The Real Deal New York

CMBS loans rising sharply in NYC

Half of top 10 commercial mortgages over past 12 months did not come from banks
By Adam Pincus | August 20, 2015 10:02AM

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.

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]