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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
The conditions are set so that 2026 promises to be even better than the already impressive 2025. A deepening of esoteric asset classes, combined with entirely new deal types, as well as more debut issuers are set to be the key themes, writes Tom Hall
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Lloyds is among several lenders to announce that it will join NatWest, TSB and Nationwide in allowing borrowers affected by the coronavirus to take payment holidays on their mortgages, but that has raised legal questions for RMBS deals if borrowers require deferrals beyond the three month relief period. -
Bank of America is roadshowing Taurus 2020-1, a Blackstone-sponsored European CMBS and the first from the Taurus shelf to be backed entirely by Dutch properties.
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Commercial real estate finance firm Sabal Capital Partners came to the market this week with its first conduit CMBS transaction, a debut in a market dominated by the largest US and European banks.
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Barclays and JP Morgan were this week marketing the senior notes of Futura 2019 for Guber Banca and Varde at mid-300bps over six month Euribor. The deal gives investors a rare chance to buy publicly syndicated investment grade exposure to Italian non-performing loans.
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Link Group said it has agreed a €165m deal to acquire Pepper Group’s European loan servicing, asset management and advisory business, which will create a servicing group managing €130bn in assets.
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The first European CMBS of 2020 was priced well inside initial price thoughts last week but, although the deal was also the first green-marketed CMBS deal in Europe, market participants said it was difficult to tell how much it benefited from its ESG credentials.
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Deutsche Bank has syndicated part of the financing for Cerberus’ acquisition of a large pool of real-estate owned properties (REOs) — houses — from Banco de Sabadell late last year, as part of the bank’s disposals of non-core assets.
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Goldman Sachs released initial price thoughts (IPTs) for its upcoming River Green Finance 2020, the first such green deal in Europe and the first CMBS of the year.
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Goldman Sachs is bringing River Green Finance 2020, the first European commercial mortgage-backed security (CMBS) of the year and the first in Europe to be marketed as green.
