Collateralized loan obligation issuance tied to commercial real estate so far this year is on pace to trounce that seen in 2024.
Roughly $7.4B in commercial property-backed CLOs had been issued as of March 14, a 374% increase compared to the same period in 2024, Commercial Observer reported, citing Morningstar data. In all of 2024, just $8.7B in the same type of loan packages were issued.
New CLOs announced this month by Blackstone Mortgage Trust and TPG Real Estate Finance Trust indicate the trend is likely to continue as debt markets thaw.
BXMT announced it was launching its first CLO since 2021, a $1B…