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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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Bondholders across all tranches of the Opera Finance (CMH) commercial mortgage securitisation met this week to discuss a number of restructuring proposals for the underlying debt.
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Société Générale’s pan-European commercial mortgage securitization White Tower 2007-1 was downgraded by Standard & Poor’s this week in light of a worsening recovery outlook in the deal’s last remaining underlying loan.
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Intu Properties, the U.K.’s biggest shopping center owner, formerly called Capital Shopping Centres, has successfully issued its first bonds from a new secured debt program, raising £800 million ($1.20 billion) through a dual tranche offering.
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Intu Properties, the UK’s biggest shopping centre owner, formerly called Capital Shopping Centres, has successfully issued its first bonds from a new secured debt programme, raising £800m through a dual tranche offering.
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Bids in the asset-backed securities secondary market have started to soften because few clients are willing to sell into a market that offers little prospect of reinvestment. But some traders expect the very positive tone in equity and other credit markets to gradually seep into ABS and encourage more flows.
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The mortgage market could face longer-term impacts following the Federal Housing Finance Agency’s announcement Tuesday of plans to form a unified securitization platform for Fannie Mae and Freddie Mac, even if the market saw no immediate pricing reaction in the agency residential mortgage-backed securities markets.
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Spreads on top-rated, 10-year commercial mortgage backed securities widened out three basis points for the latest conduit, JPMCC 2013-C10, issued by JPMorgan on Friday, according to sister publication Real Estate Finance Intelligence.
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Three major U.K. securitization issuers — Barclays, Lloyds Banking Group and Nationwide Building Society — took more funding from the Bank of England’s Funding for Lending Scheme in the fourth quarter of last year, according to sister publication Euroweek Structured Finance Weekly.
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January proved to be as tricky as analysts expected for European commercial mortgage-backed securities loan maturities, with 72% of loans failing to meet their obligations, according to rating agency Standard & Poor’s.