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| Capital Markets Briefing |
| May 29, 2009 |
Good Afternoon,
Attached is a PDF copy of Colliers Meredith & Grew's interest rate sheet that includes current and historical Treasury, LIBOR and Prime interest rates, which are updated daily with real time data from Strategic Alliance Mortgage.
We provide these updates on a weekly basis to keep our clients and colleagues aware of rate movements. We hope you find this information helpful.
DOWNLOAD INTEREST RATE SHEET (25KB)
The following Market Perspective provides insights and commentary on breaking news and emerging trends in commercial real estate finance.
That the capital markets for commercial real estate debt and equity are credit starved and logjammed is well established. It would be easy to acquiesce to the wisdom of the crowd and rest on one's laurels while waiting for capital to flow more freely, but to do so would be a classic example of not seeing the forest for the trees. The Colliers Meredith & Grew Capital Markets group, in coordination with its affiliates in Strategic Alliance Mortgage LLC, has seen firsthand the easing of the credit crisis in recent weeks and months.
The Capital Markets group recently went out to market with a large construction loan request and the feedback might surprise you; life companies, local/regional banks and credit unions alike are not only in business, but will underwrite and issue terms on construction and construction/perm loans for superior sponsors and viable projects. While the life company spread hovered around 8.0%, this particular portfolio lender would have funded all the capital without need for syndication. The spread was wide relative to historical terms that we all grew accustomed to during the glory years of 2004-2007, but the ability and willingness of a U.S.-based portfolio lender to issue terms on a speculative construction loan request represents a marked improvement in the availability of capital as opposed to even four months ago when the mere utterance of "construction loan" was akin to a four letter word. Colliers Meredith & Grew has also identified a handful of commercial banks - ranging from multi-nationals to locals - willing to take a lead on a syndicated deal.
Despite the doom and gloom that has permeated the industry, terms are still being issued and deals are still getting inked. At Colliers Meredith & Grew, we're looking past the trees and from our vantage point the forest is looking greener.
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S&P Warning on CMBS Ratings Undermines TALF's Buying Plan -- and the Securities' Underlying Assets
FiLife in partnership with The Wall Street Journal — May 27, 2009
Market enthusiasm for the Federal Reserve's plan to help the commercial-real-estate market was doused Tuesday after Standard & Poor's warned that billions of dollars of top-rated bonds backed by commercial mortgages could face downgrades.
Life Insurers Regain Mojo. Is It Bluster?
WSJ.com — May 22, 2009
Life-insurance companies have been strutting their stuff lately. Their shares have surged, and some have thumbed their noses at the government's recent offer of federal funds...But is the new attitude justified?
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| Please contact the Capital Markets Group at Colliers Meredith & Grew with any financing questions.
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Colliers Meredith & Grew is a Boston-based commercial real estate company with integrated service groups including Brokerage, Capital Markets, Counseling & Valuation, Development & Advisory, Investment Sales, and Property & Asset Management. In addition to representing its core clients in New England, Colliers Meredith & Grew provides national and international real estate services to its multi-market clients as a member of Colliers International and as an owner/member of Strategic Alliance Mortgage LLC (SAM). Colliers International is a worldwide affiliation of independently owned and operated companies in more than 293 offices in 61 countries. |
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