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13min chapter
264. Firms Commit to Deploy Dry Powder, Banks Begin to Sell NPLs, Delinquency & SASB Update
The TreppWire Podcast: A Commercial Real Estate Show
Analysis of 1740 Broadway Deal and AAA Bond Losses in SASB Market
The chapter provides an in-depth analysis of the 1740 Broadway deal incident leading to AAA bond losses in the SASB office market, exploring data on outstanding SASB deals, collateral balance, and delinquent loan percentages. It delves into downgrades of AAA bonds, challenges to historical modeling assumptions, and ongoing debates regarding AAA ratings for single asset-backed mortgage pools. The discussion covers Blackstone's 2024 issuance, compares delinquency rates of Conduit and SASB deals, discusses potential market behavior changes, and highlights considerations for deal ratings stability with shout outs to engaged listeners and upcoming engagements.
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Discover
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