NEW YORK–(BUSINESS WIRE)–#KBRA–KBRA releases its Day 1 recap of the CRE Finance Council (CREFC) January Conference 2023. CREFC returned to Miami for its annual January conference, drawing a record attendance of approximately 2,300. Registrants heard the views from various commercial real estate (CRE) finance experts, who discussed the macroeconomic environment’s impact on the industry, as well as potential opportunities. Many participants were seeking clarity and insights on the sector after a volatile 2022, where CRE securitization issuance was down 40% compared to 2021.
In the opening session, it was noted that despite challenges in the broader capital markets, the CRE markets are generally in good standing, from a credit perspective, and commercial mortgage-backed securities (CMBS) pricing is “cheap” compared to other alternatives, which can create real opportunities for the right capital.
The remainder of the day primarily consisted of closed CREFC forums, as well as a separate session on macro trends and the effects on CRE. The forums included: GSE/multifamily, investment-grade bondholders, servicers, portfolio lenders, B-piece investors, alternative lender and high-yield, and issuers. While several of the forums included discussions on property type fundamentals, other themes centered on the following: Interest Rate Caps and Duration, Special Servicing—Loan Transfers and Extensions, and Underwriting and Property Valuations.
Click here to view the recap.
- CMBS Trend Watch: December 2022
- CMBS Loan Performance Trends: December 2022
- CMBS ARAs: Nearing an Inflection Point?
- Nearly 75% of SASB Rate Caps Below Prevailing Index Margin
- CMBS 2023 Sector Outlook: Continued Uncertainty
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