Key Takeaways
- CMBS origination takes 60-90 days; the loan then enters a 60-120 day warehouse before securitization.
- Institutional fund commitment takes 3-6 months from initial screening to capital commitment.
- Market volatility can close CMBS issuance windows rapidly; rate locks have limited durations.
- Institutional closings cluster at quarter-end and year-end.
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Test Your Knowledge
1.What is the typical timeline for closing a CMBS loan?
2.What is a rate lock in CMBS execution?
3.What is market timing risk in institutional real estate transactions?