February 07, 2019
Cadwalader is once again ranked as the number one law firm advising both issuers and underwriters on commercial MBS offerings, topping the 2018 tables released by Commercial Mortgage Alert. The firm has now been ranked first in the issuer counsel category for 19 consecutive years.
In 2018, Cadwalader’s Capital Markets Group, led by Michael Gambro and Stuart Goldstein, advised issuers on 76 deals, or 62 percent of the market transactions, totaling approximately $46.8 billion. On the underwriter side, Cadwalader advised on 51 transactions, representing nearly 42 percent of the total and valued at approximately $30.1 billion.
“Our goal is to provide clients the top-tier talent and exceptional service they need to complete their deals,” said Gambro. “Staying at the top of these rankings is a testament to the quality of our clients, who are leaders in the CMBS industry.”
Cadwalader’s Capital Markets Group includes lawyers in New York, Charlotte, Washington, D.C., and London. The team advises investment banks, issuers, funds and private equity sponsors in structuring and executing transactions across a broad array of structured products and asset classes, including ABS, CLOs, CMBS, CRE CLOs, RMBS, structured workout financings and whole loan sales.
The firm is particularly active in the expanding market for commercial real estate collateralized loan obligations (CRE CLOs), which continue to grow in popularity as a way to finance commercial real estate bridge loans, which are mortgage loans secured by transitional or non-stabilized assets.
In 2018, the Cadwalader team, led by Goldstein and partner Jeffrey Rotblat, served as counsel for either the issuer or underwriter on 84 percent of the CRE CLO deals completed, valued at approximately $12.2 billion.
“Our many years of experience in both CMBS and CRE CLOs puts us in a unique position to advise CRE CLO issuers,” said Rotblat. “Clients appreciate the real-world experience we bring to the table.”
“The market is seeing continued growth in CRE CLO transactions,” added Goldstein. “We are committed to providing clients unmatched service, unparalleled insight and comprehensive market knowledge.”
Pro Bono Report 2019