---
title: Record CMBS defaults, but look at the bright side...?
description: "Commercial Property Recovers in U.S. as `Tsunami of Distress' Fails to Hit 
  By   Brian Louis and David M. Levitt    
 From Manhattan office tower"
---

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# Record CMBS defaults, but look at the bright side...?

Posted by [Daniel Jones](https://www.fair-assessments.com/blog/author/daniel-jones) on Feb 4, 2011 4:51:00 PM

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# Commercial Property Recovers in U.S. as `Tsunami of Distress' Fails to Hit

By *Brian Louis and David M. Levitt*

From Manhattan office towers to apartments in Florida to retail properties in Washington, commercial real estate values are rising, defying predictions of a collapse that would drag the U.S. economy back into recession.

Prices of commercial properties sold by institutional investors surged 19 percent in 2010, the second-biggest gain on record, according to an index developed by the MIT Center for Real Estate. Investments in office properties, the largest part of the market, more than doubled last year to $41.6 billion, according to Real Capital Analytics, Inc. which tracks commercial property sales globally.

Near record-low interest rates are luring buyers with the prospect of cheaper financing and higher returns. Lenders are beginning to sell distressed properties and loans as rising earnings give them a cushion to absorb losses. Investors, convinced the worst is over, have pushed prices on commercial mortgage-backed bonds to the highest level in two years...

[http://www.bloomberg.com/news/2011-02-04/commercial-property-recovers-in-u-s-as-tsunami-of-distress-fails-to-hit.html](http://www.bloomberg.com/news/2011-02-04/commercial-property-recovers-in-u-s-as-tsunami-of-distress-fails-to-hit.html)

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