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Posted on 02/15/2024 6:02:05 PM PST by george76
Good article—thanks for posting.
From the article:
“The loan, which was originated by JPMorgan Chase & Co. before being converted into a commercial mortgage-backed security (CMBS) and sold to investors”
The big investment bank gets their fees, sells the trash to “investors” aka suckers and then laughs at the stupidity of the suckers.
“Institutional investors, such as pension funds, insurance companies, and mutual funds, are significant buyers of CMBS. These investors typically have a long-term investment horizon and are attracted to the diversification, yield, and prepayment protection offered by CMBS.”
These types of institutional investors usually expect some of their purchases not to pay off. They are sophisticated buyers, and are willing to tolerate a 2-3% write-off rate for a 150 basis point boost. They probably balance their portfolios across the risk spectrum.
They’re also big boys, who can afford to take these losses.
cgbg,
You reduced to its essence any business school textbook.
Lol, I worked just down the street from there.
Philly is a cesspool.
…and then Jamie Dimon pretends to be a voice of reason about financial markets.
I keep seeing adverts in various articles, urging me to invest in commercial real estate. "The timing has never been better."
I laugh my ass off.
U nailed it.......
Pennsylvania Ping!
Please ping me with articles of interest.
FReepmail me to be added to the list.
thanks
I was married at the church on the other side of City Hall from that triangle of buildings, a half century ago. A very different time, for sure.
Mark Simone, a great NYC talk show host (and Trump supporter), often mentions the fact that only about half of the people who commuted to work in Manhattan before the Wuhan Flu scam commute there today.
I was born at Lankenau Hospital in 75…
17 of 24 federal agencies use an estimated 25% or less of their headquarters’ office capacity.. The General Services Administration, which manages all federal buildings, was operating at 11%...
US office buildings face $117 Billion debt time bomb: Mortgages due this year threaten to sink US economy as thousands of workplaces remain empty..
https://freerepublic.com/focus/f-news/4207256/posts
“The timing has never been better.”
yeah, for those who are selling ...
Its an ugly building anyhow. Maybe they can use it for the drug shootem up galleries the city wants to set up.
And the wanamakekr building houses an huge pipe Organ which has 28,750 pipes in 464 ranks.
Dr Singmaster fixed my hernia there in 1957.
housing for invaders........watch, the suckers will be the tax payers when the sanctuary cities buy them for this purpose
How many “migrants” can be housed there?
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