The aggregate value of commercial real estate loans priced by loan sale advisor DebtX grew for the seventh consecutive month in June.
The firm says the value of the CRE loans it priced increased to 88.4% in June, up from 88.2% in May and 84.9% a year earlier.
DebtX during the period priced 54,946 CRE loans, all of which had an aggregate principal balance of $766.1 billion. The loans in the survey collateralized 742 U.S. CMBS trusts.
"Commercial real estate loan prices rose for a seventh straight month in June and have continued the upward trend of the past 15 months," said DebtX CEO Kingsley Greenland. "Rising prices have prompted a growing number of sellers to take advantage of liquidity in the marketplace. It remains a good time to sell due to strong investor demand."
Trepp Analytics also believes CMBS loans concluded the month of July on a relatively high note. "Despite the lackluster finish, July will be fondly remembered by investors," Trepp Analytics wrote.
"In July, the CMBS market began to put some distance between itself and the broader financial markets," the CMBS research firm said. "To be sure, equities in the U.S. had a banner month. However, even on days when the U.S. stock market waned or negative headlines hit the wires, the CMBS market managed to hold its ground."