Daily market intelligence on mortgages, equity raising, investment sales, and CMBS.

Thursday, 13 September 2018

3 CMBS Conduits Totaling $3.2Bln Teed Up; Issuance Tracks 2017 Levels

After a month-long hiatus, the CMBS new issue market is coming alive. Three conduits totaling $3.2 billion have launched and another two are expected to follow suit in the coming days. The deals likely will push issuance for the nine-month period to a level greater than the $60.4 billion that took place last year.

Commercial Real Estate Direct Staff Report

Three CMBS conduit transactions, totaling a combined $3.2 billion, were launched in recent days, after a month-long hiatus for such deals.

The deals would bring issuance for the year thus far to $57.5 billion. The thinking is that at least two additional conduit transactions will be brought to market before the month is up, which could bring issuance for the year to a level greater than the $60.4 billion that had been issued through September last year.

The three recently launched deals are a BANK-branded transaction that includes loans contributed by Bank of America, Morgan Stanley, National Cooperative Bank and Wells Fargo Bank; a Benchmark-branded deal with loans from Citibank, Deutsche Bank and JPMorgan Chase Bank, and a deal from a syndicate led by UBS that includes loans also contributed by Cantor Commercial Real Estate,...


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Data Digest







Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44




cppichart FP



CMBS 2.0 Spreads


Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41





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