According to a recent report by ""DebtX"":http://www.debtx.com/default.asp, a full-service loan sale advisor based in Boston, the aggregate value of DebtX-[IMAGE]
priced commercial real estate (CRE) loans that collateralize commercial mortgage-backed securities (CMBS) inched up to 76.6 percent as of May 28, 2010, rising slightly from 76.4 percent in April.
""US CMBS collateral prices increased again in May,"" said DebtX CEO Kingsley Greenland. ""A flattening Treasury[COLUMN_BREAK]
yield curve due to a flight to U.S. government securities more than offset a deterioration of commercial real estate fundamentals and a widening of credit spreads.""
Despite the month-to-month increase, loan prices were still down on a year-over-year basis. During the same month last year, the aggregate value of DebtX-priced CRE loans collateralizing CMBS came in at 77.6 percent.
In May, DebtX priced 58,901 CRE loans with an aggregate principal balance of $691 billion. These loans, which collateralize 630 U.S. CMBS trusts, all received a DXMark--the first objective valuation of commercial real estate portfolios based on actual secondary market loan sales executed at DebtX.
The company said its CMBS loan pricing analysis is part of DXMarket Data, a subscription services that provides loan buyers with insight about transactions executed through DebtX. This data has seven different components, including nonperforming loan sale prices, bank watch, secondary loan market commentary, CMBS loan collateral prices, asset valuation spotlight, secondary loan market liquidity, and CRE capital markets observations.