A recent commercial mortgage securitization from U.K. property company British Land is expected to give birth to a barrage of international CMBS issuance, market players said last week.

The sterling-denominated transaction, worth $2.5 billion, was the largest-ever commercial property securitization outside the U.S. Agented by Morgan Stanley Dean Witter, the deal was backed by rents from the Broadgate office development in London.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.