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Latest news
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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Barclays has structured a 57 loan CMBS totalling £2.44bn ($3.6bn), which will be largely retained by the bank, just a few days after the Bank of England opened up its Term Funding Scheme to offer low cost liquidity to UK banks. -
Lloyds has told GlobalCapital that a lawsuit which could cost it £275m ($357m) does not have merit, and promised to contest the suit vigorously.
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The US House Financial Services Committee, has moved to pass the Financial CHOICE bill, a wide ranging reform of the Dodd-Frank Act which would essentially exempt non-RMBS securitized assets from risk retention.
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Kroll Bond Rating Agency has hired Mauricio Noé to lead a new push into the European market, where it hopes to offer ratings on the whole range of credit types, from public sector to high yield.
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Bondholders in Fairhold Securitisation, a pre-crisis CMBS deal backed by sheltered housing ground rents in the UK, are pushing to tear up a huge swap liability in the structure, which could leave Lloyds and UBS, the swap counterparties, more than £500m out of pocket.
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The senior loans backing German Residential Funding 2013-1 have been repaid, in a move that will hand back nearly €2bn to CMBS investors who bought the deal, with no replacement deal likely.
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Wells Fargo issued the US CMBS market’s first ever risk retention compliant deal last month, retaining a 5% vertical interest which sources this week say will be treated like a loan participation rather than a securitization exposure for the purposes of calculating risk based capital charges.
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Wells Fargo on Thursday launched the first ever risk retention compliant CMBS, bringing the benchmark triple-A class at 94bp over swaps, the tightest level of 2016 and 14bp tighter than the the most recent offering, demonstrating willingness on the part of investors to pay up for deal in which issuers have skin in the game.
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A seller was out on Tuesday afternoon with a $711m list of legacy CMBS senior bonds, pushing volumes in the US secondary market past $1bn for the day.
