Lending of all types is returning, although, it is still limited and to some extent, still bifurcated. CMBS 2.0 is starting to ramp up again, although it is likely not to exceed $40-45 billion this year. The first pool of 2012 should happen very shortly with four others to follow soon after. The size is likely to stay around $1.0-$1.2 billion per pool. Average loan size will most likely stay moderate and be around $25-$35 million, with an average of about 50 to 60 loans per pool. There is not likely to be a lot of very small conduit loans this year. There will probably be fewer of the single asset or single borrower, mega loans than there were. However, the total volume will remain far below what is required to refinance the maturing loans of both CMBS and bank loans. There are not a lot of CMBS lenders active at the moment, but several are sitting on the side at the moment waiting to see how the market and the economy develop over the next few months.
Read more...GlobeSt.com - Lending Is Returing Carefully And With Limits - The Ross Rant Article