CMBS revival masks big industry shifts

The US CMBS industry is clawing back market share in real estate lending by targeting high end hotel and office properties with single loan deals. But lenders have had to loosen their standards to do so, and the proliferation of single loan deals will concentrate risk in a market designed to diversify it.

  • By David Bell
  • 23 Jan 2018
Last year was seen as an unexpectedly successful year for the CMBS market. The industry was faced with the onset of risk retention requirements at the start of the year, and many felt the market would struggle to muster deal volumes, shrinking the market’s share of the Bloomberg ...

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1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

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3 Bank of America Merrill Lynch 8,771.28 25 9.25%
4 JPMorgan 7,423.52 25 7.83%
5 RBC Capital Markets 4,569.28 13 4.82%