CMBS Losses Reach The AAA Tranche Again
Why this matters
Capital markets activity continues to be defined by the rotation from bank balance sheets to non-bank lenders. Private credit funds have raised record dry powder; banks have tightened CRE underwriting standards for the sixth consecutive quarter. The result is a market where well-sponsored deals clear, and marginal credit pays a meaningful spread to do so. For LPs, the allocation conversation has shifted decisively toward real estate debt, with equity allocations being deployed more selectively into operator-led platforms.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- Disclosed capital deal value tracked in September 2026: $23.5B across 49 reported transactions.
Computed from Real Estate Trail’s own tracked coverage
External link. Real Estate Trail does not republish source content.
Related coverage — Capital
Rate, Better and First Horizon announce mortgage industry hires
Rate adds a former CrossCountry Mortgage team with $85 million in annual production
In HelloNation, Real Estate Expert Daniel K Whited Explains What Buyers Should Know About Coastal Properties in the Carolinas
MYRTLE BEACH, S.C., Nov. 13, 2026 /PRNewswire/ -- What should buyers know before purchasing coastal property in the Carolinas? That question is the focus of a HelloNation article featuring insights from Daniel K White…
DDB Capital Shares Its Framework for Evaluating Homebuilder Demand Before Acquiring Land
ALPHARETTA, Ga., Nov. 13, 2026 /PRNewswire/ -- DDB Capital Fund LLC is highlighting builder demand as a central consideration in its residential land acquisition strategy across Alabama, Georgia and the broader Southe…
BofA, Deutsche give 2027 CMBS supply forecasts
Morgan Stanley’s Prime Property Fund Puts 250,000 SQFT 150 California Street on the Market in San Francisco
Morgan Stanley's Prime Property Fund is marketing 150 California Street, a 249,960-square-foot, 24-story Financial District tower completed in 2000, as investors return to downtown San Francisco and a run of distresse…
Charlotte Comparison Offers Context for Westchester Finance Professionals Considering a Move
Scott Pridemore of Pridemore Properties at Compass reviews close-in Charlotte sales alongside medians in Scarsdale, Bronxville, Rye and Larchmont CHARLOTTE, N.C., Nov. 13, 2026 /PRNewswire/ -- A new market comparison…