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VIDEO: The New Normal

DALLAS-Spencer Levy of CB Richard Ellis chats with ALM's Real Estate Media Group's John Salustri about what to expect in the future CMBS market.

By Ryan Clark | Updated on October 12, 2009

DALLAS-”New normal is in the 65% leverage range,” executive director Spencer Levy of CB Richard Ellis explained at the RealShare Distressed Assets Conference. The recent market follies were an “over reaction to a tremendous amount of capital flooding the space as an epilogue to what happened with the tech space in the 2000s.”

Speaking to John Salustri, editorial director of ALM’s Real Estate Media Group, Levy predicted that CMBS deals will get done soon, most likely by large holders of unencumbered institutional real estate.

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