LNR Property Corp. plans to offer $1 billion in small-balance commercial mortgage-based securities (CMBS) loans, and Miami-based commercial investment house Steelbridge Capital is among the interested buyers.
Defaults of South Florida properties covered by commercial mortgage-backed securities (CMBS) accelerated in the fourth quarter as aggressive loans made during the boom years went sour.
If real estate watchers think Flagler’s recent $460 million deal signals an immediate resurrection of the commercial mortgage-backed securities (CMBS) market, they will likely be disappointed, experts say.
Did you ever play kick the can when you were a kid? If you didn’t, don’t worry; real estate bankers and commercial real estate owners have a chance to play it again.