CRED iQ®

Love hearing this from our clients. Big news coming up CRED iQ®!! Happy to walk through a demo of CRED iQ any time with our awesome sales & client success team (dm's open)... Christopher Aronson, Shane Beeson, Jack St. Amour, Adam Krause, Sarah Eckersley, and Nikki Pappadato Kirk

Get updates of real-time distress triggers sent to your inbox everyday. CRED iQ delivers comprehensive coverage of the CRE Universe. Learn more here: https://lnkd.in/edCAQ9vU

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The CRED Thread. Hitting inboxes every Friday morning.

CMBS Underwriting Trends - October 2024 💠 Read our research and charts here: https://lnkd.in/ezSQYDUF

Top Markets with the Highest CRED iQ Distress Rates. Full report here: https://lnkd.in/eCFe6gti Our report yields the CRED iQ® Distress Rate (which combines Delinquent and/or Specially Serviced loans) for the top 50 MSAs with the highest amount of distress out of the largest 65 CRE markets. 

CRE Daily's article with updated data from CRED iQ and quotes from Founder & CEO, Michael Haas -- Worldwide Plaza ($1.2 billion total debt) and its recent default. SL Green (SLG) and RXR Realty, the high-profile owners of a large Manhattan office tower, have defaulted on a $940M loan backed by the property.  As reported by CRED iQ and Bisnow, the loan balance on 825 Eighth Ave., a 49-story Midtown office property near Times Square, will now go to special servicing. According to Michael Haas founder and CEO of CRED IQ, “This could be another prime example of landlords willing to hand the keys back after the loss of a major tenant. It might have a similar outcome to 1740 Broadway where AAA investors could potentially take a loss. Losing Cravath, a 30% tenant by GLA% but 46% of the rent will crush the value of the building. The office component was appraised for over $900/SF back in 2017.” Read here: https://lnkd.in/ejZnw6nR

LET'S GO!!! VERY Proud of our team here at CRED iQ® and the launch of our latest product – N.O.L.A.N. ....which is short for:  Newly Originated Loan Analytics & Notifications Who doesn’t love a good acronym? Fun Fact... our NOLAN system cranked up over 100 loans/properties and close to $1.7 billion of new loans (Just yesterday and this morning alone!!), which are now the freshest comps and underwritten financials the market knows about. A wise man once said, if you're not first, you're last. The NOLAN reports are available in excel download/datafeed or api. 💠 Receive more information about NOLAN here: https://lnkd.in/eyHuNyrZ 💠 Read the full press release here: https://lnkd.in/etTYcGcq Some Highlights: PHILADELPHIA, Oct. 16, 2024 /PRNewswire/ -- CRED iQ, a rapidly expanding data and analytics platform specializing in Commercial Real Estate (CRE) finance, is excited to announce the introduction of NOLAN, a game-changing product offering real-time loan analytics for new CRE loan originations. This innovative product aims to equip industry professionals with the tools they need to navigate the dynamic CRE finance landscape. As the CRE market experiences a surge in new deal issuances, driven in part by falling interest rates, the demand for timely and insightful data has never been greater. NOLAN, short for Newly Originated Loan Analytics & Notifications, addresses this need by delivering comprehensive new issuance data to CRED iQ Enterprise clients in near real-time.

New Issue Alert this morning (emailed to our CRED iQ® members)... BMO's $960M conduit. (link to report): https://lnkd.in/eYKTgBwz Deal Overview The BMO 2024-5C7 CMBS deal is a new issuance securitization for the CMBS market, with a total pooled balance of approximately $959.7 million. The deal is jointly managed by prominent financial institutions BMO, Deutsche Bank, Citigroup, Goldman Sachs, SG Americas, and UBS. The deal is collateralized by 35 loans and secured by 74 properties across a variety of sectors, including multifamily, industrial, and office. The strategic geographic distribution of these properties ensures balanced exposure across major markets. The deal’s weighted average loan-to-value (LTV) ratio of 60.5%, and the weighted average mortgage interest rate is 6.38%. Key Metrics The loan pool for BMO 2024-5C7 is structured to include a mix of amortizing and interest-only loans, with 2.7% of the mortgage pool having scheduled amortization. The remainder of the pool (97.3%) consists of interest-only payments throughout the loan term, offering investors a steady income stream. The pool boasts a weighted average debt service coverage ratio (DSCR) of 1.70x. The weighted average net operating income (NOI) debt yield is 11.3%. Geography & Property Types A key strength of the BMO 2024-5C7 CMBS deal is its diverse property type distribution, which enhances portfolio resilience. Multifamily properties, including high rise, garden, mid rise, and low rise subtypes constitute 51.0% of the total balance, while industrial properties account for 20.9% of the balance. The geographic distribution of the properties across prime markets, including high-growth areas in New York City, Boston, and Atlanta.