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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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 4,296 9 12.47
2 BNP Paribas 3,136 11 9.10
3 Bank of America Merrill Lynch (BAML) 2,934 10 8.52
4 Lloyds Bank 2,213 9 6.42
5 Credit Agricole 2,025 6 5.88

Bookrunners of Global Structured Finance

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1 Citi 45,786.98 132 11.43%
2 Bank of America Merrill Lynch 42,772.13 118 10.68%
3 Wells Fargo Securities 33,822.43 98 8.45%
4 JPMorgan 31,322.80 90 7.82%
5 Credit Suisse 24,807.99 61 6.20%