$1.6 billion loss may await U.K. CMBS buyers

10/22/2009 | Bloomberg

The first of Britain's commercial mortgage securities to go into liquidation could hand losses as high as $1.6 billion to those who invested in them. During the next three years, the institutions that invested in these kinds of bonds, mostly pension funds, banks and insurance companies, stand to take losses that could run as high as $52 billion on European CMBS issues. "If they're not nervous now, then they've been hiding under a rock," said Hans Vrensen, interviewed by Bloomberg News just before he departed from his position as head of European securitization research at Barclays Capital.

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