Direct Issuance Transactions Can Become a Viable Alternative Model for CMBS Deals, Expert Says
August 11, 2017
In the new world of risk retention and commercial real estate securitization, direct issuance could be a potential financing alternative should third-party risk-retention capital become inadequate to meet demand, according to a CRE debt market expert. Direct issuance and other alternative types of transactions may become increasingly viable in addressing the difficulty of refreshing on an ongoing basis the amount of capital necessary to float the commercial MBS industry, said Rick Jones, a partner with Dechert and co-chair of the firm’s finance and real estate group. Jones cited...