TOP STORY: Basel II Could Change Relative Pricing While the final models are still being calculated, CMBS risk experts are already planning for shifts in how investors price different tranches when the Basel II bank accord takes effect in 2007.
INSIDER: New York Life Investment Management's Andrew Parower The buy-side story for CMBS is a simple one these days: lots of volume and increasing allocations by both established and new players entering the space. An active player in the former group, New York Life Investment Management LLC, or NYLIM, buys across the entire curve.
What's Hot, What's Not: Hotels, Shopping Centers What's Hot: Full-service hotels in Ft. Worth, TX—actually, hotels in general are staging a comeback, according to Moody's Investors Service's second-quarter 2004 CMBS report.
Sector Watch: Office Loans The good news is that the office sector may finally be coming back. The bad news is that the office loans—and, by association, office CMBS—might not be.
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