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CMBS market emerges from the shadows
Date: 29 August 2011
Europe's CMBS market is emerging from the shadows after four years in the doldrums, sending a signal to the market that it is once again a credible source of debt capital. In August, Deutsche Bank underwrote £450 mln (EUR 513 mln) of new UK loans which are likely to form the basis of another CMBS deal. The new loans are reportedly secured on the Merry Hill regional shopping centre in the West Midlands, the Design Centre in Chelsea Harbour in London and Milton Park, a business park in Oxfordshire.

Deutsche Bank is now believed to be considering a multi-borrower CMBS issue that it is expected to place before the autumn, although it is unclear how large this is, Paul Lloyd, head of loan and special servicing at CBRE in London, told PropertyEU.

In addition, the German bank is believed to be mulling a German multi-family CMBS placement.

The reports follow the German bank’s landmark placement of a £302 mln CMBS in London in June which marked the first European CMBS public offering since the credit crunch erupted in 2007.

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