About this episode

Eric Smith discusses CMBS financing and its implications in the current market.

Eric Smith is a CMBS loan originator at Deutsche Bank. Over the past 28 years, he has closed more than 1,300 CMBS loans. Our conversation covered many topics, including: - What is CMBS and how does it work? - Why is there a higher concentration of multifamily in CMBS pools today? - What's the role and impact of CMBS rating agencies? - Why is Fitch the primary rating agency? - What is a B-piece? - History of CMBS (1.0 vs. today) - Is CMBS becoming more borrower-friendly post-closing? - ...

People in this episode

Host: Brandon Roth

Guest: Eric Smith

Topics covered

• CMBS financing
• multifamily properties
• CMBS rating agencies
• B-piece
• history of CMBS
• borrower-friendly CMBS

Keywords

• CMBS
• financing
• multifamily
• rating agencies
• B-piece
• borrower-friendly
• history of CMBS

Mentioned in this episode

Organizations: Deutsche Bank, Fitch

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• Ep. 9 Hospitality-to-Multifamily Conversions (Ryan Sudeck - Sage Investment Group) · July 26, 2025 · 34 min
• Ep. 8 Starting a Multifamily Investment Company (Bo Diamond - Caisson Capital) · February 2, 2025 · 42 min
• Ep. 7 - Agency Lending (Paul Lewis - IPA) · September 21, 2024 · 1h 15m

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