The aggregate value of commercial real estate (CRE) loans priced by Boston-based DebtX that collateralize commercial mortgage-backed securities (CMBS) decreased to 79.4% as of Dec. 31, 2010, from 80.3% as of Nov. 30, 2010. Loan values were 75.9% as of Dec. 31, 2009.
‘The decline in the value of commercial real estate loans in December was due primarily to a sharp increase in interest rates during the month,’ says DebtX CEO Kingsley Greenland. "Despite the decrease in December, loan values are at approximately the same level as they were a year ago.’
In December, DebtX priced 55,968 CRE loans with a $666.1 billion aggregate principal balance. These loans collateralize 626 U.S. CMBS trusts.
SOURCE: DebtX
