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Dan McNamara & Michael Gayed: Unveiling the Future of Retail & Commercial Real Estate

Lead-Lag Live

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How to Manage Liquidity in the CMBS Credit Market

There's not a ton of liquidity in the CMBS credit market. The bigger players don't necessarily play down because they can't size them and they can't scale it. For us, we'll never use more than internal leverage and we just don't believe that we need it. People sometimes don't realize the embedded leverage in these tranches.

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