REALTOR® Magazine-Daily News-Signs of Upturn in CMBS Market

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Daily Real Estate News | November 24, 2009 | Signs of Upturn in CMBS Market
Hopes are running high following the recent issuance of a couple of commercial mortgage bonds with little or no support from the Federal Reserve's Term Asset-Backed Securities Loan Facility (TALF) program.

Developers Diversified Realty Corp. recently priced the first commercial mortgage-backed security issue in more than a year at $400 million, while Bank of America is poised to take the wraps off a $460 million deal backed by office buildings and industrial facilities in Florida.

With no government support whatsoever in the BofA deal, investors will be looking at the overall transparency of the deal, as well as taking into account whether the properties held as collateral on these loans are leased to solid tenants and can generate a consistent flow of income with no eventual lease terminations.

Source: American Banker (11/24/09)

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