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Latest news
Deutsche Bank predicts $155bn of private sector CMBS
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Single asset, single borrower deals drove the US CMBS market in 2025, particularly on New York City collateral as office attendance rose. With interest rates predicted to fall further in 2026, market participants are looking forward to a greater variety of deals on commercial real estate from other cities and sectors, writes Pooja Sarkar
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Shariah compliant lender Gatehouse Bank this week began a roadshow for its first commercial rental backed security (CRBS). The bank created the new Shariah compliant structure to break into the recovering European CMBS market, and the collateral features on the new product could eventually allow tighter pricing than conventional CMBS, a senior Gatehouse banker told GlobalCapital.
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The Securities & Exchange Commission’s decision to suspend Standard & Poor's from rating conduit fusion CMBS deals for one year may seem dramatic, but will have little effect on issuers and investors. Market participants have already adapted to life without the ratings agency, which has seen its market share drop by a factor of 10 since 2007. -
Shariah compliant lender Gatehouse Bank kicked off a roadshow on Monday for its first commercial rental backed security (CRBS). The bank created the new Shariah compliant structure in order to break into the recovering European CMBS market, and the collateral features on the new product could eventually allow tighter pricing than conventional CMBS, a senior Gatehouse banker told GlobalCapital.
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Extra MSA Group, which owns a portfolio of 18 motorway service areas (MSAs) in the UK, has securitised half of them in a private £220m commercial mortgage-backed bond just before Christmas.
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Standard & Poor’s became the second ‘big three’ ratings agency to cut UK supermarket group Tesco to junk status last week, and its commercial mortgage-backed debt is suffering the consequences.
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A San Francisco Bay area portfolio manager is readying his firm’s first dedicated securitized asset fund, focusing on esoteric ABS, as well as RMBS and CMBS and some CLOs.
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Morgan Stanley’s Zephyrus (ELoC 30) CMBS, which was priced just before Christmas, includes extensive waivers of sanctions liability — for a deal which is only exposed to UK commercial property.
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Trepp and Markit have teamed up to launch two CMBS indices in the US, available at the end of January, to cover the performance of deals at issuance and reflect trading of liquid CMBS transactions.
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Morgan Stanley’s Zephyrus (ELoC 30) CMBS, which was priced just before Christmas, includes extensive waivers of sanctions liability — for a deal which is only exposed to UK commercial property.
