20.12.2012 - Turnaround continues for CMBS market in 2013, but fiscal cliff bears watching
The commercial real estate market, and the U.S. CMBS market in particular, are likely to see steady improvement in the New Year, says Huxley Somerville, head of US CMBS at Fitch Ratings in New York. "A slow increase in volume is preferable; we would not like to see a 50% increase over 2012," he says. "A 15% to 20% increase would be much better. Otherwise, competition would lead to the erosion of underwriting standards." "We expect 2012 CMBS issuance to finish at roughly $45 billion, with a slight increase to $50 billion as a possibility in 2013," says Zanda Lynn, managing director at Fitch Ratings...............................................Full Article: Source
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