Several candidates for new issue CMBS deals in Europe emerged, including the Royal Bank of Scotland’s Project Isobel distressed loan portfolio and a loan tied to a German multifamily housing pool owned by the Vitus Group. [RBS privately placed the £463.2 million ($720.29 million) Isobel Finance No. 1 deal late September, barely a week after Deutsche Bank securitized the Vitus loan in Florentia 2012-1. Bank of America-Merrill Lynch have kickstarted this year’s new issue CMBS market in Europe with another German multifamily trade, Taurus 2013.]