Related Stories
-
Delinquencies Continue To Transition to Forbearance, But CMBS 2.0 Liquidations Are Up!
In this report, our CMBS experts discuss how delinquencies continue to transition to forbearance. However, CMBS 2.0 liquidations have also been increasing.
-
How Will Higher Rates Affect Upcoming CMBS Maturities and COVID Impacted Loans?
In this article, Moody’s Analytics analysts review how higher interest rates have increased the 2nd quarter CMBS new issuance minimum debt yield to 7.12%. In contrast, 29% of ~$77.8 billion of COVID-19 affected loans have a debt yield less than 6%. This piece focuses the analysis on CMBS loans that mature before year end and creates an estimate that $7.7 billion in CMBS loans may fail to mature. If these loans are extended, the existing coupon is significantly lower than the ~6% market coupon required on a new loan, so the related CMBS bond extensions will decrease investors’ returns.
-
Why Office-to-Apartment Conversions are Likely a Fringe Trend at Best
Repurposing real estate seems like a good idea, but may not be practical. Experts analyze the trend of office-to-apartment conversions.
