First multi-loan CMBS since crisis defies margin concerns

By Tom Porter
12 Jun 2014

Deutsche Bank has begun marketing the first public multi-loan CMBS transaction since 2007 as spreads in the asset class hit post-crisis tights. More European CMBS is in the pipeline but some bankers warn a revival could be curtailed by an aggressive loan market.

Deutsche Bank is lead manager and sole bookrunner on DECO 2014 Gondola, an offering of notes backed by three loans tied to Italian commercial property.

It is the first CMBS deal backed by multiple loans in Europe since December 2007, and the first publicly sold CMBS to come ...

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