Seth Eaton Discusses Modifications and Workouts of Commercial Real Estate Loans during the COVID-19 Pandemic
Paul Ayoub and Joseph Jannetty evaluate the Commercial Real Estate Outlook for 2024. They analyze key issues and data from the prior year to provide perspective on the challenges and opportunities in the real estate industry...more
In recent years, U.S. banks have been tightening lending conditions. This trend is expected to continue for commercial loans because of various factors, including the ongoing effects of the COVID-19 pandemic, changes in...more
The Federal Reserve's most recent Financial Stability Report addressed what many industry watchers had been convinced of for some time: the commercial real estate sector is in a precarious state. The Federal Reserve Bank...more
The U.S. commercial real estate market, valued at $20 trillion in 2021 by some estimates, touches nearly every facet of urban and suburban dwellers’ lives – from where they live (multi-family housing or apartment buildings)...more
European commercial real estate (CRE) lending markets face a difficult environment, resulting from a higher than usual cost of debt and declining property valuations. In the face of such uncertainties, we examine how private...more
In this first installment of the Finance Forum Focus Series, Cadwalader special counsel Michael Ruder is joined by Alan Todd, Head of CMBS Strategy at BofA Securities. Michael and Alan discuss Environmental, Social and...more
The Commercial Mortgage Market Since the Covid-19 Pandemic - The COVID-19 pandemic has caused disruption to many facets of what was once everyday life. As Americans sheltered in place, brick-and-mortar retail shopping and...more
NYC Companies Have Been the Least Successful in Bringing Employees Back to the Office - Compared to other major regions across the country, New York City companies have been the slowest in bringing their employees back to...more
Watch Real Estate Finance Shareholder Seth Eaton discuss loan modifications and how they have evolved throughout the COVID-19 pandemic. Seth outlines several different phases of loan modifications and highlights key points...more
Folks, last week I made the point that it’s extremely important to confront negative narratives about our industry before they take hold, creep into the interstices between things that are true and then somehow ossified into...more
The tragic and widespread effects of COVID-19 continue to unfold on a daily basis. The pandemic’s impact from both a public health and economic perspective has been literally unfathomable. For commercial real estate owners,...more
Federal Reserve Announces the Inclusion of Legacy CMBS In the TALF Program - On April 9, 2020, the Federal Reserve announced that the Term Asset-Backed Securities Loan Facility will now include certain legacy commercial...more
One of the good things about the 24/7 news cycle, perhaps one of its few positive externalities, is that it’s a boon for the pontification business. It enables all sorts of otherwise serious people to make fools of themselves...more
In order to avoid burying the lead, let me tell you where I’m going here. The CRE securitization business is in trouble. We need to throw out what biologists call the punctuated equilibrium, where once a system initially...more
Contagion, at least of the buggy sort, can make for a terrific, spooky movie. Remember Gwyneth Paltrow and Matt Damon in Contagion? (Spoiler alert – she dies early on.) Got to admit, I love The Stand and Captain Trips; we all...more
Recently, I heard a parent express concern that her child had been encouraged by the school music teacher to switch from violin to viola because the orchestra needed more violas. For switching to viola, the child would...more
Morningstar has published a proposed method for rating single-asset/single-borrower (SASB) transactions. The new approach is slated to replace the “U.S. CMBS Subordination Model” with respect to SASBs and other forms of CMBS...more
Although at first glance the underlying technology behind Bitcoin and mortgaged backed securities have little in common, blockchain technology has the potential to revolutionize securitizations because it permits value and...more
South Beach played host to the 2018 CREFC January Conference last week, as roughly 1,800 of our best friends in the CRE lending and securitization industry assembled in Miami to reflect on another year gone by and to muse...more
Commercial real estate borrowers often need financing in amounts exceeding what traditional first mortgage lenders will provide. Profound changes in various forms of subordinate finance have occurred in the wake of the...more
The CMBS industry is not attracting repeat borrowers in sufficient numbers and must improve the performing borrower experience if it’s to survive. Our Finance Group presents the results of our survey of players in the CMBS...more
When this Chapter was published in the preceding edition to this book in 2012, the main focus of the discussion on intercreditor agreements was the A/B intercreditor as such senior/junior lender arrangement was, and for the...more
As highlighted throughout this book, a significant development in the capital markets over the last two decades has been the arrival of real estate debt on the global stage as an asset class in its own right. Based on its...more
In late 2011 and early 2012, the fragile green shoots of recovery began to peek out from the barren blasted heath of the crisis-blown financial markets. Market activity was spurred by a rare confluence of secular trends,...more
CRE has been an increasingly important asset class for Islamic-compliant transactions and banks since the publication of the first edition of this book in 2006. During this period, Islamic-compliant finance has proved to be...more