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Savvy Fund Managers Seize Opportunity
May 1, 2008
Real estate investment funds have been on a capital-raising binge for the past two quarters, drumming up in excess of $20 billion in the first quarter...
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How Downgrades Force Institutional Selling
Apr 1, 2008
In late February, investment analysts at Merrill Lynch downgraded the stocks of mortgage investment giants Fannie Mae and Freddie Mac. A few days later,...
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Regulators Voice Real Estate Angst
Mar 1, 2008
The high concentration of commercial real estate loans made by community banks is gaining the attention of the chief officer of the Office of the Comptroller...
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Borrowers' Fate Rests On Refi Options
Feb 1, 2008
During the booming real estate market of the previous five years, creative financing dominated the landscape. Investors were demanding high leverage in...
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Distressed Deals Hard To Find
Jan 1, 2008
So far, all signals from commercial real estate investment analysts point to very low delinquency and default rates, particularly in the CMBS and CDO...
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Back to the Basics for Wall Street
Dec 1, 2007
The offices of Wall Street's rocket scientists are silent these days, particularly as the work of these number-crunching gurus relates to the real estate...
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Standoff in Secondary Markets
Nov 1, 2007
There has been a deafening silence in the secondary trading pits for commercial real estate-backed loans over the past two months. This comes as investment...
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Small Hedge Funds Fare Better in Turmoil
Oct 1, 2007
Hedge funds and private-equity firms dominate commercial real estate and play a significant role with residential space as well. However, when these funds...
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Just How Severe Will the Correction Be?
Sep 1, 2007
In recent weeks, hardly a day has gone by without a news headline pointing to a residential mortgage lender or investor that has either closed shop, ceased...
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Liquidity May Be Drying Up
Aug 1, 2007
For the past six months, analysts and market observers have been contrasting the performance of single-family housing and commercial real estate. Conventional...
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Hedge Funds Wield Clout in Real Estate
Jul 1, 2007
The size of offerings for commercial mortgage-backed securities and collateralized debt obligations has been growing by leaps and bounds during the last...
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Investors Opt to Play Risk Curve With Mezzanine Loans
Jun 1, 2007
Without a doubt, the landscape of competition for commercial real estate is stiff. And the entrance of aggressive foreign investors, along with an enormous amount of lingering liquidity, continues to drive returns lower. ...
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The Power Of Private Equity
Apr 1, 2007
In recent weeks, the financial markets have been inundated with fallout news in the residential mortgage business, and ordinary citizens now use buzzwords like and But a funny thing began to happen in the face of all this bad news....
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Strengthening the Property Sponsor
Mar 1, 2007
What does it take for loan officers and mortgage brokers to feel comfortable with a potential acquisition or refinancing deal? ...
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Attached Strings to Conduit Loans
Feb 1, 2007
During the crucial early loan application stage, when a loan officer sits a borrower down to size up a mortgage, it is imperative that the borrower receives clear counsel about the differences between a conduit loan and a general portfolio loan....
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Prepare For Deals With Hair on Them
Jan 1, 2007
Excess capital in equity and debt financing markets delivered an eventful 2006, and promises more of the same in 2007. But the commercial real estate finance story to look for this year is the brutal competition among investors to snap up unstabilized properties...
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Higher Rates to Crimp Borrowing
Jul 1, 2006
It was the calm before the storm in June literally and figuratively as the commercial real estate market prepared for an onslaught of securitizations,...
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CMBS Deals Ramp Up
Jun 1, 2006
After a white-hot pace of issuance in March, new offerings of commercial mortgage-backed securities have practically disappeared, according to the Barron's/John...
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Is the CMBS Party Over?
May 1, 2006
The dollar volume of mortgages on commercial real estate hit the public marketplace at a record level in March, according to the Barron's/John B. Levy...
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Big Supply, Tight Spreads
Apr 1, 2006
A wave of commercial mortgage-backed securities hit the market in early March, following a dearth of issuance in January and February. Despite the volume,...
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A Shot Across The Bow
Mar 1, 2006
Investors in loans on commercial real estate insurance companies, pension funds and Wall Street firms continued competing for business in January, squeezing...
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A Broken Record for CMBS Market
Feb 1, 2006
Trees may not grow to the sky, but it sure looked that way in commercial real estate last year. According to the Barron's/John B. Levy & Co. National...
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Wider Spreads Yield Opportunity
Jan 1, 2006
We've all experienced that uncomfortable feeling of pushing away from the Thanksgiving table after eating one too many slices of Aunt Betty's blueberry...
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End To Frothy Underwriting In Sight spects
Dec 1, 2005
Take a gigantic issuance pipeline for commercial mortgage-backed securities, sprinkle in moderately higher U.S. Treasury rates and two headline-grabbing...
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