CLO “machine” steamrolling traditional CRE players

Sources speaking with GlobalCapital on Wednesday said that the growth of the commercial real estate CLO market is gnawing away at lenders’ ability to keep underwriting standards high and remain competitive, pushing out traditional sources of debt capital in favour of debt funds and other alternative providers.

  • By Alexander Saeedy
  • 18 Jul 2018

As the number of debt funds active in the CRE CLO sector has ballooned this year, more conservative lenders are struggling to ink deals as they are outmatched by debt funds’ looser underwriting and lower margin pricing.

“There’s an incredible amount of capital in the market and it’s ...

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2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

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5 Credit Suisse 44,872.46 115 6.40%