Banks ramped up lending to commercial property owners with CMBS issuance poised to climb 50 percent to $70 billion this year, according to Credit Suisse Group AG. (CSGN) Sales had rebounded after plunging to $11 billion amid the credit market seizure in 2008 from a record $232 billion in 2007.And this:
Loan rates for borrowers have climbed about 100 basis points, or 1 percentage point, over the past two months, JPMorgan analysts led by New York-based analyst Ed Reardon wrote in the June 21 report.This passage on commercial real estate prices has plenty of percentages from a couple of property indexes, which I had trouble reconciling, but that showed strong gains in prices over the past year:
Commercial real estate prices increased 0.4 percent in April, and have gained 40 percent since bottoming in January 2012, according to Moody’s Investors Service. The S&P/Case-Shiller index of property values increased 12.1 percent from April 2012, the biggest year-over-year gain since March 2006, after advancing 10.9 percent a month earlier, a report showed today in New York.