Private label CMBS issuance remained active in September. While deal count declined modestly from August, dollar volume increased, with 19 deals totaling $13.3 billion pricing during the month, compared with 21 deals totaling $11.6 billion in August. September issuance included 18 single-borrower (SB) transactions and one conduit deal, bringing year-to-date (YTD) volume to $103.5 billion, up 11.9% from the same period last year.
Similar to August’s deal count, two commercial real estate (CRE) collateralized loan obligation (CLO) deals priced for a total of $2 billion. CRE CLO issuance YTD was $33.5 billion, continuing its strong year-over-year (YoY) comparison with a 45% increase. On a combined basis, CMBS and CRE CLO YTD issuance is higher by 18.5% YoY.
Looking forward, given the recent increase in interest rates, the pace could slow down. Based on our current visibility, there could be up to 18 deals announced in October, including eight SB, four conduits, five CRE CLOs, and one…
Log in or Subscribe to KBRA Premium to view this report.
Trusted Ratings. Actionable Intelligence.
With a KBRA Premium subscription, you gain full access to KBRA’s authoritative ratings, deep research, and industry-leading analytics. Built for market professionals who require clarity, context, and confidence in every decision.