NEW YORK CITY-JPMorgan Chase’s upcoming $716.3-million CMBS issue, the second conduit package to go on the market this year, is getting high marks from ratings agencies despite risks attached to some of the underlying loans. There will be more such conduit deals as 2010 progresses, says the CRE Finance Council, provided that transaction volume picks up.

“A big part of seeing new CMBS issues is going to be more properties trading hands and those that are maturing getting refinanced,” Pat Sargent, president of the association, tells “We’re starting to see that, but because of the valuation drops, you’re going to have to have new equity in a number of cases.”

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