Research section
Debt markets, CMBS stress, pricing signals, rate volatility, and capital allocation frameworks.
4 visible articles
The Q1 snapshot remains a historical baseline; the current review uses MBA’s Q2 investor-group levels and Trepp’s August CMBS measures. Credit risk differs by lender, property and failure mode, with office workouts and maturity-driven shortfalls still material.
September’s rate increase changes the financing baseline. Earlier surveys showing better lender competition remain useful dated evidence, but they do not establish cheaper borrowing, larger loans or stronger property values today.
Choose Texas debt by actual cash flow, collateral, business plan and execution conditions. Agency, life-company, bank and transitional capital can serve different assets, but the borrower must meet their proceeds and reserve tests.
Distressed office prices reflect different outcomes: continuing office use, a funded turnaround, conversion, land reuse or unresolved impairment. A low price per square foot alone does not identify an opportunity.
