Monday, April 1, 2013

CRE Fundamentals

Wells posted their CRE Chartbook a few weeks ago (you can request it, and other reports via, which contains an amalgamation of a number of useful charts and data from various sources. They also have some summary commentary on each sector. I pulled out a few interesting charts below:

CMBS is a dwindling piece of the pie, losing 1.7% net issuance during the 3rd Quarter 2012, although GSE deals gained ground.

There are still some problems to get worked out... This chart shows the status of all CRE loans, not just CMBS.

Delinquencies have improved dramatically. (Also all CRE)

Retail prices seem lofty, perhaps JCP should re-evaluate a REIT conversion.


crabsofsteel said...

The delinquency rate is deceptive, as modified B-notes which don't pay any interest are not being counted as delinquent. If you're an AJ not getting interest due even though your pool is less than 10% delinquent as measured by servicers, this is why. That said, I need a new job so anyone who needs a CMBS analyst with Intex programming experience is invited to get in touch.

Jingle Male said...
This comment has been removed by the author.
Jingle Male said...


I found a gig in NYC on the buyside as a CMBS analyst. I think it could be a good fit for you but shoot me an email to to discuss it further.

Either that or post an email I can contact you at.


crabsofsteel said...

Jingle, I sent you a resume. Thanks much ... Crabs