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CMBS are an important segment of the real estate debt markets which reduce the commercial property sector s dependence on bank financing. Until the advent of the credit squeeze in Q3:2007, the CMBS market was one of the most dynamic and fastest-growing sectors in the capital markets, for a market which was virtually non-existent prior to 1990. Very little academic literature exists on the development and structuring of Australian CMBSs. Through a cogent review and explanation of features of international and Australian CMBSs, the book provides a better understanding of the status and changing…mehr

Produktbeschreibung
CMBS are an
important segment of the real estate debt markets
which reduce the commercial property sector s
dependence on bank financing. Until the advent of
the credit squeeze in Q3:2007, the CMBS market was
one of the most dynamic and fastest-growing sectors
in the capital markets, for a market which was
virtually non-existent prior to 1990. Very little
academic literature exists on the development and
structuring of Australian CMBSs. Through a cogent
review and explanation of features of international
and Australian CMBSs, the book provides a better
understanding of the status and changing nature of
the Australian CMBS market. Artificial neural
networks and ordinal
regressions are used as alternative methods to
determine CMBS credit ratings. Surveys on Australian
CMBS arrangers and issuers provide insights into
structuring issues they consider necessary to obtain
a high credit rating and pricing issues necessary
for the success of an issue. The findings of this
book can be useful to revive the frozen Australian
CMBS market, and should be especially useful to
students and professionals in property investment
and finance.
Autorenporträt
Dr. Bwembya Chikolwa practiced as a registered Property Valuer
in both private and public sectors for over 12 years before
joining academia. From 2007, he has been with Queensland
University of Technology in Brisbane, Australia, teaching and
researching property investment and finance, and project and
infrastructure finance.