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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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The loan backing the Vanwall Finance CMBS — securitised by Deutsche Bank and Barclays in 2006 on a portfolio of Toys ‘R’ Us retail and distribution units in the UK — is expected to be refinanced by a group of unidentified lenders ahead of the April maturity date.
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Intu Properties, the UK’s biggest shopping centre owner, which has just changed its name from Capital Shopping Centres, is setting up a new secured debt issuance programme to refinance four of its malls.
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Regional mall properties continue to be the dominant single asset commercial mortgage-backed securities property type in 2013.
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Bayview Financial Friday priced its $101 million, fixed-rate residential mortgage-backed securitization of non-performing loans.
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The Mall Funding U.K. commercial mortgage securitization has seen its senior class A bonds downgraded from BB+ to BB by Standard & Poor’s as a result of falling rental income and a tight schedule on its property disposal strategy.
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Noteholders ranked below class ‘A’ in the Titan 2007-1 CMBS, which is backed by a portfolio of UK nursing homes, are unlikely to be repaid in full at the January 2017 maturity date, according to Barclays analysts. Explaining their conclusion, they cited a lack of cash flow, high capital expenditure and a falling portfolio valuation.
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Sato, the Finnish residential property developer and manager, has mandated Nordea Markets and Pohjola Markets to establish and market a new €500m secured MTN programme. Like the company and its previous bond, the programme will be unrated.
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Deutsche Bank’s DECO-7 Pan-Europe 2 commercial mortgage-backed securitization has seen its A2 tranche downgraded by Moody’s Investors Service, amidst growing concerns that the interest on the bonds will not be paid on time.
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The European Banking Authority has set out its proposals on how liquid assets—including high-quality residential mortgage-backed securities—should be defined under the Liquidity Coverage Ratio’s implementation in the EU next year.