The aggregate value of commercial real estate (CRE) loans priced by DebtX that collateralize commercial mortgage-backed securities (CMBS) increased to 81% as of Aug. 31, from 79.4% as of July 30. Loan values were 77% at the end of August 2009.
In August, DebtX priced 57,586 CRE loans with a $679.1 billion aggregate principal balance. The loans collateralize some 626 U.S. CMBS trusts, DebtX says.
‘A falling yield curve and the strong demand for product contributed to an increase in CRE loan prices in August,’ says DebtX CEO Kingsley Greenland. ‘Both positive price trends more than offset the historically high rates of loan delinquency and default among CRE borrowers.’