CMBS

Last month’s real estate debt fire sales at the outset of the covid-19 outbreak in the US were just the tip of the iceberg for private real estate.

Coronavirus shutdowns have pushed nearly $25bn of US CMBS loans to the brink of delinquency, and the worst is yet to come.

Colony Capital’s CEO calls for lender leniency to avert a mortgage market collapse, triggering a financial crisis.

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.