NEW YORK CITY-Citigroup Inc. and Goldman Sachs Inc. will be selling commercial mortgage-backed securities worth $788.5 million. This was reported in a term sheet that was sent to its investors. This is the sixth issue of CMBS since the market opened last December.
There is a huge demand for CMBS, as over $1.2 trillion of commercial property loans are expected to mature in the next few years. This year alone CMBS worth $1 billion have been sold compared to none in 2009. For the full story, go to Reuters.
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