Five commercial mortgage securitizations totaling some $3 billion hit the market Tuesday and Wednesday. This marks a return the pace seen before last week’s presidential election, when deal flow slowed considerably.
Issuers have been rushing to complete deals before risk retention rules take place at the end of December. However one of the deals is designed to comply with the rules, which require sponsors to hold on to 5% of the economic risk of their deals. It is one of only four to date.