TREPP – CMBS Market Week in Review: Oct 7 – Oct 11










‎”Don’t wait. The time will never be just right.”

— Napoleon Hill


Posted on Tue, Oct 15, 2013    Written by Joe McBride, Research Analyst

CMBS investors breathed a sigh of relief on Thursday when a $1.3 billion conduit deal from Morgan Stanley and Bank of America priced in line with deals done last month instead of the Cantor-Deutsche deal that came in noticeably wider last week. The 10 year AAA tranche of this week’s deal priced at 109 basis points over swaps, 6 basis points tighter than last week’s deal. Another big piece of news came from CW Capital on Thursday. The special servicer announced it would be selling $2.6 billion of distressed CMBS assets starting on November 13. Although the assets are confidential, Trepp published a list of loans today that Morgan Stanley identified will be on the block, although CW Capital has not yet confirmed.

Equities started last week in free fall, dropping 1-2% both Monday and Tuesday over debt ceiling and shutdown fears. Janet Yellen’s nomination as the next Federal Chairperson helped calm the markets on Wednesday and news of progress in the debt ceiling talks on Thursday sent the markets barreling higher. All in all, the major indices ended the week up 1-1.5% and the federal government is still shut down.

CMBS spreads managed to avoid most of the negative movement early in the week and latch on to the positive momentum on Thursday and Friday. Legacy LCFs and AJs ended tighter by a basis point or two while yields on the ten year treasury widened 6 to 7 basis points.




$120 m

162 bps


$200 m

163 bps


$800 m

162 bps


$900 m

160 bps


$50 m

160 bps











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Walter Unger CCIM, CCSS, CCLS

I am a successful Commercial Investment Real Estate Broker in Arizona now for 15 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial landspecialist in Phoenix and a Landspecialist in Arizona.





we are at on the a rise of the cycle in Commercial Real Estate.  so there is only one way and it’s called we are going up and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix.  The prices on deals I may get you will not be around forever.



  We barely could give land away the last few years, but times are changing.  Even in those meager years, I sold more land across the state than most other brokers. Before the real estate crash I was a land specialist in Arizona with millions of dollars of transactions, but then I had to change and also sell other commercial investment properties, which was fun, but I am a Commercial Landspecialist in Arizonal, a Commercial Land Specialist in Phoenix and love to sell land, one acre to thousands of acres.


If you have any questions about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona,  I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us. 


Please reply by e-mail or call me 520-975-5207 (cell)  602-778-5110 (office direct).




Thank You



Walter Unger CCIM

Associate Broker

Kasten Long Commercial

2821 E. Camelback Road, Suite 600

Phoenix, AZ 85016

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