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Volume 1 - Number 18 | December 22, 2004
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TOP STORY: Fitch Predicts “Stable To Negative” 2005 For CMBS Industry
By Bennett Voyles
If Fitch Ratings Service analysts are right, this year’s eternally sunny skies in the CMBS market are likely to give way to cloudier conditions in 2005. In a Dec. 7 conference call on Fitch Ratings’ outlook for 2005, analysts forecast continued strong performance for CMBS next year, but sounded a distinct note of caution in each of the major property types.
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Insider: Dominion Bond Ratings’ Erin E. Stafford
By Erika Morphy
The industry typically looks to the top 10 CMBS loans as a measure of its overall health and liquidity. So Dominion Bond Rating Service recently decided to examine the next tier of loans—that is, loans 11 through 20—to see if the industry had been missing anything in its earnest focus on the top 10. The results? Less than reassuring, says Dominion analyst Erin Stafford.
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What's Hot, What's Not: Deutsche Bank's Berkshire Deal
By Erika Morphy
This acquisition, which folded Berkshire Mortgage’s origination and servicing business into Deutsche Bank’s global commercial real estate group, closed in October when Deutsche Bank acquired substantially all of Berkshire Mortgage's origination and servicing assets. Since then the merger of operations has gone smoothly, says one insider.
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Canadian CMBS Market Looks Strong For 2005
By Bennett Voyles
Canadian commercial mortgage analysts and lenders anticipate that 2005 will be another strong year for CMBS loans north of the border. “I think everyone is optimistic up here,” says Louis Neretlis, an analyst at RBC Capital Markets in Toronto.
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