Commercial real estate debt prices hold steady in November

According to DebtX, prices for commercial real estate mortgages held steady in November. However, the price of non-performing CRE loans fell slightly during this period.

By Thomas Grillo

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Prices for commercial mortgages traded in the secondary market held steady in November, according to DebtX, a third-party provider of loan valuation services.

The estimated price of whole loans backing commercial mortgage-backed securities increased to 92.7 percent as of Nov. 30, from 89.4 percent for November 2012.

Among impaired performing loan prices, the weighted average monthly price was 78.9 percent as of Nov. 30, down from 80.5 percent for November 2012.

The weighted average monthly price of non-performing CRE loans traded through DebtX’s was 48.8 percent as of Nov. 30, down from 52.4 percent in November 2012.

Meanwhile, the Loan Liquidity Index, a monthly barometer of liquidity for pools of loans sold at DebtX, was 107.5, down from 108.8 in November 2012.

“Loans prices in the CMBS universe and impaired performing category were basically unchanged in November, and non-performing loan prices dipped slightly during the month,” said DebtX Managing Director Will Mercer in a statement.

 

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Nick Banks

Nick created Front Street Commercial Real Estate Group in 2002 and spent the first eight years developing and acquiring office and retail projects in South Florida as well as North Central Florida. In 2010 the focus of the firm was shifted to primarily serve third party clients and perform brokerage, property management and mortgage banking functions. Nick has personally developed and acquired nearly 200,000 square feet of office and retail properties in markets throughout Florida. Prior to founding Front Street, Nick was the Director of Finance and Dispositions for Stiles Corporation in Fort Lauderdale where he financed and sold over $500 million in commercial real estate. Before joining Stiles, Nick was an Associate Director at GE Capital Real Estate where he sourced over $200 million in financing throughout Florida. Nick is a graduate of the University of Florida with a degree in Finance and a concentration in Real Estate. He serves as a board member and current vice-chair for the United Way of North Central Florida where he also chairs the Development Committee. Nick is actively involved with the Gainesville Area Chamber of Commerce where he serves as a board member and committee member for the Council for Economic Outreach. He is also a recent graduate of Leadership Gainesville which is a year long leadership program hosted by the Chamber. He is a member of Grace United Methodist Church where he has served as finance chair and as a member of the leadership council. Nick serves as an advisory board member of the University of Florida Bergstrom Center for Real Estate Studies. Nick was recently named chair of the Gainesville committee for the North Florida chapter of Urban Land Institute (ULI). He is a licensed real estate broker in the State of Florida and is a long time member of the International Council of Shopping Centers.

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