Commercial mortgage-backed securities (CMBS) lending has become more popular as more lenders compete for businesses. As these lenders enter the CMBS market, loans known as "floaters" are becoming available. Borrowers are sometimes willing to pay a higher interest rate in order to borrow significantly more capital. And CMBS loans are traditionally nonrecourse, which is appealing to borrowers.
"The [lender] clients that we’re seeing that have been in the space are having a tougher time getting deals," said Financial Services Attorney Joseph Steinberg. "There are more lenders willing to do these floating-rate, short-term loans."
Please note that email communications to the firm through this website do not create an attorney-client relationship between you and the firm. Do not send any privileged or confidential information to the firm through this website. Click "accept" below to confirm that you have read and understand this notice.