The aggregate value of commercial real estate (CRE) loans – priced by DebtX – that collateralize commercial mortgage-backed securities (CMBS) increased to 77.7% as of Nov. 30, 2009, from 76.9% as of Oct. 30, 2009.
The aggregate value is down from the January 2009 level of 81.3%, the loan-sale advisor says.
‘Loan prices in the CMBS universe rose modestly in November but have remained in a tight range since July 2009,’ explains DebtX CEO Kingsley Greenland. ‘November's modest improvement in CMBS collateral prices is the result of increased liquidity and declining spreads among the higher-rated CMBS market segment.’
DebtX priced 60,982 commercial real estate loans with an aggregate principal balance of $716.7 billion as of the end of November.