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CMBS

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Latest news

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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

More articles

  • Blackstone is in the market this week with a $5.6bn CMBS deal backed by a portfolio of industrial properties, the largest commercial mortgage bond issuance since 2014.
  • Logicor, the UK and European logistics group owned by China Investment Corp and Blackstone, is marketing a secured bond of up to £900m this week to take out some existing debt, hitting the market window ahead of expected disruption around the UK’s EU exit date of October 31.
  • Bank of America Merrill Lynch is bringing the third deal of the year from its Taurus CMBS shelf, with the transaction this time around backed by UK student housing.
  • Deutsche Bank managed to syndicate the maximum amount possible of its loan against a UK shopping centre, where one of the largest tenants is troubled department store Debenhams, defying a deep gloom about retail in general and the UK economy ahead of Brexit.
  • Orrick, Herrington & Sutcliffe has hired a structured finance lawyer to join its team from Ropes & Gray, the firm's third London hire in a month.
  • Banks are getting ready to sell investors on $2.7bn of commercial mortgage bonds, offering up a buffet of conduit, single borrower and commercial real estate CLO paper.
  • A recent Spanish Supreme Court ruling on NPL foreclosures will help buyers of poorly performing mortgage portfolios avoid years of potential legal proceedings.
  • Deutsche Bank is out with a £114m CMBS backed by a single loan on a shopping centre in Derbyshire, anchored by three high-street tenants: Debenhams, Next and M&S.
  • Bank of America Merrill Lynch priced Taurus 2019-2 at 120bp over Libor, with senior notes landing towards the wide range of initial price thoughts released on Tuesday.