The Real Deal Miami

CMBS markets improve nationwide: Moody’s

October 21, 2010 12:45PM

Commercial real estate markets continued to improve nationwide in the third quarter, with all property types tracked showing an improvement, according to a report from Moody’s released today. The Honolulu market ranked best among the cities tracked, scoring a 78 on Moody’s CMBS index, followed by New York City, which scored a 76. The hotel sector shows the greatest quarter-over-quarter improvement, climbing 30 points to a score of 54, while the central business district office market showed a five-point gain, reaching a 60-point index score. While Keith Banhazl, a Moody’s senior analyst, said that there’s reason to be optimistic, he said that the overall market is still on soft footing. “In general, the commercial real estate markets remain in the uncertain… range,” Banhazl said. “However, the future appears to brighten with each passing quarter.” TRD