Interest in Secondary Markets Spurs New DebtX Service
Carl Gaines July 10, 2012, 9:48 a.m.
Loan sale advisor DebtX said Monday that it was expanding its offerings with a new subscription-based service that will give clients data about the secondary market for commercial real estate loans. DebtXData, which CEO Kingsley Greenland told The Mortgage Observer is currently up and running, will draw on the company’s stable of current and historical CRE loan price information at a crucial time—as commercial real estate continues its slow return to health.
“As interest in CRE loans as an asset class grows, certain levels of data are valuable,” Mr. Greenland said. He added that this interest hasn’t grown immediately, but rather over the last decade, and that the increase in liquidity that has come with it causes a need for more valuation tools.
Mr. Greenland was quick to add that the service provides more than just facts and figures. “It’s in a PDF and it’s more insightful than just raw data,” he said. “We’re selling information about how loans are priced.” Included is a quantitative measure of the market’s liquidity, commentary and analysis and new origination spreads.
It’s a flow of information that comes at an auspicious time. The CCIM Institute reported in early July that interest in secondary markets like Nashville, Tenn. and Charlotte, N.C. was on the rise, as investors expand their reach. Despite the move to secondary markets, though, multifamily remains the desired asset type, with an investment conditions rating from CCIM of 7.5 out of ten.