The commercial mortgage-backed securities (CMBS) market disappeared over the past few years when the credit crisis hit. The recession then made matters much worse, when businesses started having trouble making their mortgage payments. We recently learned that commercial mortgage delinquencies continued to climb in the first quarter. Yet, the market appears to be coming back -- though very slowly. There have been a few tiny deals, which were likely highly pristine. Here's a good description of the crawling-pace of the market's recovery, via the New York Times:
"Compared to a year or two ago we've come a long, long way," said Ross Moore, an executive vice president of the real estate services firm Colliers International. "The fact there's even discussions taking place -- that's a big step forward. Are we making progress toward restarting the C.M.B.S. market? Yes, I think absolutely."
Read the full story at New York Times.
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