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Last year's volume compares with the $11.95 billion of loans that were defeased, or had their collateral replaced with government securities, in all of 2022 and $11.1 billion in 2021.
A total of $2.81 trillion of loans likely will mature through 2028, according to analysis by Trepp Inc.
A number of CMBS loans against Manhattan office buildings face their maturities by the end of 2026. The risk, however, is that the loans carry an average coupon of 4.17 percent, a rate much less than could be had today.
CMBS special servicing volumes declined in December by 1.63 percent to $40.42 billion, according to Trepp Inc. That puts the volume near where it was in September. It's not that fewer loans are getting into trouble, however. It's that special ...
Prime Finance had acquired the B-pieces of four conduit deals with a total balance of $3.05 billion in 2023, making it the most-active player in that part of the market. But KKR Real Estate Credit was the most-active risk retainer ...
The Real Deal Wanxiang America Real Estate Group, which owns the 2.3 million-square-foot Prudential Plaza in Chicago, has negotiated a two-year term extension of the property's $385.55 million CMBS loan. The loan wasn't slated to mature until August 2025, but ...
Dallas Business Journal The securitized debt against the Colonnade office complex in the Dallas suburb of Addison, Texas, has been transferred to special servicing. The three-building property serves as collateral for a total of $223 million of debt, $105 million ...
Troubles in the office sector continue to plague the CMBS market, as 214 securitized office loans with a balance of $9.71 billion were delinquent as of the end of last month, according to Trepp Inc. That helped reduce the overall ...
The Real Deal Prudential Insurance Co. is planning to leave Prudential Plaza, a 2.3 million-square-foot office property in Chicago. The insurance company takes 51,646 sf at the property on a lease that runs through July 2025. It will move to ...
The volume of CMBS loans in the hands of special servicers increased last month only marginally - 0.51 percent - to $41.09 billion, according to Trepp Inc. A total of 45 loans with a balance of $2.24 billion were newly ...
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© 2023 Commercial Real Estate Direct All rights reserved..