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Will Life Cos. Take Over for CMBS?

LOS ANGELES—Life companies are stepping in to pick up the CMBS debt that needs to be refinanced, but not every loan is a fit, GlobeSt.com reports in this EXCLUSIVE story.

Auto Mall PSRS recently secured funding for this auto mall development in Playa Vista.

LOS ANGELES—We are about the hit the 10-year anniversary of the last cycle peak, and while some people are wondering how much longer this can last, capital markets experts are busy trying to refinance the 10-year CMBS debt that is coming due at the end of the year and in 2017. Antonio Hachem, VP and loan officer at PSRS, a life company correspondent, tells GlobeSt.com that the life companies are picking up a lot of the debt from former CMBS clients, and a lot of those clients are paying prepayment penalties to get in before its too late. To find out more about how life companies are stepping in to take over for CMBS, which dominated in the last cycle, we sat down with Hachem for an exclusive interview.

GlobeSt.com: Will life companies be able to accommodate the CMBS debt that needs to be refinanced this year and next year?

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Kelsi Maree Borland

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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