CMBS
topic on 1 show · 2 statements across 2 episodes
2 statements about CMBS, every show
Brosens: Taconic bought 25% of all CMBS trust default-rights securities
“And so we ended up aggressively buying literally 25% of the entire market in those securities and built a real estate business around that opportunity set.”
Lippmann: Pairing interest-only CMBS with credit-sensitive bonds creates internal hedges
“One interesting trait to do in commercial mortgages is to buy interest-only securities, where if there's a delay in the refinancing of a property, the value of those soars, because they only get interest, and as soon as the property is refinanced, they're shut…”