Just a couple of weeks ago, Trepp noted in a new report that smaller balance CBRE loans might be better bets for investors.
According to the firm, CMBS loans below $50 million used to be more in danger of delinquency than loans at or above $50 million. And yet, July showed an inversion of that standard, only the third time in 13 years it has happened. The previous times were July 2012 and June 2020, each one in a period of economic distress.
It's good to look at counter-trends when they come about because they are often a sign of when you can move against the stream and pick up some value.
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