CANNES-One of the last sessions at MIPIM here might be the most telling in terms of the state of the debt markets. It offered a comparison of the US and European debt situations and offered some projections as to where the European market can go.
Steve Renna of CREFC pointed out that, stateside, CMBS is chugging back at a good clip. Some 18.5% of US mortgage debt last year was in the form of CMBS (roughly half was through banks).
Matt Bornstein of Deutsche Bank Securities, one of the largest CMBS issuers, put the potential for CMBS at $100 billion this year (at the end of Q1, he indicated, it was already at $26 billion.)
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
