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Blog (15)
August 24, 2026
Philadelphia, PA. $368 Million SASB Loan (JPMCC 2020-MKST) faces total loss after judge approves sale. The sale of Philadelphia’s largest office complex of 1.8 million square feet located at 1500 Market Street has been approved for sale for $70mm ($39/sf) to a group led by Dean Adler. The intent is to convert the two towers to […]
August 12, 2026
The beleaguered 2.4 million square foot Destiny USA mall owned by Pyramid Development and located in Syracuse, New York ($430 million JPMCC 2014-DSTY) is anticipated to soon deliver over $350 million in losses to the CMBS bondholders, including an estimated write off ~60% of the AAA bonds. The losses are being driven by a heavily discounted […]
July 1, 2026
Heading into America’s 250th, CMBS issuance for June is a scorching $16.5 billion, the month’s highest amount since 2016, putting 1H private-label issuance at just shy of $100 billion. Demand is strongest across the stack for high-quality SASB. Happy 4th.
June 22, 2026
Former Fed Chair Alan Greenspan (1987-2006) died yesterday at 100. He served under four presidents and oversaw the largest expansion of the U.S. economy led by a remarkable bull-market fueled by low interest rates and low unemployment. He may be best remembered for coining the phrase “Irrational Exuberance” to describe the dot com bubble in […]
June 18, 2026
Leading his first FOMC meeting, Chairman Warsh walked a tightrope, voting with his unanimous board to hold rates steady at a target range of 3.5% – 3.75%. Equities slumped on the news and the 10 Year Treasury held steady at 4.45%. However, the forward curve suggests a quarter point increase by year-end and possibly as […]
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