood of higher spreads are among the factors borrowers in the US need to think about, writes Ryan Krauch of Mesa West Capital.
Private real estate debt vehicles need to prove their value to investors in a more crowded and competitive market.
Lenders are keeping Europe’s property market financially liquid, despite Brexit and the extended nature of the current real estate cycle, argues Nassar Hussain of Brookland Partners.
During 2018, Real Estate Capital heard from many players in the European real estate finance market. Here is a taste of what they had to say on the industry’s key topics.
Data published during the year reveal relatively stable European financing conditions and a revived CMBS market.
An influx of capital to the sector, the return of CMBS and the hunt for extra yield were among the year’s most influential trends.
The two banks have issued the first post-crisis transaction with significant French real estate exposure.