Recently, I have been seeing an unusual amount of "re"financing activities for commercial assets located in NYC. I believe this can be somewhat related to the record amount of CMBS loan maturities this year and the expectation of imminent rate hikes. But knowing that there are better, more accurate, and more intellectual explanations on this issue, I want to ask what you guys think about this...
thx!
It's also related to the fact that if you can't sell, as the market has slowed down, you refi. Many LL have realized they won't be able to sell for the price they want, so they refi
x2, there was an article on this in commercial observer recently
I totally forgot about that aspect. But wouldn't it be a better option to cash out before the cap rate decompresses? Which seems very likely at this point.. thx!
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