Chris Moyer

NEW YORK CITY–The spread between the 5-year and the 10-year Treasuries is the tightest it has been since August 2007, resulting in all-in commercial real estate borrowing costs that are nearly indistinguishable at different terms. A year ago the spread was about 50 basis points, Cushman & Wakefield Managing Director Chris Moyer tells Today that spread is around 15 basis points. The result has been borrowers opting for longer-term money because, after all, there is no real savings benefit to taking out a five-year loan, regardless of the deal at hand.