A leg in the stool

Commercial mortgage-backed securities (CMBS) have long been a popular financing technique for non-residential properties along the Gulf Coast, but analysts fret pending maturities and rules set to go into effect at the end of the year could dampen new lending.

“It's been a very important leg in the CRE financing stool,” says Jerry Gisclair, an executive managing director at commercial real estate services firm Colliers International Tampa Bay.
“CMBS deals bring competition to the lending space. It's been very prevalent here.”

But new rules will add an additional layer of complexity, Gisclair and others say.