European CMBS, where the 'M' stands for 'data centre'
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European CMBS, where the 'M' stands for 'data centre'

Teacher teaching alphabet in class

◆ First ever data centre deal in Europe ◆ Cash SRT booming ◆ CLO return after 3 years

This week on Another Fine Mezz, making jam-packed diaries work with the time difference meant usual host and New York-based securitization editor Tom Lemmon had to miss out. However, European reporters George Smith and Victoria Thiele went on a whirlwind tour of securitization in record quick time.

It seems that some in the market may need to go back to school, because there appears to be a CMBS comprised solely of data centres — rather than the usual commercial real estate mortgages. As George said, the 'M' stands for... "data centre".

There's also an update on the booming significant risk transfer market, with issuers beginning to prefer cash dealsover synthetics.


In CLO land, Brigade made a roaring return to the market after three years away, and who can blame them? With arbitrage the best it's been in a while, they even drummed up some third party equity.

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