The prices of commercial real estate loans underlying CMBS decreased slightly in January, according to DebtX.
During the month, the estimated price of whole loans securing the CMBS universe decreased to 97.1% at the end of January from 97.7% at the end of December 2016. Prices were 99.2% in January 2016. "The slight drop in CMBS prices was driven by a small increase in loans indicated to be non-performing," said DebtX Managing Director Will Mercer.
As of the end of January, DebtX had priced $1 trillion in commercial real estate loans that collateralize U.S. CMBS trusts. The median adjusted loan-to-value remained at 58%, and the median debt service coverage ratio held at 1.51. The median estimated loan yield was 4.4%.
DebtX provides third-party loan valuation services for both public and private clients, as well as analytics and data based on over a decade of secondary market loan sales at DebtX. To learn more, call 617.531.3429 or for information about loan sale advisory services, call 617.531.3400.
DebtX operates a marketplace for loans. Through its loan sale advisory, DebtX maximizes loan sale proceeds for financial institutions and government agencies. DebtX also provides loan valuation, analytics and market data for regulatory and audit purposes.