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

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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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

 

RCA CPPI

 

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CMBS 2.0 Spreads

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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

 

 

 

REITCafe

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