Agency Lending Caps Revive CMBS Market
“The federal government puts out allocation every year with Fannie and Freddie, and once they hit that cap, they go into bunker mode and only do deals that fit their mandates, which are typically affordable deals,” Jonathan Lee, principal and managing director at George Smith Partners, tells GlobeSt.com. “So, in order to save their allocation for the year, they are being a lot more conservative on the deals that they do. That is driving a lot of business to CMBS right now.”
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