Investors get picky with European CMBS feast

By Tom Brown
21 May 2019

There have been over five CMBS announcements in the past week, making the second quarter of 2019 one of the busiest times in European CMBS since the crisis. But despite the surge of activity, some on the buyside say they are approaching the market with caution.

“Rightly or wrongly, the market is not being carried away by some of the deals on offer,” said an investor on Tuesday.

Pushback emerged last week in the form of underwhelming demand for Blackstone’s Vivaldi CMBS, where one of three loans backing the deal was removed ...

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