The European CMBS market is gathering pace after a slow start to 2014 with Bank Of America Merrill Lynch this week launching Taurus CMBS UK 2014-1.
The £211.5m deal securitises a senior loan it provided for Apollo Global Management’s purchase of the Project Moon portfolio.
The collateral comprises 135 secondary properties. It follows the launch of Deutsche Bank’s Italian €355m (£284m) DECO-2014 Gondola deal two weeks ago, the first European CMBS this year.
Deutsche Bank is also working with Crédit Agricole to securitise the £550m loan secured against Westfield’s Stratford shopping centre, E20.
Bridget.O’Connell@estatesgazette.com
