Chiswick Park returns as CMBS hunt hots up

Investors on both sides of the Atlantic are ramping up their interest in German multi-family CMBS, driving spreads for senior bonds in Grand (German Residential Asset Note Distributor) back to par. However, Deutsche Bank could beat any new German multi-family supply to market with a new Chiswick Park CMBS.

  • 15 Mar 2013

Chiswick Park’s owner, private equity company Blackstone, part financed the £480m purchase in 2011 with the European CMBS market’s first deal since the 2008 crisis, the £300m Deco 2011-Chiswick Park, arranged and underwritten by Deutsche Bank.

Now Deutsche Bank plans to issue £400m of new CMBS backed by ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 6,665 23 13.02
2 Citi 5,781 17 11.29
3 BNP Paribas 3,530 14 6.89
4 Barclays 2,853 9 5.57
5 Credit Suisse 2,783 8 5.44

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3 Wells Fargo Securities 72,661.39 222 9.63%
4 JPMorgan 52,367.24 169 6.94%
5 Credit Suisse 41,885.89 127 5.55%