Commercial Real Estate Direct Staff Report The average asking rent for ground-floor retail space in Manhattan at the end of last year was $652/sf, a 99 percent decline from 2019, according to CBRE Rents dropped by 11 percent in the third quarter,...
Commercial Real Estate Direct Staff Report The 600-room Marriott Houston Westchase, which backs a troubled $699 million CMBS loan, has been appraised at a value of only $475 million The property’s loan is the only remaining asset in Bear...
A total of 20 million square feet of office leases were signed in Manhattan last year, a 495 percent drop from the 396 million sf that was leased in 2019, according to CBRE That was the lowest leasing volume in the borough since CBRE began tracking...
Despite historically low interest rates, defeasance volume in the CMBS market plunged last year to $68 billion from $153 billion in 2019, according to Trepp LLC That no doubt was driven by the reluctance from investors to complete sales transactions...
Commercial Real Estate Direct Staff Report December marked the third straight month in which the volume of CMBS loans with special servicers has declined It fell by 35 percent to $5295 billion from $5486 billion in November, according to Trepp LLC...
The US hotel occupancy rate rebounded during the week through Jan 2 as a result of increased travel for the New Year’s holiday The rate jumped to 406 percent, according to STR, from 325 percent during the week through Dec 26 – the lowest...
KKR Real Estate Credit was the most active buyer of B-pieces from CMBS conduit transactions in 2020, retaking the title from Rialto Capital Advisors It invested in seven conduit deals totaling $62 billion, or nearly 23 percent of the year's...
Commercial Real Estate Direct Staff Report The volume of CMBS loans that are more than 30-days late with their payments declined again in December, to $4218 billion from $441 billion in November, according to Trepp LLC It marks the sixth straight...
Private-label CMBS issuance in the United States totaled $56 billion in 2020 That's down nearly 43 percent from the $967 billion of issuance in 2019 JPMorgan Securities was the year's most-active bookrunner, with a 174 percent share of the market It...
Argentic Securities, among the most active retainers of risk in CMBS conduit transactions since rules were implemented four years ago, is moving 14 of the highest-rated bond classes it acquired over the years into new Delaware Statutory Trusts The...
