How the CMBS surge is fueling NYC’s biggest deals

Two large commercial mortgage-backed securities issuances topped the city’s real estate loans last month, reflecting the continued strength of the CMBS market.  Although CMBS loans from private lenders declined in the second quarter, a total of $59.55 billion in CMBS debt was issued in the first half of the year, a 35 percent increase from a year earlier and the largest volume in more than 15 years, according to Trepp. Blackstone and Fisher Brothers’ 1345 Sixth Avenue scored the largest CMBS loan, for $850 million, at the same time that Blackstone bought a 49 percent stake in the Midtown office […]This article originally appeared on The Real Deal. Click here to read the full story.