January 28, 2011
Cadwalader, Wickersham & Taft LLP, one of the world’s leading international law firms, once again resumed its dominance of the commercial mortgage backed securities (CMBS) market in 2010, picking up right where the firm left off as the sector started to revive.
According to Commercial Mortgage Alert (January 28, 2011), Cadwalader far outpaced the nearest competitor with 12 deals totaling $7,747.5 million as the leading counsel for issuers, twelve times the number of transactions as the second place firm. The firm also posted impressive numbers as leading underwriters’ counsel with 14 deals for a total of $8,728.4 million. The publication noted that “Cadwalader became one of the driving forces behind the new generation of deal structures that have developed since issuance revived in late 2009.”
Capital Markets Department Co-Chair Michael Gambro noted that “ as one of the firm’s closest to the market, both before the crisis, and after, when the first three new issues came to market, Cadwalader was well-positioned as CMBS started to come back.”
It is also notable that Cadwalader grabbed spots as underwriters’ and issuers’ counsel in the Asset-Backed Alert (January 14, 2011) rankings for overall U.S. asset and mortgage-backed securities.
In addition to issuers and underwriters, the firm represents credit enhancers, investors, loan sellers, services and trustees in CMBS transactions.
About Commercial Mortgage Alert
Commercial Mortgage Alert is a weekly newsletter for real estate professionals. The newsletter focuses on various aspects of the real state and financing industries and delivers news analysis and statistics on the CMBS and REIT-debt markets, as well as the traditional real estate finance business.
Patrick Quinn and Ruth Merisier discuss the legal profession, working at Cadwalader, and more.