Check the auction houses. I have seen a few auctions of notes from various auction houses. They offer individual notes (backed by commercial real estate) in auction format. They may or may not be tenant based. The good news is each is separate and not a slice of a package so you can determine who the tenant is and their credit rating.
I saw several web sites after googling "notes for sale". See if they offer individual commercial notes.[ Edited by real_estate_now on Date 02/14/2011 ]
If you have the address of the property (and not too many suites), you may be able to look up by address and see who is at that address - yahoo locals, online phone books. May be a little dated, but once you have the phone# then you can call (or have someone call) each one to see if they are still at that address.
Then lookup the tenant rating from credit rating database with an unlimited credit lookup subscription.
Well, if it is those large companies, their credit rating is easily available and you just need to pay for 2 business credit reports (probably even get it for free). Then, you just need to decide if you want to check if the tenants are still at those locations and the terms of their leases.
Are you trying to find CMBS that have such tenants so you can purchase/broker/do whatever with them?
A national or large regional tenant with excellent credit.Although local tenants may also have excellent credit,oftentimes better than their national counterparts,only the larger companies are called credit tenants.
Check the auction houses. I have seen a few auctions of notes from various auction houses. They offer individual notes (backed by commercial real estate) in auction format. They may or may not be tenant based. The good news is each is separate and not a slice of a package so you can determine who the tenant is and their credit rating.
I saw several web sites after googling "notes for sale". See if they offer individual commercial notes.[ Edited by real_estate_now on Date 02/14/2011 ]
I am trying to go the other direction. If I have the CMBS deal name, I can look up all the notes that are pooled in that deal.
Do the notes list the tenant?
Often on commercial mortgages, the tenant is listed and the amount of space they occupies depending on the system.
Here is a thought:
If you have the address of the property (and not too many suites), you may be able to look up by address and see who is at that address - yahoo locals, online phone books. May be a little dated, but once you have the phone# then you can call (or have someone call) each one to see if they are still at that address.
Then lookup the tenant rating from credit rating database with an unlimited credit lookup subscription.
Too painful.. imagine:
50 CVS loans
75 Walgreen loans
etc
Well, if it is those large companies, their credit rating is easily available and you just need to pay for 2 business credit reports (probably even get it for free). Then, you just need to decide if you want to check if the tenants are still at those locations and the terms of their leases.
Are you trying to find CMBS that have such tenants so you can purchase/broker/do whatever with them?
A national or large regional tenant with excellent credit.Although local tenants may also have excellent credit,oftentimes better than their national counterparts,only the larger companies are called credit tenants.