Fitch Ratings

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Fitch: New US CMBS Multifamily Supply Is Increasing Risk of Overbuilding

High-end construction in 12 metros intensifies; Fitch doesn't expect ratings impact. More

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Inventory Should Remain High in 2016

Experts still see apartments being brought to market as pricing sits at all-time... More

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Despite Another Strong Quarter, Questions Ahead for Some REITs

Strong fundamentals, supply concerns, and surprising transactions highlight 3Q takeaways. More

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Fitch says Multifamily Pushing Past Peaks

Add Fitch Ratings to the number of people seeing apartment rents hitting their pre-recession peak. Last week, the New York-based ratings agency said its sector was approaching highs in rent, vacancies and pricing. More

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Megacommunities Continue to Attract, Stymie Apartment Owners and Developers

Multifamily apartment owners and developers weigh placemaking and economies of scale against the increasingly complex operations and vocal opposition to the creation of megacommunities. More

CMBS Delinquencies Continue Relentless Climb

Hotel loans have surpassed multifamily loans for the dubious distinction of highest CMBS delinquency rate, but multifamily's position in the No. 2 spot may be short-lived. More

Smaller Banks are Falling Fast

While the largest banks have been bolstered by TARP funds, equity-raising efforts, and asset sales, smaller community and regional banks are still struggling with balance sheets bloated with bad commercial real estate loans. More

Last Gasp: Capmark Financial's Days Are Numbered

A default is imminent as Capmark Financial Group weighs bankruptcy and a sale of its mortgage origination and servicing businesses. More

Stuyvesant Town and Peter Cooper Village on Verge of Default

A partnership between Tishman Speyer and BlackRock Realty may soon default on one of the largest loans in multifamily history. More

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Fitch Downgrades Colonial, AIMCO

In the past week, New York-based Fitch Ratings has downgraded Denver-based AIMCO and Birmingham, Ala.-based Colonial Properties Trust. The two REITs are saddled with debt levels of about 80 percent, which makes them the two most highly leveraged REITs in the apartment space, according to Green Street Advisors, a Newport Beach, Calif.-based firm that tracks public real estate companies. Fitch downgraded Denver based AIMCO from BBB- to BB+ issuer default rating, essentially dropping it to junk bond status. Last fall, it had moved the company’s outlook to negative. The main issue: AIMCO’s only having less than 10 percent of its assets with unencumbered debt. Its stock has dropped more than 30 percent this year. More

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