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New York

CMBS loans rising sharply in NYC

Half of top 10 commercial mortgages over past 12 months did not come from banks

(Click to enlarge)
(Click to enlarge)

From the August issue: Top commercial owners on the hunt for low-cost financing are increasingly turning to the more restrictive terms of securitized loans over more flexible options, fueling a sharp rise in commercial mortgage-backed securities lending over the past year.

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Companies such as Tishman Speyer and Saks Fifth Avenue parent Hudson’s Bay are returning in force to CMBS loans, leading to a 34 percent increase in such borrowing in New York City during the 12 months ended June 30, to $13.6 billion. [more]

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