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.
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