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June 02, 2014
“There is a lot of appetite, because there are a lot of lenders out there. All of the big players in retail have been very active in refinancing. The environment is very attractive.”
- Fredric Altschuler, a senior counsel with Cadwalader who focuses on real estate financing, commenting in Mortgage Observer about why retail landlords around the country are increasingly turning to commercial mortgage-backed securities to finance properties in secondary markets as an alternative to traditional loans. Altschuler recently worked with Simon Property Group, the largest U.S. mall owner, on 10 CMBS transactions totaling more than $800 million on shopping centers located in New Mexico, Kansas, Virginia, California, Illinois, Iowa, Pennsylvania, Tennessee and New Jersey.