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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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Collateralized loan obligations are gaining back some of their relative-value shine as spreads on new-issue deals resist the tightening being seen in commercial mortgage-backed securities.
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Cerberus Capital Management has hired Daniel Choquette as managing director with the firm’s mortgage-backed securities group.
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Spreads tightened sharply in the new-issue market for commercial mortgage-backed securities on Thursday, with the benchmark triple-A bonds from a new conduit hitting 100 basis points over swaps—15bps tighter than the most recent deal.
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The investor-led arranging of Debussy DTC CMBS, a securitization backed by a Toys R US portfolio of 31 UK warehouses and stores, is a model that increasingly proactive bondholders are using to gain exposure to commercial real estate debt under bespoke terms, according to Graham Penn, partner at Sidley Austin.
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Morgan Stanley Investment Management is hoping to convince more European investors to participate in its new Global Mortgage Securities Fund, a Luxembourg-registered fund that primarily invests in U.S. non-agency Alt-A residential mortgage-backed securities.
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Portuguese bank Caixa Económica Montepio Geral bought back EUR63.5 million ($84.23 million) of Pelican and Sagres residential mortgage-back securities in its latest tender offer.
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Wells Fargo priced a $200 million floating-rate commercial mortgage-backed securities deal for Starwood Property Group and Fortress Investment Group backed by a loan on 123 Red Roof Inn properties.
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The city of Richmond, Calif. has taken the first step toward acquiring mortgage loans out of private-label residential mortgage-backed securities with or without the consent of investors in those securities. -
Italian mortgage prepayment rates hit an all-time low at the end of 2012, Fitch Ratings said this week.
