RT Journal Article
SR Electronic
T1 CMBS and the Real Estate Cycle
JF The Journal of Portfolio Management
FD Institutional Investor Journals
SP 105
OP 111
DO 10.3905/jpm.1999.319735
VO 25
IS 2
A1 Susan Hudson-Wilson
A1 George J. Pappadopoulos
YR 1999
UL https://pm-research.com/content/25/2/105.abstract
AB Knowledge of market economic cycles and the relationship of specific property type performance characteristics is crucial to the proper evaluation of commercial mortgage-backed securities. Loan pools that appear equally well diversified may, in fact, behave quite differently. In this article, the authors show that unexpected and undesirable results may occur if a full range of specific market level factors are not considered and appropriately modeled.