US Securitization

Deutsche Bank predicts $155bn of private sector CMBS

$450m add-on makes deal more efficient

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Annaly closes its year with triple-As at 125bp

Single asset, single borrower deals drove the US CMBS market in 2025, particularly on New York City collateral as office attendance rose. With interest rates predicted to fall further in 2026, market participants are looking forward to a greater variety of deals on commercial real estate from other cities and sectors, writes Pooja Sarkar

Rising aircraft values and higher re-leasing costs caused by a supply shortage are expected to tip cash into aviation ABS and entice debut issuers in 2026. As cash runs down the waterfall, sales of equity notes tied to aviation lease ABS may return, writes Chadwick Van Estrop

US RMBS issuance barrels on deep into December

Last week Blackstone securitized Aria Resort in Vegas for $2.7bn in one of the largest hotel deals of the year

Park Street Global structures its first lease-backed deal, qualifying for the portfolio interest exemption

Bumper year will lead to even more next year

Issuer has placed 22 non-qualified mortgage deals in 2025 and this will be its last for the year

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