Mr. Buyside

Are the 'Sharks' Waking Up?

Mr. Wall Street, thanks for your comments. Would you happened know the allocation of their portfolio to the post 2005 vintage CMBS. Recent loss estimates on this part of CMBS universe are at 6-7% and some people even suggest that AJ tranches could be wiped out in a prolonged recession, which implies over 12% loss for a typical deal. Was AHR buying dupers with 30% enhancement? If not, then their portfolio might be indeed worthless. Do they publish their portfolio?

Also, what do you think is going to happen to the commercial RE in the next 12 months?