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London Sale Tagged As CMBS Health Guide July 30, 2010

-- Daniel O’Leary
A major West End of London property sale is being tipped as a yardstick to gauge the health of commercial mortgage securitizations backed with similar collateral. Derwent London, a specialist U.K. property investment trust, scooped up two properties with an average rent of £34 ($53) per sq ft, or a net yield of 5.5%.
The sale is key for CMBS because the market has been plagued by illiquidity and a lack of information. “Even in the good times, CMBS was never that highly traded. It’s an asset that investors buy to hold,” ...

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