28.07.2016 22:26:00
|
Moody's: Mid-year 2016 defeasance increases as a share of new issuance
New York, July 28, 2016 -- Defeasance activity as a share of new issuance reached 31% in the first half of 2016, up from 24% in the first half of 2015, Moody's Investors Service says in its mid-year 2016 defeasance report. A highly competitive CMBS loan origination market, a large number of outstanding loans nearing maturity (the sweet spot for defeasance), sustained gains in commercial real estate markets and low interest rates have combined to provide favorable conditions for defeasance activity through the remainder of this year.