2022 U.S. CMBS Outlook: Sustained Rebound Will Continue to Buoy the CMBS Market
This commentary highlights our view that the U.S. CMBS market had a strong year in 2021, but our outlooks for U.S. property markets and sectors diverge in ways significantly different than in the last recovery. These distinctions have translated into very differentiated recent performances—and outlooks—among U.S. property markets and sectors. The U.S. CMBS market had a strong year in 2021 despite the low volume of new conduit transactions, which was more than offset by a substantial number of single-asset/single-borrower and commercial real estate collateralized loan obligations transactions. The conduit market pulled back significantly in 2021 as the combination of market uncertainty and challenging credit metrics for non-multifamily assets made lending in the sector less attractive for issuers. Broadly, higher quality assets across all sectors will continue to attract competitive terms while lower quality properties may continue to face headwinds.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.