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Volume 2 - Number 24 | December 27, 2005
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TOP STORY: Tighter Restrictions on Condo Conversion Lending
By Erika Morphy
Lenders are becoming more conservative in underwriting condo conversion projects, especially in markets like South Florida and Las Vegas. But contrary to earlier fears, tighter underwriting has not reduced the overall availability of funding.
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Hotel CMBS Poised for Strong Comeback in 2006
By Erika Morphy
Last month it was the Blackstone Group’s $3.4 billion acquisition of La Quinta Corp. In June, it was its purchase of Wyndham International Inc. for $3.24 billion. And, of course, there was the addition of Extended Stay America and Boca Resorts Inc. to Blackstone’s portfolio last year – transactions that augured a wave of mergers and acquisition in the lodging sector.
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Behind The Deal: Surging Volume of CMBS Securities
By Benjamin Mark Cole
Despite aggressive mortgage lending, a glut of capital in the commercial mortgage markets and natural disasters like Hurricane Katrina, the CMBS market remains healthy and growing, Fitch Ratings reports. The global credit rating agency expects the CMBS market to reach $160 billion in issuances in 2005, up from $95 billion a year earlier.
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