The CMBS market appears to be looking up performance-wise, but there may be less of it in terms of outstandings, and despite stronger originations, according to a new report from Moody's Investors Service.

On a total amount outstanding basis, “the balance of CMBS is shrinking. In recent months there have been more loans paying off and resolved than originated,” said Tad Philipp, director of commercial real estate research at Moody's.

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