The Commercial Public Debt Market

December 1995, Vol 20, No 3


Abstract: The emergence and growth of the CMBS market will potentially change the way real estate entities manage their balance sheets in much the same way the creation of the commercial paper market changed how corporations finance their needs. The authors address both the benefits and issues of the increased liquidity this vehicle creates. Various structural impediments are also reviewed in the context of risk and reward along with potential solutions.