New CMBS conduit piles on office exposure
Commercial real estate lenders have filled over half of the pool of a new conduit CMBS with office loans, a sector that is drawing increased credit concerns, while also plugging the portfolio with higher than average volume of multifamily properties, an asset type which is seen as one of the strongest.
CMBS lenders have stuffed conduit pools with more office collateral this year, as headwinds in the retail sector weigh on investor appetite for loans backed by those properties.
The $1.13bn BANK 2017-BNK8 deal has even more office collateral than the average seen this year, however, with 52.9% of
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