Weekly CMBS Pipeline Tops $5 Bln

The new-issue commercial mortgage-backed securities pipeline has surpassed the $5 billion mark for the week, and market players are preparing for issuance to dwarf previous annual projections. Investors now peg issuance to hit at least $80 billion for the year, up from initial projections of $60-$70 billion at the beginning of 2013. Investors speaking with sister publication Real Estate Finance Intelligence said they expect this to be the routine going through year-end—heavy weekly conduit issuance, supplemented by one-offs and single borrower transactions.