Commercial real estate CDOs are big business in the US, where more than 42 such deals priced last year. In Europe, just two deals have come to market so far, but expectations for the market's growth are high. Natasha de Teran explores the potential. Commercial real estate collateralised debt obligations (CRE CDOs) are CDOs backed by riskier pieces of commercial real estate assets, such as commercial mortgage-backed securities (CMBS) and junior pieces of commercial property mortgages known as 'B' notes. As with other CDOs, the CRE CDO pools are split into different tranches with varying risk profiles and sold off to investors.
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机译：商业房地产CDO在美国是一项大生意，去年在美国，此类交易的定价超过42笔。迄今为止，在欧洲，只有两笔交易上市，但对市场增长的期望很高。 Natasha de Teran挖掘潜力。商业房地产抵押债务义务（CRE CDO）是由风险较高的商业房地产资产支持的CDO，例如商业抵押贷款支持证券（CMBS）和次级商业债券（称为“ B”票据）。与其他CDO一样，CRE CDO池分为不同部分，具有不同的风险特征，并出售给投资者。
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