DebtX: Commercial Real Estate Loan Prices Stable
Prices for Commercial Real Estate (CRE) whole loans securing the US CMBS universe rose modestly in January, while impaired performing and non-performing loans sold through Boston-based DebtX declined slightly.
“CRE loan pricing was mostly flat in January,” said DebtX Managing Director Will Mercer. “The modest increase in loan prices securing the CMBS universe was primarily due to improving loan-to-value ratios, despite the upward shift in the yield curve.”
DebtX’s DebtXData offers historical and current CRE loan prices, a quantitative measure of secondary market liquidity, new origination spreads, market commentary and analysis of selected trades transacted at www.debtx.com, the liquid exchange for whole loans.
DebtXData reported the following for January 2013:
- CMBS loan pricing.
The estimated price of whole loans securing the US CMBS universe increased to 89.2% as of January 31, 2013 from 89.0% as of December 31, 2012. Loan values were 86.4% on January 31, 2012.
- Impaired performing loan prices.
The weighted average monthly price of impaired performing loans traded at DebtX’s marketplace was 80% in January 2013, down from 80.5% in December 2012. Prices were 71.3% in January 2012.
- Non-performing loan prices.
The weighted average monthly price of non-performing CRE loans traded at DebtX’s marketplace was 52.3% in January 2013, down from 52.6% in December 2012. Prices were 42% in January 2012.
- Marketplace liquidity.
The Loan Liquidity Index, a monthly barometer of liquidity for pools of loans sold at DebtX, was 105.9, down from 108.2 in December 2012. The Index was 96.2 in January 2012.
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